First Trust Advisors LP decreased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,404 shares of the real estate investment trust’s stock after selling 8,218 shares during the period. First Trust Advisors LP’s holdings in AvalonBay Communities were worth $29,672,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in AvalonBay Communities by 2,676.8% in the first quarter. BlackRock Inc. now owns 14,398,025 shares of the real estate investment trust’s stock worth $2,643,476,000 after buying an additional 13,879,505 shares during the period. Daiwa Securities Group Inc. increased its position in shares of AvalonBay Communities by 236.1% in the first quarter. Daiwa Securities Group Inc. now owns 2,585,626 shares of the real estate investment trust’s stock worth $474,721,000 after buying an additional 1,816,302 shares in the last quarter. FMR LLC increased its position in shares of AvalonBay Communities by 21.5% in the first quarter. FMR LLC now owns 4,372,295 shares of the real estate investment trust’s stock worth $802,753,000 after buying an additional 773,410 shares in the last quarter. Vanguard Group Inc. increased its position in shares of AvalonBay Communities by 1.9% in the first quarter. Vanguard Group Inc. now owns 21,857,497 shares of the real estate investment trust’s stock worth $4,013,036,000 after buying an additional 406,218 shares in the last quarter. Finally, Harbour Capital Advisors LLC increased its position in shares of AvalonBay Communities by 19,117.0% in the second quarter. Harbour Capital Advisors LLC now owns 329,572 shares of the real estate investment trust’s stock worth $1,715,000 after buying an additional 327,857 shares in the last quarter. 97.89% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities, Inc. (NYSE AVB) opened at 192.07 on Wednesday. The firm has a 50-day moving average price of $189.99 and a 200-day moving average price of $187.51. The company has a market cap of $26.45 billion, a P/E ratio of 26.45 and a beta of 0.34. AvalonBay Communities, Inc. has a 12-month low of $158.32 and a 12-month high of $199.52.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.14 by $0.05. The firm had revenue of $530.51 million for the quarter, compared to the consensus estimate of $529.48 million. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. During the same period last year, the firm earned $2.03 earnings per share. On average, equities research analysts forecast that AvalonBay Communities, Inc. will post $5.19 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Wednesday, June 28th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 78.13%.

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A number of equities analysts recently commented on the company. BidaskClub downgraded AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. BMO Capital Markets restated a “hold” rating and set a $191.00 target price on shares of AvalonBay Communities in a report on Wednesday, August 2nd. BTIG Research upped their target price on AvalonBay Communities from $191.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 24th. Barclays PLC upped their target price on AvalonBay Communities from $174.00 to $188.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. Finally, Jefferies Group LLC restated a “hold” rating and set a $196.00 target price on shares of AvalonBay Communities in a report on Monday, April 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. AvalonBay Communities presently has a consensus rating of “Hold” and an average target price of $193.58.

In other AvalonBay Communities news, insider William M. Mclaughlin sold 5,112 shares of AvalonBay Communities stock in a transaction on Friday, June 9th. The stock was sold at an average price of $193.88, for a total transaction of $991,114.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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