Nisa Investment Advisors LLC Has $10.98 Million Position in AvalonBay Communities, Inc. (AVB)
Nisa Investment Advisors LLC increased its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 40.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,538 shares of the real estate investment trust’s stock after purchasing an additional 17,790 shares during the period. Nisa Investment Advisors LLC’s holdings in AvalonBay Communities were worth $10,979,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of AvalonBay Communities by 0.7% during the second quarter. Vanguard Group Inc. now owns 22,015,933 shares of the real estate investment trust’s stock worth $4,230,802,000 after purchasing an additional 158,436 shares during the period. FMR LLC grew its stake in shares of AvalonBay Communities by 22.2% during the second quarter. FMR LLC now owns 5,341,390 shares of the real estate investment trust’s stock worth $1,026,454,000 after purchasing an additional 969,095 shares during the period. Bank of New York Mellon Corp grew its stake in shares of AvalonBay Communities by 9.5% during the third quarter. Bank of New York Mellon Corp now owns 3,184,930 shares of the real estate investment trust’s stock worth $568,255,000 after purchasing an additional 276,035 shares during the period. Principal Financial Group Inc. grew its stake in shares of AvalonBay Communities by 5.0% during the third quarter. Principal Financial Group Inc. now owns 2,932,070 shares of the real estate investment trust’s stock worth $523,140,000 after purchasing an additional 138,649 shares during the period. Finally, Northern Trust Corp grew its stake in AvalonBay Communities by 2.3% in the second quarter. Northern Trust Corp now owns 2,367,614 shares of the real estate investment trust’s stock valued at $454,984,000 after acquiring an additional 52,272 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.
In other news, COO Sean J. Breslin sold 1,500 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $182.65, for a total transaction of $273,975.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Leo S. Horey III sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $182.75, for a total value of $365,500.00. The disclosure for this sale can be found here. Insiders have sold 30,660 shares of company stock valued at $5,628,669 over the last ninety days. 0.46% of the stock is owned by insiders.
A number of research analysts have issued reports on the company. UBS Group raised AvalonBay Communities from a “neutral” rating to a “buy” rating and boosted their target price for the company from $190.00 to $206.00 in a research note on Thursday, November 9th. BMO Capital Markets reissued a “hold” rating and issued a $190.00 target price on shares of AvalonBay Communities in a research note on Monday, November 27th. JPMorgan Chase & Co. cut AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 target price for the company. in a research note on Friday, December 15th. Royal Bank of Canada decreased their target price on AvalonBay Communities from $206.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, November 6th. Finally, Mizuho reissued a “buy” rating and issued a $220.00 target price on shares of AvalonBay Communities in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $200.40.
AvalonBay Communities, Inc. (NYSE AVB) opened at $168.23 on Friday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $23,230.54, a PE ratio of 19.82, a PEG ratio of 2.49 and a beta of 0.35. AvalonBay Communities, Inc. has a 52-week low of $167.51 and a 52-week high of $199.52.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.45). The firm had revenue of $550.50 million for the quarter, compared to analyst estimates of $539.69 million. AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.11 earnings per share. research analysts anticipate that AvalonBay Communities, Inc. will post 8.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $5.68 annualized dividend and a dividend yield of 3.38%. AvalonBay Communities’s dividend payout ratio is currently 88.75%.
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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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