Oregon Public Employees Retirement Fund Purchases 479 Shares of AvalonBay Communities, Inc. (AVB)
Oregon Public Employees Retirement Fund raised its position in AvalonBay Communities, Inc. (NYSE:AVB) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,754 shares of the real estate investment trust’s stock after purchasing an additional 479 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in AvalonBay Communities were worth $2,632,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning raised its stake in shares of AvalonBay Communities by 0.4% in the 2nd quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 2 shares during the period. WFG Advisors LP raised its stake in shares of AvalonBay Communities by 24.9% in the 2nd quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 167 shares during the period. Eqis Capital Management Inc. acquired a new stake in shares of AvalonBay Communities in the 2nd quarter valued at about $201,000. Bbva Compass Bancshares Inc. acquired a new stake in shares of AvalonBay Communities in the 2nd quarter valued at about $206,000. Finally, American Trust Investment Advisors LLC acquired a new stake in shares of AvalonBay Communities in the 2nd quarter valued at about $218,000. 96.85% of the stock is currently owned by hedge funds and other institutional investors.
AvalonBay Communities, Inc. (AVB) opened at $187.16 on Monday. The firm has a market capitalization of $25,844.53, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 2.94 and a beta of 0.36. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.69. AvalonBay Communities, Inc. has a 12-month low of $158.32 and a 12-month high of $199.52.
AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.45). The business 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%. AvalonBay Communities’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $2.11 EPS. equities analysts forecast that AvalonBay Communities, Inc. will post 8.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Thursday, December 28th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 88.75%.
Several analysts have issued reports on the company. UBS AG raised AvalonBay Communities from a “neutral” rating to a “buy” rating and lifted their price target for the company from $190.00 to $206.00 in a research note on Thursday. Mizuho reissued a “buy” rating and issued a $220.00 price target on shares of AvalonBay Communities in a research note on Monday, November 6th. Evercore ISI raised AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 price target on the stock in a research note on Monday, September 25th. Stifel Nicolaus reissued a “buy” rating and issued a $209.00 price target on shares of AvalonBay Communities in a research note on Wednesday, October 4th. Finally, Barclays PLC lifted their price target on AvalonBay Communities from $188.00 to $189.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $199.27.
AvalonBay Communities 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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