Quantbot Technologies LP Takes $2.34 Million Position in AvalonBay Communities, Inc. (AVB)
Quantbot Technologies LP purchased a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 13,112 shares of the real estate investment trust’s stock, valued at approximately $2,339,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in AvalonBay Communities by 22.2% during the 2nd quarter. FMR LLC now owns 5,341,390 shares of the real estate investment trust’s stock valued at $1,026,454,000 after acquiring an additional 969,095 shares during the last quarter. Koch Industries Inc. bought a new position in AvalonBay Communities during the 2nd quarter valued at $365,000. Harbour Capital Advisors LLC boosted its stake in AvalonBay Communities by 19,117.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 329,572 shares of the real estate investment trust’s stock valued at $1,715,000 after acquiring an additional 327,857 shares during the last quarter. Old Mutual Global Investors UK Ltd. boosted its stake in AvalonBay Communities by 185.9% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 504,090 shares of the real estate investment trust’s stock valued at $89,939,000 after acquiring an additional 327,763 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in AvalonBay Communities by 316.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 407,714 shares of the real estate investment trust’s stock valued at $72,744,000 after acquiring an additional 309,867 shares during the last quarter. 96.85% of the stock is owned by institutional investors and hedge funds.
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Shares of AvalonBay Communities, Inc. (AVB) traded down $1.74 during trading hours on Friday, reaching $184.37. 472,129 shares of the company traded hands, compared to its average volume of 606,526. The company has a market cap of $25,220.00, a P/E ratio of 22.09, a PEG ratio of 2.95 and a beta of 0.36. AvalonBay Communities, Inc. has a 12-month low of $158.32 and a 12-month high of $199.52. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.10 and a current ratio of 0.10.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.17 by ($0.45). The firm had revenue of $550.50 million during the quarter, compared to the consensus estimate of $539.69 million. AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 earnings per share. sell-side analysts anticipate that AvalonBay Communities, Inc. will post 8.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a $1.42 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $5.68 annualized dividend and a yield of 3.08%. AvalonBay Communities’s dividend payout ratio is presently 89.03%.
A number of research firms have commented on AVB. UBS AG upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and increased their price objective for the company from $190.00 to $206.00 in a research note on Thursday, November 9th. Mizuho reiterated a “buy” rating and set a $220.00 price objective on shares of AvalonBay Communities in a research note on Monday, November 6th. Evercore ISI upgraded shares of AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 price objective on the stock in a research note on Monday, September 25th. Stifel Nicolaus reiterated a “buy” rating and set a $209.00 price objective on shares of AvalonBay Communities in a research note on Wednesday, October 4th. Finally, BidaskClub upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target 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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