Quantinno Capital Management LP Sells 23,317 Shares of AvalonBay Communities, Inc. $AVB

Quantinno Capital Management LP trimmed its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 40.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 34,396 shares of the real estate investment trust’s stock after selling 23,317 shares during the period. Quantinno Capital Management LP’s holdings in AvalonBay Communities were worth $5,619,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Auto Owners Insurance Co raised its stake in AvalonBay Communities by 18,031.0% during the 4th quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock valued at $213,677,000 after purchasing an additional 11,720,150 shares during the period. Norges Bank bought a new position in AvalonBay Communities in the 4th quarter worth approximately $1,394,635,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in AvalonBay Communities by 15,065.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,801,071 shares of the real estate investment trust’s stock valued at $326,552,000 after buying an additional 1,789,195 shares in the last quarter. Bank of America Corp DE grew its holdings in AvalonBay Communities by 76.0% during the 3rd quarter. Bank of America Corp DE now owns 2,355,838 shares of the real estate investment trust’s stock valued at $455,077,000 after buying an additional 1,017,286 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of AvalonBay Communities by 22.4% during the fourth quarter. JPMorgan Chase & Co. now owns 5,159,950 shares of the real estate investment trust’s stock valued at $935,551,000 after buying an additional 944,129 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

Wall Street Analysts Forecast Growth

AVB has been the topic of several research analyst reports. Scotiabank boosted their target price on shares of AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a report on Thursday, July 9th. UBS Group reduced their price target on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Wolfe Research upgraded shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price target on the stock in a research note on Monday, June 1st. Barclays reissued an “equal weight” rating and set a $205.00 price objective (up from $203.00) on shares of AvalonBay Communities in a report on Tuesday, July 14th. Finally, Weiss Ratings raised AvalonBay Communities from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $196.80.

AvalonBay Communities Price Performance

AVB stock opened at $186.78 on Friday. AvalonBay Communities, Inc. has a 52 week low of $160.10 and a 52 week high of $198.63. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74. The company has a fifty day simple moving average of $188.11 and a two-hundred day simple moving average of $179.94. The firm has a market capitalization of $26.67 billion, a P/E ratio of 30.52, a price-to-earnings-growth ratio of 3.29 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). The business had revenue of $777.77 million during the quarter, compared to the consensus estimate of $772.37 million. AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.During the same quarter last year, the firm earned $2.82 earnings per share. Analysts anticipate that AvalonBay Communities, Inc. will post 11.31 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, June 30th. AvalonBay Communities’s payout ratio is presently 116.34%.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.