Royal London Asset Management Ltd. bought a new position in shares of AvalonBay Communities Inc (NYSE:AVB) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 61,404 shares of the real estate investment trust’s stock, valued at approximately $10,554,000.

Several other institutional investors also recently made changes to their positions in AVB. Principal Financial Group Inc. grew its holdings in shares of AvalonBay Communities by 8.1% during the first quarter. Principal Financial Group Inc. now owns 3,092,546 shares of the real estate investment trust’s stock valued at $508,600,000 after buying an additional 232,456 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of AvalonBay Communities by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,078,649 shares of the real estate investment trust’s stock valued at $357,298,000 after buying an additional 34,335 shares in the last quarter. Morgan Stanley grew its holdings in shares of AvalonBay Communities by 0.6% during the second quarter. Morgan Stanley now owns 1,455,639 shares of the real estate investment trust’s stock valued at $250,212,000 after buying an additional 8,707 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of AvalonBay Communities by 4.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,445,048 shares of the real estate investment trust’s stock valued at $248,390,000 after buying an additional 65,431 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of AvalonBay Communities by 2.8% during the first quarter. Legal & General Group Plc now owns 1,186,815 shares of the real estate investment trust’s stock valued at $195,193,000 after buying an additional 32,616 shares in the last quarter. 93.12% of the stock is currently owned by institutional investors.

In other AvalonBay Communities news, CFO Kevin P. O’shea sold 2,000 shares of the business’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $179.85, for a total value of $359,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Sean J. Breslin sold 7,200 shares of the business’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $182.20, for a total value of $1,311,840.00. The disclosure for this sale can be found here. 0.43% of the stock is owned by insiders.

A number of research analysts have recently weighed in on the company. BTIG Research downgraded AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $208.00 price target on the stock. in a report on Thursday, May 31st. Argus lifted their price target on AvalonBay Communities to $196.00 and gave the company a “buy” rating in a report on Wednesday, August 15th. Robert W. Baird downgraded AvalonBay Communities from an “outperform” rating to a “neutral” rating and set a $197.00 price target on the stock. in a report on Wednesday, August 15th. Morgan Stanley lowered their price target on AvalonBay Communities from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Thursday, June 14th. Finally, Mizuho reiterated a “buy” rating and set a $212.00 price target on shares of AvalonBay Communities in a report on Monday, August 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $192.50.

Shares of NYSE AVB opened at $185.19 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.73. AvalonBay Communities Inc has a one year low of $152.65 and a one year high of $188.91. The stock has a market capitalization of $25.60 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.71 and a beta of 0.33.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, July 30th. The real estate investment trust reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.36). AvalonBay Communities had a net margin of 39.01% and a return on equity of 8.42%. The firm had revenue of $569.24 million during the quarter, compared to analysts’ expectations of $565.41 million. During the same quarter last year, the firm earned $2.09 EPS. equities research analysts anticipate that AvalonBay Communities Inc will post 8.99 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be given a $1.47 dividend. The ex-dividend date is Thursday, September 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.18%. AvalonBay Communities’s dividend payout ratio is currently 68.21%.

AvalonBay Communities Profile

As of June 30, 2018, the Company owned or held a direct or indirect ownership interest in 287 apartment communities containing 84,043 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 16 communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

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

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