Wedge Capital Management L L P NC decreased its stake in shares of AvalonBay Communities Inc (NYSE:AVB) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 412,847 shares of the real estate investment trust’s stock after selling 18,862 shares during the period. AvalonBay Communities comprises about 1.0% of Wedge Capital Management L L P NC’s holdings, making the stock its 19th largest position. Wedge Capital Management L L P NC’s holdings in AvalonBay Communities were worth $86,574,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Keudell Morrison Wealth Management purchased a new position in AvalonBay Communities in the second quarter worth $1,963,000. United Capital Financial Advisers LLC boosted its position in AvalonBay Communities by 6.5% in the second quarter. United Capital Financial Advisers LLC now owns 2,588 shares of the real estate investment trust’s stock worth $526,000 after purchasing an additional 159 shares during the last quarter. HighTower Advisors LLC boosted its position in AvalonBay Communities by 19.9% in the second quarter. HighTower Advisors LLC now owns 6,152 shares of the real estate investment trust’s stock worth $1,244,000 after purchasing an additional 1,021 shares during the last quarter. US Bancorp DE boosted its position in AvalonBay Communities by 0.6% in the second quarter. US Bancorp DE now owns 23,495 shares of the real estate investment trust’s stock worth $4,775,000 after purchasing an additional 143 shares during the last quarter. Finally, National Pension Service boosted its position in AvalonBay Communities by 5.3% in the second quarter. National Pension Service now owns 177,827 shares of the real estate investment trust’s stock worth $36,131,000 after purchasing an additional 8,941 shares during the last quarter. 92.38% of the stock is currently owned by institutional investors.

In related news, COO Sean J. Breslin sold 777 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $213.51, for a total transaction of $165,897.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy J. Naughton sold 26,634 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $213.60, for a total value of $5,689,022.40. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Shares of AVB traded up $2.39 during mid-day trading on Wednesday, hitting $211.90. The stock had a trading volume of 796,171 shares, compared to its average volume of 712,633. The firm has a market cap of $29.11 billion, a P/E ratio of 23.54, a PEG ratio of 3.43 and a beta of 0.45. The business has a fifty day moving average price of $210.38 and a 200-day moving average price of $211.19. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.89. AvalonBay Communities Inc has a 52 week low of $178.28 and a 52 week high of $222.87.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.80. AvalonBay Communities had a return on equity of 9.35% and a net margin of 45.56%. The firm had revenue of $587.61 million for the quarter, compared to analyst estimates of $585.86 million. During the same period in the previous year, the company posted $1.39 earnings per share. As a group, research analysts expect that AvalonBay Communities Inc will post 9.3 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.52 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.87%. AvalonBay Communities’s payout ratio is 67.56%.

Several research analysts have weighed in on the company. SunTrust Banks boosted their price objective on AvalonBay Communities from $218.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and set a $230.00 price objective on the stock in a research report on Wednesday, December 18th. Mizuho raised AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $230.00 price objective on the stock in a research report on Wednesday. Evercore ISI raised AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $225.00 price objective on the stock in a research report on Tuesday, November 19th. Finally, Goldman Sachs Group assumed coverage on AvalonBay Communities in a research report on Friday, November 8th. They issued a “buy” rating and a $244.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. AvalonBay Communities currently has an average rating of “Buy” and an average target price of $223.69.

About AvalonBay Communities

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine 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.

See Also: Roth IRA

Want to see what other hedge funds are holding AVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AvalonBay Communities Inc (NYSE:AVB).

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

Receive News & Ratings for AvalonBay Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities and related companies with MarketBeat.com's FREE daily email newsletter.