Amundi Pioneer Asset Management Inc. lifted its position in shares of AvalonBay Communities Inc (NYSE:AVB) by 332.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197,892 shares of the real estate investment trust’s stock after acquiring an additional 152,092 shares during the period. Amundi Pioneer Asset Management Inc. owned about 0.14% of AvalonBay Communities worth $35,307,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Capital Analysts LLC grew its stake in shares of AvalonBay Communities by 441.3% in the fourth quarter. Capital Analysts LLC now owns 2,230 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 1,818 shares in the last quarter. Bartlett & Co. LLC grew its stake in shares of AvalonBay Communities by 112.8% in the fourth quarter. Bartlett & Co. LLC now owns 681 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 361 shares in the last quarter. Amica Retiree Medical Trust bought a new position in shares of AvalonBay Communities in the third quarter worth $132,000. Keeler Thomas Management LLC bought a new position in shares of AvalonBay Communities in the fourth quarter worth $166,000. Finally, NuWave Investment Management LLC bought a new position in shares of AvalonBay Communities in the fourth quarter worth $181,000. 94.72% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently weighed in on AVB. BMO Capital Markets set a $175.00 price target on AvalonBay Communities and gave the company a “hold” rating in a research report on Friday, March 2nd. Robert W. Baird reissued a “buy” rating and set a $187.00 price objective on shares of AvalonBay Communities in a report on Tuesday, January 9th. Sandler O’Neill lowered AvalonBay Communities from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Barclays cut their target price on AvalonBay Communities from $189.00 to $186.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 30th. Finally, Zelman & Associates upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $191.06.
Shares of AvalonBay Communities stock traded down $1.80 during trading on Monday, reaching $162.66. 668,342 shares of the company were exchanged, compared to its average volume of 864,986. AvalonBay Communities Inc has a twelve month low of $152.65 and a twelve month high of $199.52. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.71. The stock has a market cap of $22,711.19, a PE ratio of 18.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.36.
AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $1.03. AvalonBay Communities had a return on equity of 8.57% and a net margin of 40.62%. The firm had revenue of $555.29 million during the quarter, compared to analysts’ expectations of $554.20 million. During the same period in the previous year, the firm earned $2.12 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. analysts expect that AvalonBay Communities Inc will post 8.96 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.61%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Wednesday, March 28th. AvalonBay Communities’s payout ratio is 68.21%.
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About AvalonBay Communities
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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