Louisiana State Employees Retirement System boosted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,500 shares of the real estate investment trust’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in AvalonBay Communities were worth $1,633,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in AVB. Brookfield Asset Management Inc. increased its stake in AvalonBay Communities by 0.4% in the fourth quarter. Brookfield Asset Management Inc. now owns 864,917 shares of the real estate investment trust’s stock worth $153,220,000 after buying an additional 3,800 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of AvalonBay Communities by 2.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 752,271 shares of the real estate investment trust’s stock valued at $133,282,000 after buying an additional 18,958 shares during the period. Kentucky Retirement Systems purchased a new position in AvalonBay Communities during the fourth quarter worth about $1,765,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in AvalonBay Communities during the fourth quarter worth about $788,000. Finally, Macquarie Group Ltd. raised its position in AvalonBay Communities by 13.1% in the fourth quarter. Macquarie Group Ltd. now owns 275,659 shares of the real estate investment trust’s stock worth $48,833,000 after buying an additional 32,026 shares during the last quarter. Institutional investors own 98.59% of the company’s stock.
AvalonBay Communities, Inc. (AVB) opened at 187.87 on Monday. The company’s 50-day moving average is $191.58 and its 200-day moving average is $186.57. The firm has a market cap of $25.82 billion, a PE ratio of 25.03 and a beta of 0.34. AvalonBay Communities, Inc. has a one year low of $158.32 and a one year high of $199.52.
AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by $0.05. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. The business had revenue of $530.51 million for the quarter, compared to the consensus estimate of $529.48 million. During the same period in the previous year, the company earned $2.03 earnings per share. On average, analysts forecast that AvalonBay Communities, Inc. will post $5.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Wednesday, June 28th. AvalonBay Communities’s dividend payout ratio is 78.13%.
A number of research firms recently issued reports on AVB. BMO Capital Markets reiterated a “hold” rating and issued a $191.00 target price on shares of AvalonBay Communities in a research note on Wednesday, August 2nd. BidaskClub raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Thursday. Barclays PLC raised their price objective on shares of AvalonBay Communities from $188.00 to $189.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 18th. BTIG Research raised their price objective on shares of AvalonBay Communities from $191.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, April 24th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $203.00 price target on shares of AvalonBay Communities in a report on Sunday, July 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. AvalonBay Communities currently has an average rating of “Hold” and a consensus price target of $193.58.
In other news, SVP Keri A. Shea sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $192.36, for a total value of $192,360.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William M. Mclaughlin sold 5,112 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $193.88, for a total value of $991,114.56. The disclosure for this sale can be found here. In the last three months, insiders sold 10,626 shares of company stock worth $2,047,645. 0.53% of the stock is owned by corporate insiders.
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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