Duff & Phelps Investment Management Co. Has $80.13 Million Position in AvalonBay Communities, Inc. (NYSE:AVB)

Duff & Phelps Investment Management Co. boosted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 416,951 shares of the real estate investment trust’s stock after buying an additional 6,550 shares during the period. AvalonBay Communities accounts for 1.2% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 27th largest position. Duff & Phelps Investment Management Co.’s holdings in AvalonBay Communities were worth $80,125,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Gulf International Bank UK Ltd raised its stake in AvalonBay Communities by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 42,265 shares of the real estate investment trust’s stock worth $7,759,000 after buying an additional 520 shares in the last quarter. National Pension Service raised its stake in AvalonBay Communities by 6.8% in the first quarter. National Pension Service now owns 116,096 shares of the real estate investment trust’s stock worth $21,283,000 after buying an additional 7,368 shares in the last quarter. Bank of Montreal Can raised its stake in AvalonBay Communities by 592.9% in the first quarter. Bank of Montreal Can now owns 461,531 shares of the real estate investment trust’s stock worth $84,736,000 after buying an additional 394,927 shares in the last quarter. Capstone Asset Management Co. raised its stake in AvalonBay Communities by 3.0% in the first quarter. Capstone Asset Management Co. now owns 16,591 shares of the real estate investment trust’s stock worth $3,046,000 after buying an additional 486 shares in the last quarter. Finally, Baldwin Brothers Inc. MA raised its stake in AvalonBay Communities by 16.1% in the first quarter. Baldwin Brothers Inc. MA now owns 39,368 shares of the real estate investment trust’s stock worth $7,228,000 after buying an additional 5,461 shares in the last quarter. Institutional investors and hedge funds own 98.59% of the company’s stock.

AvalonBay Communities, Inc. (NYSE:AVB) opened at 189.05 on Friday. The company has a 50 day moving average of $190.28 and a 200-day moving average of $186.98. The stock has a market cap of $26.03 billion, a P/E ratio of 26.04 and a beta of 0.34. AvalonBay Communities, Inc. has a 12-month low of $158.32 and a 12-month high of $199.52.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $2.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.14 by $0.05. AvalonBay Communities had a return on equity of 9.88% and a net margin of 47.90%. The company had revenue of $530.51 million during the quarter, compared to analysts’ expectations of $529.48 million. During the same quarter in the prior year, the company posted $2.03 EPS. Equities analysts forecast that AvalonBay Communities, Inc. will post $5.19 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a $1.42 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $5.68 annualized dividend and a yield of 3.00%. AvalonBay Communities’s dividend payout ratio is presently 78.13%.

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A number of analysts have weighed in on AVB shares. JMP Securities lowered shares of AvalonBay Communities from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 19th. They noted that the move was a valuation call. Barclays PLC raised their price objective on shares of AvalonBay Communities from $174.00 to $188.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. Evercore ISI reduced their price objective on shares of AvalonBay Communities from $188.00 to $186.00 and set an “in-line” rating for the company in a research note on Wednesday, April 19th. Jefferies Group LLC restated a “hold” rating and set a $196.00 price objective on shares of AvalonBay Communities in a research note on Monday, April 24th. Finally, BTIG Research raised their price target on shares of AvalonBay Communities from $191.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $193.58.

In other AvalonBay Communities news, EVP Edward M. Schulman sold 1,764 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $191.82, for a total value of $338,370.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider William M. Mclaughlin sold 5,112 shares of the company’s stock in a transaction that occurred on 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. Corporate insiders own 0.53% of the company’s stock.

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

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