Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,861 shares of the real estate investment trust’s stock after purchasing an additional 311 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in AvalonBay Communities were worth $8,004,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Creative Planning increased its stake in AvalonBay Communities by 0.4% during the 2nd quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 2 shares in the last quarter. WFG Advisors LP increased its stake in AvalonBay Communities by 24.9% during the 2nd quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 167 shares in the last quarter. Eqis Capital Management Inc. acquired a new stake in shares of AvalonBay Communities in the second quarter worth $201,000. Bbva Compass Bancshares Inc. acquired a new stake in shares of AvalonBay Communities in the second quarter worth $206,000. Finally, American Trust Investment Advisors LLC acquired a new stake in shares of AvalonBay Communities in the second quarter worth $218,000. Institutional investors and hedge funds own 97.71% of the company’s stock.
A number of analysts have recently weighed in on AVB shares. BidaskClub lowered shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Stifel Nicolaus dropped their price target on shares of AvalonBay Communities from $209.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, November 1st. BMO Capital Markets restated a “hold” rating and set a $191.00 price target on shares of AvalonBay Communities in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Deutsche Bank AG raised their price target on shares of AvalonBay Communities from $193.00 to $195.00 and gave the company a “hold” rating in a research report on Friday, August 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $197.20.
AvalonBay Communities, Inc. (NYSE AVB) traded up $1.92 during trading on Monday, reaching $183.89. 60,516 shares of the company traded hands, compared to its average volume of 617,646. AvalonBay Communities, Inc. has a 52-week low of $158.32 and a 52-week high of $199.52. The firm has a market capitalization of $25,127.86, a PE ratio of 21.43, a P/E/G ratio of 2.89 and a beta of 0.36. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.69.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.17 by ($0.45). AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The firm had revenue of $550.50 million for the quarter, compared to analyst estimates of $539.69 million. During the same quarter in the previous year, the business posted $2.11 earnings per share. AvalonBay Communities’s revenue for the quarter was up 6.6% on a year-over-year basis. research analysts anticipate that AvalonBay Communities, Inc. will post 8.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.09%. The ex-dividend date was Thursday, September 28th. AvalonBay Communities’s payout ratio is currently 88.75%.
AvalonBay Communities Company Profile
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.
What are top analysts saying about AvalonBay Communities Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for AvalonBay Communities Inc. and related companies.