KBC Group NV boosted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 12.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,038 shares of the real estate investment trust’s stock after acquiring an additional 6,528 shares during the quarter. KBC Group NV’s holdings in AvalonBay Communities were worth $10,891,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Ffcm LLC lifted its position in AvalonBay Communities by 6.6% during the 2nd quarter. Ffcm LLC now owns 10,736 shares of the real estate investment trust’s stock worth $2,064,000 after acquiring an additional 667 shares during the period. AXA lifted its position in AvalonBay Communities by 7.7% during the 2nd quarter. AXA now owns 111,799 shares of the real estate investment trust’s stock worth $21,485,000 after acquiring an additional 7,981 shares during the period. Candriam Luxembourg S.C.A. lifted its position in AvalonBay Communities by 6.6% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 11,496 shares of the real estate investment trust’s stock worth $2,051,000 after acquiring an additional 716 shares during the period. Koch Industries Inc. acquired a new stake in AvalonBay Communities during the 2nd quarter worth approximately $365,000. Finally, PGGM Investments lifted its position in AvalonBay Communities by 5.6% during the 3rd quarter. PGGM Investments now owns 1,642,210 shares of the real estate investment trust’s stock worth $293,003,000 after acquiring an additional 86,594 shares during the period. 94.82% of the stock is owned by institutional investors.
A number of analysts have weighed in on the company. Deutsche Bank increased their price objective on AvalonBay Communities from $193.00 to $195.00 and gave the stock a “hold” rating in a research report on Friday, August 18th. BidaskClub downgraded AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Goldman Sachs Group downgraded AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 target price for the company. in a research note on Tuesday, September 5th. Robert W. Baird reissued a “buy” rating and set a $202.00 target price on shares of AvalonBay Communities in a research note on Friday, September 1st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $209.00 target price on shares of AvalonBay Communities in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. AvalonBay Communities currently has a consensus rating of “Hold” and a consensus target price of $199.20.
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 for the quarter, missing the consensus estimate of $2.17 by ($0.45). AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The firm had revenue of $550.50 million during the quarter, compared to analysts’ expectations of $539.69 million. During the same period in the previous year, the business earned $2.11 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. research analysts anticipate that AvalonBay Communities, Inc. will post 8.62 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.13%. The ex-dividend date is Thursday, December 28th. AvalonBay Communities’s payout ratio is currently 88.75%.
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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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