DnB Asset Management AS Raises Stake in AvalonBay Communities, Inc. (AVB)

DnB Asset Management AS increased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,778 shares of the real estate investment trust’s stock after buying an additional 300 shares during the period. DnB Asset Management AS’s holdings in AvalonBay Communities were worth $2,637,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Prudential Financial Inc. grew its stake in shares of AvalonBay Communities by 76.6% in the 3rd quarter. Prudential Financial Inc. now owns 337,923 shares of the real estate investment trust’s stock valued at $60,292,000 after buying an additional 146,610 shares during the period. Parametric Portfolio Associates LLC grew its stake in shares of AvalonBay Communities by 3.7% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 277,745 shares of the real estate investment trust’s stock valued at $49,555,000 after buying an additional 9,911 shares during the period. AXA grew its stake in shares of AvalonBay Communities by 5.5% in the 3rd quarter. AXA now owns 117,895 shares of the real estate investment trust’s stock valued at $21,034,000 after buying an additional 6,096 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of AvalonBay Communities by 1.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 215,600 shares of the real estate investment trust’s stock valued at $38,467,000 after buying an additional 2,581 shares during the period. Finally, GSA Capital Partners LLP grew its stake in shares of AvalonBay Communities by 70.4% in the 3rd quarter. GSA Capital Partners LLP now owns 10,850 shares of the real estate investment trust’s stock valued at $1,936,000 after buying an additional 4,482 shares during the period. Institutional investors own 94.84% of the company’s stock.

In other AvalonBay Communities news, insider Leo S. Horey III sold 2,000 shares of AvalonBay Communities stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $181.89, for a total transaction of $363,780.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy J. Naughton sold 25,160 shares of AvalonBay Communities stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total transaction of $4,625,414.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,660 shares of company stock worth $5,628,669. Insiders own 0.46% of the company’s stock.

AvalonBay Communities, Inc. (AVB) opened at $168.23 on Friday. The stock has a market capitalization of $23,443.18, a PE ratio of 26.29, a price-to-earnings-growth ratio of 2.52 and a beta of 0.35. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.10 and a current ratio of 0.10. AvalonBay Communities, Inc. has a 12 month low of $167.51 and a 12 month high of $199.52.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.45). The company had revenue of $550.50 million for the quarter, compared to analyst estimates of $539.69 million. AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. AvalonBay Communities’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.11 EPS. equities research analysts expect that AvalonBay Communities, Inc. will post 8.62 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $5.68 annualized dividend and a dividend yield of 3.38%. AvalonBay Communities’s dividend payout ratio is currently 88.75%.

AVB has been the subject of several research reports. Robert W. Baird restated a “buy” rating and issued a $187.00 target price on shares of AvalonBay Communities in a research note on Tuesday, January 9th. UBS Group upgraded AvalonBay Communities from a “neutral” rating to a “buy” rating and raised their target price for the company from $190.00 to $206.00 in a research note on Thursday, November 9th. Stifel Nicolaus reiterated a “buy” rating and set a $209.00 price target on shares of AvalonBay Communities in a research note on Wednesday, October 4th. Mizuho reiterated a “buy” rating and set a $220.00 price target on shares of AvalonBay Communities in a research note on Monday, November 6th. Finally, Zacks Investment Research upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $200.40.

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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.

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

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