LS Investment Advisors LLC raised its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,549 shares of the real estate investment trust’s stock after buying an additional 54 shares during the period. LS Investment Advisors LLC’s holdings in AvalonBay Communities were worth $1,835,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Canada Pension Plan Investment Board increased its stake in AvalonBay Communities by 129.0% in the first quarter. Canada Pension Plan Investment Board now owns 157,047 shares of the real estate investment trust’s stock valued at $28,834,000 after buying an additional 88,475 shares during the last quarter. Whittier Trust Co. boosted its position in AvalonBay Communities by 2.8% in the first quarter. Whittier Trust Co. now owns 1,144 shares of the real estate investment trust’s stock valued at $210,000 after buying an additional 31 shares during the period. Brookfield Asset Management Inc. boosted its position 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 valued at $153,220,000 after buying an additional 3,800 shares during the period. Norinchukin Bank The boosted its position in AvalonBay Communities by 7.1% in the first quarter. Norinchukin Bank The now owns 8,924 shares of the real estate investment trust’s stock valued at $1,638,000 after buying an additional 593 shares during the period. Finally, Karp Capital Management Corp purchased a new position in AvalonBay Communities during the first quarter valued at $10,513,000. 98.56% of the stock is owned by institutional investors.
AvalonBay Communities, Inc. (NYSE AVB) traded up 0.15% during mid-day trading on Wednesday, reaching $188.69. 34,656 shares of the company were exchanged. The stock has a 50 day moving average of $192.50 and a 200-day moving average of $185.64. The stock has a market capitalization of $25.93 billion, a price-to-earnings ratio of 25.14 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 posted its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $2.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by $0.02. The business had revenue of $522.33 million during the quarter, compared to analysts’ expectations of $520.56 million. AvalonBay Communities had a return on equity of 10.31% and a net margin of 50.12%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.97 EPS. On average, equities analysts expect that AvalonBay Communities, Inc. will post $5.11 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Wednesday, June 28th. AvalonBay Communities’s payout ratio is 75.63%.
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Several research analysts recently weighed in on AVB shares. JMP Securities cut shares of AvalonBay Communities from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 19th. They noted that the move was a valuation call. BMO Capital Markets restated a “hold” rating and set a $191.00 price target on shares of AvalonBay Communities in a report on Thursday, May 25th. Deutsche Bank AG cut shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $193.00 price target on the stock. in a report on Wednesday, May 17th. Evercore ISI cut their price target on shares of AvalonBay Communities from $188.00 to $186.00 and set an “in-line” rating on the stock in a report on Wednesday, April 19th. Finally, Jefferies Group LLC restated a “hold” rating and set a $196.00 price target on shares of AvalonBay Communities in a report on Monday, April 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $193.58.
In other AvalonBay Communities news, insider William M. Mclaughlin sold 5,112 shares of AvalonBay Communities stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $193.88, for a total transaction of $991,114.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Keri A. Shea sold 1,000 shares of AvalonBay Communities stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $192.36, for a total transaction of $192,360.00. The disclosure for this sale can be found here. In the last three months, insiders sold 42,336 shares of company stock worth $8,123,261. 0.53% of the stock is currently owned by insiders.
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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