MEAG MUNICH ERGO AssetManagement GmbH lifted its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 5.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,495 shares of the real estate investment trust’s stock after acquiring an additional 5,300 shares during the period. AvalonBay Communities makes up 9.2% of MEAG MUNICH ERGO AssetManagement GmbH’s portfolio, making the stock its 5th largest holding. MEAG MUNICH ERGO AssetManagement GmbH owned approximately 0.08% of AvalonBay Communities worth $19,358,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in AVB. FMR LLC lifted its holdings in shares of AvalonBay Communities by 22.2% during the second quarter. FMR LLC now owns 5,341,390 shares of the real estate investment trust’s stock valued at $1,026,454,000 after acquiring an additional 969,095 shares during the period. Koch Industries Inc. bought a new position in shares of AvalonBay Communities during the second quarter valued at $365,000. Harbour Capital Advisors LLC lifted its holdings in shares of AvalonBay Communities by 19,117.0% during the second quarter. Harbour Capital Advisors LLC now owns 329,572 shares of the real estate investment trust’s stock valued at $1,715,000 after acquiring an additional 327,857 shares during the period. Old Mutual Global Investors UK Ltd. lifted its holdings in shares of AvalonBay Communities by 185.9% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 504,090 shares of the real estate investment trust’s stock valued at $89,939,000 after acquiring an additional 327,763 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of AvalonBay Communities by 316.7% during the third quarter. Canada Pension Plan Investment Board now owns 407,714 shares of the real estate investment trust’s stock valued at $72,744,000 after acquiring an additional 309,867 shares during the period. Institutional investors and hedge funds own 96.85% of the company’s stock.
Shares of AvalonBay Communities, Inc. (NYSE AVB) traded down $0.31 during trading on Monday, hitting $187.16. The stock had a trading volume of 460,700 shares, compared to its average volume of 686,482. AvalonBay Communities, Inc. has a one year low of $158.32 and a one year high of $199.52. The company has a market cap of $25,844.53, a PE ratio of 22.05, a P/E/G ratio of 2.94 and a beta of 0.36. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.69.
AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.45). The business had revenue of $550.50 million for the quarter, compared to analyst estimates of $539.69 million. AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.11 earnings per share. analysts forecast that AvalonBay Communities, Inc. will post 8.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Thursday, December 28th. AvalonBay Communities’s payout ratio is presently 88.75%.
AVB has been the subject of a number of research reports. Stifel Nicolaus restated a “buy” rating and issued a $209.00 target price on shares of AvalonBay Communities in a research note on Wednesday, October 4th. Robert W. Baird restated a “buy” rating and issued a $202.00 target price on shares of AvalonBay Communities in a research note on Friday, September 1st. BidaskClub lowered AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Mizuho reiterated a “buy” rating and issued a $220.00 price objective on shares of AvalonBay Communities in a research report on Monday, November 6th. Finally, Royal Bank Of Canada lowered their price objective on AvalonBay Communities from $206.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $199.27.
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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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