Checchi Capital Advisers LLC purchased a new position in AvalonBay Communities Inc (NYSE:AVB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,151 shares of the real estate investment trust’s stock, valued at approximately $209,000.
A number of other hedge funds have also bought and sold shares of AVB. Principal Financial Group Inc. boosted its stake in AvalonBay Communities by 8.1% in the 1st quarter. Principal Financial Group Inc. now owns 3,092,546 shares of the real estate investment trust’s stock worth $508,600,000 after purchasing an additional 232,456 shares during the period. LPL Financial LLC boosted its stake in AvalonBay Communities by 63.7% in the 1st quarter. LPL Financial LLC now owns 3,346 shares of the real estate investment trust’s stock worth $550,000 after purchasing an additional 1,302 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in AvalonBay Communities in the 1st quarter worth approximately $318,000. Brown Advisory Inc. boosted its stake in AvalonBay Communities by 1.8% in the 1st quarter. Brown Advisory Inc. now owns 22,429 shares of the real estate investment trust’s stock worth $3,689,000 after purchasing an additional 389 shares during the period. Finally, Gulf International Bank UK Ltd boosted its stake in AvalonBay Communities by 5.3% in the 2nd quarter. Gulf International Bank UK Ltd now owns 45,835 shares of the real estate investment trust’s stock worth $7,878,000 after purchasing an additional 2,300 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.
In related news, CFO Kevin P. O’shea sold 2,000 shares of the stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $179.85, for a total transaction of $359,700.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Sean J. Breslin sold 7,200 shares of the stock in a transaction on Friday, August 24th. The shares were sold at an average price of $182.20, for a total value of $1,311,840.00. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.
NYSE AVB opened at $178.61 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The company has a market cap of $24.17 billion, a PE ratio of 19.97, a PEG ratio of 2.64 and a beta of 0.33. AvalonBay Communities Inc has a one year low of $152.65 and a one year high of $188.91.
AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, October 29th. The real estate investment trust reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.87). The firm had revenue of $575.98 million for the quarter, compared to the consensus estimate of $573.87 million. AvalonBay Communities had a net margin of 36.54% and a return on equity of 7.97%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.72 earnings per share. On average, sell-side analysts expect that AvalonBay Communities Inc will post 8.99 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a dividend of $1.47 per share. The ex-dividend date was Thursday, September 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.29%. AvalonBay Communities’s dividend payout ratio is currently 68.21%.
AvalonBay Communities Profile
As of June 30, 2018, the Company owned or held a direct or indirect ownership interest in 287 apartment communities containing 84,043 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 16 communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.
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