Davis Selected Advisers Purchases 8,760 Shares of AvalonBay Communities, Inc. $AVB

Davis Selected Advisers grew its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 15.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,580 shares of the real estate investment trust’s stock after purchasing an additional 8,760 shares during the period. Davis Selected Advisers’ holdings in AvalonBay Communities were worth $12,861,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVB. Mather Group LLC. purchased a new stake in AvalonBay Communities in the third quarter worth approximately $30,000. BOKF NA purchased a new position in shares of AvalonBay Communities during the third quarter worth approximately $31,000. AlphaQuest LLC bought a new stake in shares of AvalonBay Communities in the 3rd quarter worth approximately $33,000. Headlands Technologies LLC bought a new stake in shares of AvalonBay Communities in the 2nd quarter worth approximately $36,000. Finally, Fulcrum Asset Management LLP purchased a new stake in shares of AvalonBay Communities in the 3rd quarter valued at $37,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Morgan Stanley reduced their target price on shares of AvalonBay Communities from $222.50 to $208.00 and set an “overweight” rating on the stock in a report on Monday. Colliers Securities restated a “neutral” rating and set a $195.00 price target (down from $200.00) on shares of AvalonBay Communities in a research report on Thursday, December 4th. Scotiabank reduced their price objective on AvalonBay Communities from $193.00 to $190.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 4th. UBS Group decreased their price objective on AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Finally, Deutsche Bank Aktiengesellschaft cut AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 target price for the company. in a report on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AvalonBay Communities has an average rating of “Hold” and an average target price of $198.75.

AvalonBay Communities Trading Down 2.6%

Shares of AVB opened at $166.12 on Thursday. The stock has a market capitalization of $23.27 billion, a P/E ratio of 20.28, a PEG ratio of 2.99 and a beta of 0.75. AvalonBay Communities, Inc. has a twelve month low of $165.34 and a twelve month high of $217.32. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.79. The firm has a fifty day simple moving average of $176.50 and a two-hundred day simple moving average of $181.58.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.01. The firm had revenue of $767.86 million for the quarter, compared to analysts’ expectations of $766.38 million. AvalonBay Communities had a net margin of 34.57% and a return on equity of 8.78%. During the same quarter in the previous year, the company earned $2.80 earnings per share. On average, research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $1.78 per share. The ex-dividend date is Tuesday, March 31st. This represents a $7.12 dividend on an annualized basis and a yield of 4.3%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.75. AvalonBay Communities’s dividend payout ratio (DPR) is presently 85.47%.

About AvalonBay Communities

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.