Northwestern Mutual Investment Management Company LLC Sells 22,529 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Northwestern Mutual Investment Management Company LLC lessened its position in AvalonBay Communities, Inc. (NYSE:AVB) by 81.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 5,232 shares of the real estate investment trust’s stock after selling 22,529 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in AvalonBay Communities were worth $944,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. IBM Retirement Fund boosted its position in shares of AvalonBay Communities by 120.1% during the second quarter. IBM Retirement Fund now owns 3,374 shares of the real estate investment trust’s stock valued at $724,000 after buying an additional 1,841 shares during the last quarter. Swiss National Bank lifted its holdings in AvalonBay Communities by 2.0% during the second quarter. Swiss National Bank now owns 849,580 shares of the real estate investment trust’s stock worth $163,264,000 after acquiring an additional 16,400 shares during the period. Norinchukin Bank The lifted its holdings in AvalonBay Communities by 7.1% during the first quarter. Norinchukin Bank The now owns 8,924 shares of the real estate investment trust’s stock worth $1,638,000 after acquiring an additional 593 shares during the period. State Treasurer State of Michigan lifted its holdings in AvalonBay Communities by 0.4% during the second quarter. State Treasurer State of Michigan now owns 45,323 shares of the real estate investment trust’s stock worth $8,710,000 after acquiring an additional 200 shares during the period. Finally, Utah Retirement Systems lifted its holdings in AvalonBay Communities by 0.4% during the second quarter. Utah Retirement Systems now owns 29,135 shares of the real estate investment trust’s stock worth $5,599,000 after acquiring an additional 115 shares during the period. 97.52% of the stock is currently owned by institutional investors.

A number of brokerages recently commented on AVB. Royal Bank Of Canada reiterated a “buy” rating and set a $203.00 price target on shares of AvalonBay Communities in a report on Sunday, July 16th. Argus assumed coverage on AvalonBay Communities in a report on Thursday, June 22nd. They set a “buy” rating and a $220.00 price target on the stock. BidaskClub upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Jefferies Group LLC restated a “hold” rating and issued a $196.00 target price on shares of AvalonBay Communities in a research note on Tuesday, July 4th. Finally, BMO Capital Markets restated a “hold” rating and issued a $191.00 target price on shares of AvalonBay Communities in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. AvalonBay Communities has a consensus rating of “Hold” and an average price target of $195.47.

AvalonBay Communities, Inc. (AVB) opened at 178.52 on Friday. The company’s 50-day moving average price is $187.92 and its 200 day moving average price is $188.99. The stock has a market capitalization of $24.58 billion, a PE ratio of 24.59 and a beta of 0.35. AvalonBay Communities, Inc. has a 52-week low of $158.32 and a 52-week high of $199.52.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.14 by ($0.05). AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. The business had revenue of $530.51 million during the quarter, compared to analysts’ expectations of $529.48 million. During the same period in the prior year, the business earned $2.03 EPS. Equities analysts forecast that AvalonBay Communities, Inc. will post $5.19 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a $1.42 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $5.68 annualized dividend and a yield of 3.18%. AvalonBay Communities’s dividend payout ratio is presently 78.13%.

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AvalonBay Communities 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.

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

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