Edgestream Partners L.P. raised its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 45.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,717 shares of the real estate investment trust’s stock after purchasing an additional 539 shares during the quarter. Edgestream Partners L.P.’s holdings in AvalonBay Communities were worth $330,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Advisors Asset Management Inc. grew its stake in AvalonBay Communities by 90.0% during the first quarter. Advisors Asset Management Inc. now owns 12,413 shares of the real estate investment trust’s stock worth $2,279,000 after buying an additional 5,880 shares during the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of AvalonBay Communities by 4.9% during the first quarter. Xact Kapitalforvaltning AB now owns 27,654 shares of the real estate investment trust’s stock worth $5,077,000 after purchasing an additional 1,299 shares in the last quarter. Accuvest Global Advisors acquired a new position in shares of AvalonBay Communities during the first quarter worth approximately $445,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of AvalonBay Communities by 1.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,857 shares of the real estate investment trust’s stock worth $10,255,000 after purchasing an additional 989 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of AvalonBay Communities during the first quarter worth approximately $613,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.
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A number of brokerages have recently issued reports on AVB. Goldman Sachs Group, Inc. (The) lowered shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 target price on the stock. in a research report on Tuesday, September 5th. Robert W. Baird restated a “buy” rating and issued a $202.00 price objective on shares of AvalonBay Communities in a report on Friday, September 1st. Stifel Nicolaus restated a “buy” rating and issued a $209.00 price objective on shares of AvalonBay Communities in a report on Friday, September 1st. Deutsche Bank AG upped their target price on shares of AvalonBay Communities from $193.00 to $195.00 and gave the company a “hold” rating in a research note on Friday, August 18th. Finally, BidaskClub downgraded shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $195.47.
AvalonBay Communities, Inc. (AVB) traded down 0.26% on Friday, reaching $183.26. 528,550 shares of the company were exchanged. AvalonBay Communities, Inc. has a 12-month low of $158.32 and a 12-month high of $199.52. The stock has a market capitalization of $25.24 billion, a P/E ratio of 25.24 and a beta of 0.35. The company’s 50-day moving average price is $188.68 and its 200-day moving average price is $188.91.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $530.51 million for the quarter, compared to analysts’ expectations of $529.48 million. During the same period in the previous year, the firm earned $2.03 earnings per share. Equities research analysts anticipate that AvalonBay Communities, Inc. will post $5.19 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.09%. AvalonBay Communities’s dividend payout ratio is presently 78.13%.
About AvalonBay Communities
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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