2,734 Shares in AvalonBay Communities Inc (AVB) Purchased by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of AvalonBay Communities Inc (NYSE:AVB) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,734 shares of the real estate investment trust’s stock, valued at approximately $476,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Legacy Financial Advisors Inc. raised its position in shares of AvalonBay Communities by 54.0% during the 4th quarter. Legacy Financial Advisors Inc. now owns 174 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 61 shares during the last quarter. Nalls Sherbakoff Group LLC bought a new stake in shares of AvalonBay Communities during the 4th quarter valued at $35,000. CNB Bank bought a new stake in shares of AvalonBay Communities during the 4th quarter valued at $41,000. Lindbrook Capital LLC bought a new stake in shares of AvalonBay Communities during the 4th quarter valued at $53,000. Finally, Rehmann Capital Advisory Group raised its position in shares of AvalonBay Communities by 24.4% during the 4th quarter. Rehmann Capital Advisory Group now owns 306 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 60 shares during the last quarter. 93.07% of the stock is currently owned by institutional investors and hedge funds.

In other AvalonBay Communities news, insider William M. Mclaughlin sold 2,500 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $199.76, for a total value of $499,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy J. Naughton sold 67,789 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $196.41, for a total transaction of $13,314,437.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,837 shares of company stock worth $18,248,863. Insiders own 0.42% of the company’s stock.

AVB has been the subject of several recent research reports. Zacks Investment Research upgraded shares of AvalonBay Communities from a “hold” rating to a “buy” rating and set a $200.00 target price for the company in a research report on Tuesday, January 15th. SunTrust Banks boosted their price target on shares of AvalonBay Communities to $208.00 and gave the company an “average” rating in a report on Thursday, February 14th. ValuEngine raised shares of AvalonBay Communities from a “hold” rating to a “buy” rating in a report on Thursday, January 24th. Citigroup lowered shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and boosted their price target for the company from $190.00 to $205.00 in a report on Thursday, February 21st. They noted that the move was a valuation call. Finally, KeyCorp boosted their price target on shares of AvalonBay Communities from $199.00 to $207.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $200.75.

NYSE:AVB traded up $2.32 on Friday, hitting $196.15. 593,447 shares of the company’s stock were exchanged, compared to its average volume of 519,952. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market capitalization of $27.20 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 3.72 and a beta of 0.61. AvalonBay Communities Inc has a 52 week low of $156.93 and a 52 week high of $204.53.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, February 4th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.32 by ($0.01). The firm had revenue of $578.52 million during the quarter, compared to the consensus estimate of $576.56 million. AvalonBay Communities had a net margin of 42.66% and a return on equity of 9.33%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.72 earnings per share. On average, analysts anticipate that AvalonBay Communities Inc will post 9.32 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a $1.52 dividend. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.47. This represents a $6.08 annualized dividend and a yield of 3.10%. The ex-dividend date was Thursday, March 28th. AvalonBay Communities’s dividend payout ratio is currently 67.56%.

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About AvalonBay Communities

As of December 31, 2018, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,158 apartment homes in 12 states and the District of Columbia, of which 21 communities were under development and nine 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.

Further Reading: Quiet Period Expirations

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

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