American Century Companies Inc. decreased its holdings in AvalonBay Communities Inc (NYSE:AVB) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 375,629 shares of the real estate investment trust’s stock after selling 34,592 shares during the period. American Century Companies Inc. owned 0.27% of AvalonBay Communities worth $65,378,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legacy Financial Advisors Inc. raised its holdings in shares of AvalonBay Communities by 54.0% in the fourth quarter. Legacy Financial Advisors Inc. now owns 174 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 61 shares during the period. Nalls Sherbakoff Group LLC purchased a new stake in shares of AvalonBay Communities in the fourth quarter worth approximately $35,000. CNB Bank purchased a new stake in shares of AvalonBay Communities in the fourth quarter worth approximately $41,000. Lindbrook Capital LLC purchased a new stake in shares of AvalonBay Communities in the fourth quarter worth approximately $53,000. Finally, Rehmann Capital Advisory Group raised its holdings in shares of AvalonBay Communities by 24.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 306 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 60 shares during the period. 92.93% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on AVB shares. Zacks Investment Research upgraded AvalonBay Communities from a “hold” rating to a “buy” rating and set a $200.00 price target on the stock in a report on Tuesday, January 15th. SunTrust Banks raised their price objective on AvalonBay Communities to $208.00 and gave the stock an “average” rating in a report on Thursday, February 14th. ValuEngine upgraded AvalonBay Communities from a “hold” rating to a “buy” rating in a report on Thursday, January 24th. Citigroup downgraded AvalonBay Communities from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $190.00 to $205.00 in a report on Thursday, February 21st. They noted that the move was a valuation call. Finally, KeyCorp raised their price objective on AvalonBay Communities from $199.00 to $207.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $200.75.
Shares of AvalonBay Communities stock traded up $0.57 during trading on Friday, reaching $200.52. The company’s stock had a trading volume of 336,022 shares, compared to its average volume of 563,391. 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 $27.78 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 3.72 and a beta of 0.61. AvalonBay Communities Inc has a 1-year low of $156.93 and a 1-year high of $204.53.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.02. The firm had revenue of $459.80 million during the quarter, compared to analysts’ expectations of $575.92 million. AvalonBay Communities had a return on equity of 9.33% and a net margin of 42.66%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.18 EPS. On average, equities research analysts anticipate that AvalonBay Communities Inc will post 9.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a $1.52 dividend. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.47. The ex-dividend date was Thursday, March 28th. This represents a $6.08 dividend on an annualized basis and a dividend yield of 3.03%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 67.56%.
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AvalonBay Communities Company Profile
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.
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