Gulf International Bank UK Ltd Raises Stake in AvalonBay Communities Inc (AVB)

Gulf International Bank UK Ltd raised its holdings in shares of AvalonBay Communities Inc (NYSE:AVB) by 2.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,786 shares of the real estate investment trust’s stock after acquiring an additional 930 shares during the quarter. Gulf International Bank UK Ltd’s holdings in AvalonBay Communities were worth $6,581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. BlackRock Inc. lifted its position in AvalonBay Communities by 2.5% during the fourth quarter. BlackRock Inc. now owns 15,700,948 shares of the real estate investment trust’s stock valued at $2,732,748,000 after buying an additional 385,430 shares in the last quarter. FMR LLC lifted its position in AvalonBay Communities by 4.9% during the fourth quarter. FMR LLC now owns 3,715,588 shares of the real estate investment trust’s stock valued at $646,697,000 after buying an additional 172,264 shares in the last quarter. Northern Trust Corp lifted its position in AvalonBay Communities by 3.2% during the fourth quarter. Northern Trust Corp now owns 2,417,118 shares of the real estate investment trust’s stock valued at $420,700,000 after buying an additional 74,018 shares in the last quarter. Geode Capital Management LLC lifted its position in AvalonBay Communities by 9.1% during the fourth quarter. Geode Capital Management LLC now owns 2,297,292 shares of the real estate investment trust’s stock valued at $399,297,000 after buying an additional 191,867 shares in the last quarter. Finally, Morgan Stanley lifted its position in AvalonBay Communities by 6.0% during the third quarter. Morgan Stanley now owns 1,543,079 shares of the real estate investment trust’s stock valued at $279,528,000 after buying an additional 87,440 shares in the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AVB has been the topic of a number of recent research reports. Zacks Investment Research cut shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a research report on Thursday, January 17th. KeyCorp boosted their target price on shares of AvalonBay Communities from $199.00 to $207.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Citigroup cut shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $190.00 to $205.00 in a research report on Thursday, February 21st. They noted that the move was a valuation call. Argus reissued a “buy” rating and set a $215.00 target price on shares of AvalonBay Communities in a research report on Tuesday, April 30th. Finally, Mizuho cut shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $210.00 target price on the stock. in a research report on Wednesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. AvalonBay Communities currently has a consensus rating of “Hold” and a consensus price target of $201.25.

In other news, insider Leo S. Horey III sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $196.10, for a total transaction of $980,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Keri A. Shea sold 1,131 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $200.09, for a total transaction of $226,301.79. The disclosure for this sale can be found here. Insiders have sold 95,468 shares of company stock valued at $18,777,790 in the last 90 days. Insiders own 0.42% of the company’s stock.

AVB stock traded up $2.18 during trading on Friday, hitting $200.71. 403,636 shares of the company’s stock traded hands, compared to its average volume of 454,469. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.57 and a quick ratio of 0.63. AvalonBay Communities Inc has a 52 week low of $156.93 and a 52 week high of $204.53. The firm has a market cap of $27.98 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 3.80 and a beta of 0.59.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.02. AvalonBay Communities had a net margin of 45.94% and a return on equity of 9.52%. The firm had revenue of $459.80 million during the quarter, compared to analyst estimates of $575.92 million. During the same quarter in the previous year, the firm earned $2.18 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts expect that AvalonBay Communities Inc will post 9.32 EPS for the current fiscal year.

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

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