Parametric Portfolio Associates LLC increased its stake in AvalonBay Communities Inc (NYSE:AVB) by 6.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 356,602 shares of the real estate investment trust’s stock after acquiring an additional 20,759 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in AvalonBay Communities were worth $71,581,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC increased its holdings in AvalonBay Communities by 84.2% in the first quarter. Parallel Advisors LLC now owns 337 shares of the real estate investment trust’s stock worth $68,000 after purchasing an additional 154 shares in the last quarter. Calamos Advisors LLC increased its holdings in AvalonBay Communities by 1.0% in the first quarter. Calamos Advisors LLC now owns 19,004 shares of the real estate investment trust’s stock worth $3,815,000 after purchasing an additional 187 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in AvalonBay Communities by 2.7% in the first quarter. Wedge Capital Management L L P NC now owns 472,813 shares of the real estate investment trust’s stock worth $94,908,000 after purchasing an additional 12,221 shares in the last quarter. Eii Capital Management Inc. increased its holdings in AvalonBay Communities by 4.8% in the fourth quarter. Eii Capital Management Inc. now owns 25,764 shares of the real estate investment trust’s stock worth $4,484,000 after purchasing an additional 1,179 shares in the last quarter. Finally, Keeler Thomas Management LLC increased its holdings in AvalonBay Communities by 16.2% in the first quarter. Keeler Thomas Management LLC now owns 4,300 shares of the real estate investment trust’s stock worth $863,000 after purchasing an additional 600 shares in the last quarter. 91.89% of the stock is currently owned by institutional investors.
Shares of AvalonBay Communities stock opened at $205.28 on Monday. AvalonBay Communities Inc has a 12-month low of $159.45 and a 12-month high of $204.53. The firm has a market cap of $28.62 billion, a P/E ratio of 22.81, a P/E/G ratio of 3.93 and a beta of 0.59. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.67.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $1.52 per share. The ex-dividend date is Thursday, June 27th. This represents a $6.08 annualized dividend and a yield of 2.96%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 67.56%.
In related news, EVP Edward M. Schulman sold 4,092 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $198.94, for a total transaction of $814,062.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Leo S. Horey III sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $196.10, for a total value of $980,500.00. 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 quarter. 0.42% of the stock is currently owned by corporate insiders.
AVB has been the subject of several recent research reports. SunTrust Banks boosted their price objective on AvalonBay Communities to $208.00 and gave the company an “average” rating in a report on Thursday, February 14th. Citigroup downgraded AvalonBay Communities from a “buy” rating to a “neutral” rating and boosted their price objective 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. KeyCorp boosted their price objective on AvalonBay Communities from $199.00 to $207.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Barclays boosted their price objective on AvalonBay Communities from $203.00 to $211.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Finally, Argus restated a “buy” rating and set a $215.00 price objective on shares of AvalonBay Communities in a report on Tuesday, April 30th. 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. AvalonBay Communities presently has an average rating of “Hold” and an average price target of $202.38.
AvalonBay Communities Company Profile
As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 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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