State of Alaska Department of Revenue lessened its position in shares of AvalonBay Communities Inc (NYSE:AVB) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,326 shares of the real estate investment trust’s stock after selling 5,243 shares during the quarter. State of Alaska Department of Revenue’s holdings in AvalonBay Communities were worth $12,375,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of AVB. Adviser Investments LLC acquired a new position in AvalonBay Communities during the 2nd quarter valued at approximately $124,000. Assetmark Inc. increased its stake in AvalonBay Communities by 44.1% during the 1st quarter. Assetmark Inc. now owns 1,156 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 354 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new position in AvalonBay Communities during the 1st quarter valued at approximately $201,000. HRT Financial LLC acquired a new position in AvalonBay Communities during the 2nd quarter valued at approximately $201,000. Finally, Whittier Trust Co. increased its stake in AvalonBay Communities by 86.2% during the 2nd quarter. Whittier Trust Co. now owns 1,873 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 867 shares in the last quarter. Hedge funds and other institutional investors own 93.16% of the company’s stock.
AVB has been the topic of a number of recent analyst reports. Deutsche Bank upped their price target on shares of AvalonBay Communities from $186.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, September 5th. Evercore ISI set a $194.00 price target on shares of AvalonBay Communities and gave the company a “buy” rating in a research note on Monday, October 1st. Zelman & Associates lowered shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. Mizuho restated a “buy” rating and set a $212.00 price target on shares of AvalonBay Communities in a research note on Monday, August 6th. Finally, ValuEngine upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. AvalonBay Communities has a consensus rating of “Hold” and a consensus target price of $192.50.
NYSE:AVB opened at $178.36 on Thursday. The firm has a market capitalization of $25.04 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 2.65 and a beta of 0.33. AvalonBay Communities Inc has a 1-year low of $152.65 and a 1-year high of $188.91. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.73.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $1.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.20 by ($0.36). The business had revenue of $569.24 million during the quarter, compared to analyst estimates of $565.41 million. AvalonBay Communities had a return on equity of 8.42% and a net margin of 39.01%. During the same quarter in the previous year, the company earned $2.09 EPS. Research analysts predict that AvalonBay Communities Inc will post 8.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be paid a $1.47 dividend. The ex-dividend date is Thursday, September 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.30%. AvalonBay Communities’s payout ratio is currently 68.21%.
AvalonBay Communities Profile
As of June 30, 2018, the Company owned or held a direct or indirect ownership interest in 287 apartment communities containing 84,043 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 16 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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