Royal London Asset Management Ltd. Purchases 6,435 Shares of AvalonBay Communities Inc (AVB)

Royal London Asset Management Ltd. grew its stake in AvalonBay Communities Inc (NYSE:AVB) by 10.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 67,839 shares of the real estate investment trust’s stock after purchasing an additional 6,435 shares during the quarter. Royal London Asset Management Ltd.’s holdings in AvalonBay Communities were worth $12,288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Treasurer State of Michigan grew its holdings in shares of AvalonBay Communities by 0.7% in the 2nd quarter. State Treasurer State of Michigan now owns 40,923 shares of the real estate investment trust’s stock valued at $7,034,000 after acquiring an additional 300 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in AvalonBay Communities by 2.1% during the second quarter. Oregon Public Employees Retirement Fund now owns 15,099 shares of the real estate investment trust’s stock worth $2,595,000 after purchasing an additional 316 shares during the period. Comerica Bank grew its holdings in AvalonBay Communities by 0.4% during the second quarter. Comerica Bank now owns 89,036 shares of the real estate investment trust’s stock worth $15,258,000 after purchasing an additional 354 shares during the period. Sumitomo Life Insurance Co. grew its holdings in AvalonBay Communities by 4.5% during the second quarter. Sumitomo Life Insurance Co. now owns 8,605 shares of the real estate investment trust’s stock worth $1,479,000 after purchasing an additional 369 shares during the period. Finally, Mount Yale Investment Advisors LLC grew its holdings in AvalonBay Communities by 30.3% during the second quarter. Mount Yale Investment Advisors LLC now owns 1,594 shares of the real estate investment trust’s stock worth $274,000 after purchasing an additional 371 shares during the period. Institutional investors own 93.55% of the company’s stock.

In other news, CFO Kevin P. O’shea sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $179.51, for a total transaction of $269,265.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Sean J. Breslin sold 7,200 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $182.20, for a total value of $1,311,840.00. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

A number of equities analysts recently commented on AVB shares. ValuEngine upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Stifel Nicolaus lifted their price target on AvalonBay Communities from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Mizuho reiterated a “buy” rating and set a $212.00 price target on shares of AvalonBay Communities in a report on Monday, August 6th. Zelman & Associates cut AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Monday, August 6th. Finally, Robert W. Baird cut AvalonBay Communities from an “outperform” rating to a “neutral” rating and set a $197.00 price target for the company. in a report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. AvalonBay Communities has an average rating of “Hold” and a consensus target price of $191.88.

Shares of NYSE:AVB opened at $187.75 on Tuesday. AvalonBay Communities Inc has a 12-month low of $152.65 and a 12-month high of $187.80. The company has a market cap of $25.65 billion, a PE ratio of 21.78, a PEG ratio of 2.81 and a beta of 0.38. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.77 and a quick ratio of 0.77.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.87). AvalonBay Communities had a return on equity of 7.96% and a net margin of 36.54%. The firm had revenue of $575.98 million for the quarter, compared to the consensus estimate of $573.87 million. During the same quarter in the prior year, the firm earned $1.72 EPS. The company’s revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts predict that AvalonBay Communities Inc will post 8.99 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Friday, December 28th. AvalonBay Communities’s dividend payout ratio is presently 68.21%.

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About AvalonBay Communities

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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Want to see what other hedge funds are holding AVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AvalonBay Communities Inc (NYSE:AVB).

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

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