Virginia Retirement Systems ET AL Sells 13,300 Shares of AvalonBay Communities Inc (NYSE:AVB)

Virginia Retirement Systems ET AL decreased its holdings in AvalonBay Communities Inc (NYSE:AVB) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,221 shares of the real estate investment trust’s stock after selling 13,300 shares during the period. Virginia Retirement Systems ET AL owned 0.14% of AvalonBay Communities worth $42,196,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in AvalonBay Communities by 0.5% during the second quarter. BlackRock Inc. now owns 16,102,048 shares of the real estate investment trust’s stock valued at $3,271,615,000 after buying an additional 82,949 shares during the last quarter. State Street Corp boosted its stake in AvalonBay Communities by 2.5% during the third quarter. State Street Corp now owns 10,133,144 shares of the real estate investment trust’s stock valued at $2,197,253,000 after buying an additional 243,424 shares during the last quarter. PGGM Investments boosted its stake in AvalonBay Communities by 8.8% during the fourth quarter. PGGM Investments now owns 2,084,685 shares of the real estate investment trust’s stock valued at $437,158,000 after buying an additional 168,685 shares during the last quarter. Parnassus Investments CA boosted its stake in AvalonBay Communities by 5.0% during the third quarter. Parnassus Investments CA now owns 1,455,706 shares of the real estate investment trust’s stock valued at $313,457,000 after buying an additional 69,533 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in AvalonBay Communities by 7.2% during the third quarter. California Public Employees Retirement System now owns 1,148,130 shares of the real estate investment trust’s stock valued at $247,227,000 after buying an additional 77,065 shares during the last quarter. 92.25% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on the company. Mizuho raised AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $230.00 price target for the company in a research note on Wednesday, January 15th. Evercore ISI raised AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $225.00 price target for the company in a research note on Tuesday, November 19th. SunTrust Banks increased their price target on AvalonBay Communities from $218.00 to $226.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. BMO Capital Markets lowered AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price target for the company. in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and set a $230.00 price target for the company in a research note on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $226.69.

In other AvalonBay Communities news, COO Sean J. Breslin sold 777 shares of AvalonBay Communities stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $213.51, for a total value of $165,897.27. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy J. Naughton sold 26,634 shares of AvalonBay Communities stock in a transaction on Friday, November 15th. The shares were sold at an average price of $213.60, for a total transaction of $5,689,022.40. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

Shares of AvalonBay Communities stock traded down $0.40 on Monday, hitting $218.93. The company’s stock had a trading volume of 13,157 shares, compared to its average volume of 626,187. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.89 and a current ratio of 0.89. AvalonBay Communities Inc has a 1 year low of $185.36 and a 1 year high of $222.87. The firm has a fifty day moving average price of $210.78 and a 200-day moving average price of $211.76. The company has a market capitalization of $30.63 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 3.63 and a beta of 0.45.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Monday, October 28th. The real estate investment trust reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.80. AvalonBay Communities had a net margin of 45.56% and a return on equity of 9.35%. The business had revenue of $587.61 million during the quarter, compared to the consensus estimate of $585.86 million. During the same quarter in the prior year, the firm earned $1.39 earnings per share. As a group, analysts forecast that AvalonBay Communities Inc will post 9.31 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $1.52 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $6.08 dividend on an annualized basis and a yield of 2.78%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 67.56%.

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

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