Swedbank AB Sells 3,554 Shares of AvalonBay Communities, Inc. $AVB

Swedbank AB cut its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 5.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,084 shares of the real estate investment trust’s stock after selling 3,554 shares during the quarter. Swedbank AB’s holdings in AvalonBay Communities were worth $11,413,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in AvalonBay Communities by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 22,800,375 shares of the real estate investment trust’s stock valued at $4,639,876,000 after acquiring an additional 127,693 shares during the period. State Street Corp grew its position in shares of AvalonBay Communities by 2.0% in the second quarter. State Street Corp now owns 9,445,499 shares of the real estate investment trust’s stock valued at $1,938,326,000 after purchasing an additional 182,952 shares during the last quarter. Norges Bank bought a new position in shares of AvalonBay Communities during the second quarter worth approximately $1,394,225,000. JPMorgan Chase & Co. lifted its holdings in AvalonBay Communities by 4.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,966,650 shares of the real estate investment trust’s stock worth $807,220,000 after purchasing an additional 152,220 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in AvalonBay Communities by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 3,875,614 shares of the real estate investment trust’s stock worth $785,551,000 after purchasing an additional 57,599 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Trading Up 0.0%

AVB opened at $183.15 on Friday. AvalonBay Communities, Inc. has a twelve month low of $166.73 and a twelve month high of $230.21. The company has a 50-day simple moving average of $179.98 and a 200 day simple moving average of $190.18. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $25.93 billion, a price-to-earnings ratio of 22.36, a P/E/G ratio of 3.22 and a beta of 0.74.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 EPS for the quarter, missing the consensus estimate of $2.81 by ($0.06). AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.72%. The firm had revenue of $766.80 million during the quarter, compared to the consensus estimate of $766.22 million. During the same period in the prior year, the business earned $2.74 earnings per share. Analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $1.75 per share. The ex-dividend date is Wednesday, December 31st. This represents a $7.00 annualized dividend and a yield of 3.8%. AvalonBay Communities’s dividend payout ratio is presently 85.47%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. BNP Paribas Exane lowered AvalonBay Communities from an “outperform” rating to a “neutral” rating in a report on Monday, September 29th. Mizuho decreased their price target on shares of AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a research report on Tuesday, October 14th. Scotiabank cut their price objective on shares of AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. Finally, Cantor Fitzgerald began coverage on shares of AvalonBay Communities in a research report on Wednesday, October 1st. They set a “neutral” rating and a $205.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, AvalonBay Communities currently has a consensus rating of “Hold” and an average price target of $205.89.

About AvalonBay Communities

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.