LS Investment Advisors LLC increased its stake in AvalonBay Communities Inc. (NYSE:AVB) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,483 shares of the real estate investment trust’s stock after buying an additional 48 shares during the period. LS Investment Advisors LLC’s holdings in AvalonBay Communities were worth $1,711,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Financial Corp IN increased its stake in AvalonBay Communities by 21.8% in the second quarter. First Financial Corp IN now owns 559 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 100 shares during the last quarter. IFP Advisors Inc increased its stake in AvalonBay Communities by 24.8% in the first quarter. IFP Advisors Inc now owns 1,003 shares of the real estate investment trust’s stock worth $191,000 after buying an additional 199 shares during the last quarter. West Oak Capital LLC increased its stake in AvalonBay Communities by 1.9% in the second quarter. West Oak Capital LLC now owns 1,060 shares of the real estate investment trust’s stock worth $191,000 after buying an additional 20 shares during the last quarter. Catawba Capital Management VA bought a new stake in AvalonBay Communities during the second quarter worth $202,000. Finally, Boothbay Fund Management LLC bought a new stake in AvalonBay Communities during the first quarter worth $338,000. Institutional investors own 96.58% of the company’s stock.
Shares of AvalonBay Communities Inc. (NYSE:AVB) traded down 0.79% during mid-day trading on Friday, reaching $165.63. The company’s stock had a trading volume of 873,610 shares. The company has a 50-day moving average of $175.30 and a 200-day moving average of $180.02. AvalonBay Communities Inc. has a 12 month low of $160.66 and a 12 month high of $192.29. The company has a market cap of $22.74 billion, a P/E ratio of 28.41 and a beta of 0.57.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Monday, July 25th. The real estate investment trust reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.09 by $0.10. AvalonBay Communities had a net margin of 43.34% and a return on equity of 8.10%. The business had revenue of $502.30 million for the quarter, compared to analysts’ expectations of $500.25 million. During the same quarter in the previous year, the company earned $1.87 earnings per share. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that AvalonBay Communities Inc. will post $8.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. AvalonBay Communities’s dividend payout ratio is currently 92.62%.
AVB has been the subject of a number of recent research reports. Sandler O’Neill upgraded AvalonBay Communities from a “hold” rating to a “buy” rating in a report on Tuesday, September 6th. Deutsche Bank AG decreased their price objective on AvalonBay Communities from $194.00 to $193.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. KeyCorp downgraded AvalonBay Communities to an “overweight” rating in a report on Friday, July 15th. Jefferies Group restated a “hold” rating on shares of AvalonBay Communities in a report on Tuesday, September 6th. Finally, Evercore ISI downgraded AvalonBay Communities from a “buy” rating to a “hold” rating and decreased their price objective for the company from $189.00 to $187.00 in a report on Friday, July 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. AvalonBay Communities presently has an average rating of “Hold” and a consensus price target of $195.47.
In other news, insider Matthew H. Birenbaum sold 6,984 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $185.00, for a total transaction of $1,292,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Sean J. Breslin sold 1,000 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $185.71, for a total transaction of $185,710.00. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust. The Company focuses on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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