Cbre Investment Management Listed Real Assets LLC Has $55.55 Million Position in AvalonBay Communities, Inc. $AVB

Cbre Investment Management Listed Real Assets LLC cut its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 25.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 287,544 shares of the real estate investment trust’s stock after selling 100,264 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned approximately 0.20% of AvalonBay Communities worth $55,545,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new position in shares of AvalonBay Communities during the second quarter valued at about $1,394,225,000. Invesco Ltd. grew its stake in shares of AvalonBay Communities by 70.2% in the 2nd quarter. Invesco Ltd. now owns 2,593,727 shares of the real estate investment trust’s stock valued at $527,823,000 after buying an additional 1,069,793 shares during the period. Bank of America Corp DE grew its stake in shares of AvalonBay Communities by 77.1% in the 2nd quarter. Bank of America Corp DE now owns 1,338,552 shares of the real estate investment trust’s stock valued at $272,395,000 after buying an additional 582,724 shares during the period. Charles Schwab Investment Management Inc. increased its position in AvalonBay Communities by 23.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,816,163 shares of the real estate investment trust’s stock valued at $573,091,000 after buying an additional 530,274 shares in the last quarter. Finally, Bahl & Gaynor Inc. raised its stake in AvalonBay Communities by 126.5% during the 3rd quarter. Bahl & Gaynor Inc. now owns 555,832 shares of the real estate investment trust’s stock worth $107,370,000 after buying an additional 310,412 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

NYSE AVB opened at $171.74 on Thursday. The company has a fifty day moving average price of $177.70 and a 200-day moving average price of $182.45. The firm has a market cap of $24.06 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 3.06 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.77 and a quick ratio of 0.77. AvalonBay Communities, Inc. has a 1 year low of $166.73 and a 1 year high of $217.32.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.01. AvalonBay Communities had a net margin of 34.57% and a return on equity of 8.78%. The company had revenue of $767.86 million for the quarter, compared to analyst estimates of $766.38 million. During the same period last year, the firm earned $2.80 earnings per share. As a group, equities research analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.75. AvalonBay Communities’s payout ratio is 86.94%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Royal Bank Of Canada cut their price target on AvalonBay Communities from $191.00 to $187.00 and set a “sector perform” rating on the stock in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft lowered AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 target price on the stock. in a research report on Tuesday, January 20th. UBS Group lowered their target price on AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Cantor Fitzgerald increased their target price on AvalonBay Communities from $179.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Finally, Barclays decreased their price target on shares of AvalonBay Communities from $217.00 to $202.00 and set an “overweight” rating for the company in a research note on Friday, March 6th. Five investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $199.66.

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.