AvalonBay Communities, Inc. $AVB Shares Purchased by USS Investment Management Ltd

USS Investment Management Ltd increased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 9.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,502 shares of the real estate investment trust’s stock after buying an additional 3,267 shares during the quarter. USS Investment Management Ltd’s holdings in AvalonBay Communities were worth $6,124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Reflection Asset Management acquired a new position in shares of AvalonBay Communities during the 4th quarter valued at about $25,000. Zions Bancorporation National Association UT grew its holdings in AvalonBay Communities by 300.0% in the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares during the period. BOKF NA purchased a new stake in AvalonBay Communities in the third quarter valued at approximately $31,000. Elyxium Wealth LLC acquired a new position in AvalonBay Communities during the fourth quarter worth approximately $32,000. Finally, Headlands Technologies LLC acquired a new position in AvalonBay Communities during the second quarter worth approximately $36,000. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Trading Up 1.7%

NYSE:AVB opened at $193.62 on Friday. The business’s 50-day moving average is $184.23 and its two-hundred day moving average is $178.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62. AvalonBay Communities, Inc. has a 12 month low of $160.10 and a 12 month high of $205.00. The firm has a market capitalization of $26.93 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 3.32 and a beta of 0.77.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.47). The company had revenue of $770.28 million during the quarter, compared to analysts’ expectations of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same period in the previous year, the company earned $2.83 EPS. Research analysts predict that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $7.12 annualized dividend and a yield of 3.7%. AvalonBay Communities’s payout ratio is 103.19%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AVB. Jefferies Financial Group upgraded shares of AvalonBay Communities to a “hold” rating in a report on Friday, June 26th. Barclays cut their target price on AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Morgan Stanley reissued an “equal weight” rating and set a $203.00 price target (down from $208.00) on shares of AvalonBay Communities in a research report on Thursday, March 26th. Scotiabank dropped their price target on AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating for the company in a research note on Thursday, May 14th. Finally, Royal Bank Of Canada lifted their price objective on AvalonBay Communities from $180.00 to $188.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $195.13.

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.