AvalonBay Communities, Inc. (NYSE:AVB) Shares Bought by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. increased its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 10.4% during the second quarter, Holdings Channel reports. The firm owned 1,152,182 shares of the real estate investment trust’s stock after buying an additional 108,660 shares during the period. Schwab Charles Investment Management Inc.’s holdings in AvalonBay Communities were worth $221,415,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Creative Planning raised its stake in AvalonBay Communities by 0.4% in the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 2 shares in the last quarter. Muzinich & Co. Inc. raised its position in shares of AvalonBay Communities by 104.0% in the first quarter. Muzinich & Co. Inc. now owns 665 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 339 shares during the period. Perigon Wealth Management LLC raised its position in shares of AvalonBay Communities by 546.9% in the first quarter. Perigon Wealth Management LLC now owns 1,035 shares of the real estate investment trust’s stock valued at $191,000 after buying an additional 875 shares during the period. Eqis Capital Management Inc. purchased a new position in shares of AvalonBay Communities during the second quarter valued at about $201,000. Finally, Bbva Compass Bancshares Inc. purchased a new position in shares of AvalonBay Communities during the second quarter valued at about $206,000. Hedge funds and other institutional investors own 98.59% of the company’s stock.

AvalonBay Communities, Inc. (NYSE:AVB) opened at 189.27 on Thursday. The firm has a market capitalization of $26.01 billion, a PE ratio of 25.22 and a beta of 0.34. AvalonBay Communities, Inc. has a one year low of $158.32 and a one year high of $199.52. The stock’s 50 day moving average is $190.44 and its 200-day moving average is $186.97.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $2.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.14 by $0.05. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. The firm had revenue of $530.51 million for the quarter, compared to analysts’ expectations of $529.48 million. During the same period last year, the company posted $2.03 earnings per share. On average, analysts anticipate that AvalonBay Communities, Inc. will post $5.19 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Wednesday, June 28th. AvalonBay Communities’s payout ratio is presently 78.13%.

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AVB has been the subject of a number of research analyst reports. BidaskClub lowered shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Barclays PLC boosted their price target on shares of AvalonBay Communities from $188.00 to $189.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 18th. JMP Securities cut shares of AvalonBay Communities from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 19th. They noted that the move was a valuation call. Jefferies Group LLC reissued a “hold” rating and set a $196.00 price target on shares of AvalonBay Communities in a research report on Tuesday, July 4th. Finally, BMO Capital Markets reissued a “hold” rating and set a $191.00 price target on shares of AvalonBay Communities in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $193.58.

In other news, insider William M. Mclaughlin sold 5,112 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $193.88, for a total transaction of $991,114.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Edward M. Schulman sold 1,764 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $191.82, for a total transaction of $338,370.48. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused 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.

Want to see what other hedge funds are holding AVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AvalonBay Communities, Inc. (NYSE:AVB).

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

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