State of Alaska Department of Revenue increased its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 12.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 86,724 shares of the real estate investment trust’s stock after buying an additional 9,425 shares during the period. State of Alaska Department of Revenue’s holdings in AvalonBay Communities were worth $15,469,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Amica Retiree Medical Trust bought a new stake in AvalonBay Communities in the 3rd quarter valued at about $132,000. WFG Advisors LP boosted its holdings in AvalonBay Communities by 24.9% in the 2nd quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 167 shares during the period. Cubist Systematic Strategies LLC bought a new stake in AvalonBay Communities in the 2nd quarter valued at about $226,000. Dynamic Technology Lab Private Ltd bought a new stake in AvalonBay Communities in the 3rd quarter valued at about $227,000. Finally, Lincoln National Corp bought a new stake in AvalonBay Communities in the 3rd quarter valued at about $239,000. 94.86% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on the stock. Robert W. Baird reissued a “buy” rating and issued a $187.00 price objective on shares of AvalonBay Communities in a report on Tuesday, January 9th. JPMorgan Chase & Co. downgraded shares of AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 price objective for the company. in a report on Friday, December 15th. BMO Capital Markets reissued a “hold” rating and issued a $190.00 price objective on shares of AvalonBay Communities in a report on Monday, November 27th. UBS Group raised shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $190.00 to $206.00 in a report on Thursday, November 9th. Finally, Royal Bank of Canada dropped their target price on shares of AvalonBay Communities from $206.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $200.40.
AvalonBay Communities, Inc. (NYSE:AVB) opened at $167.79 on Friday. The company has a market cap of $23,462.52, a P/E ratio of 26.22, a PEG ratio of 2.52 and a beta of 0.35. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.69. AvalonBay Communities, Inc. has a 12-month low of $167.09 and a 12-month high of $199.52.
AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, October 30th. The real estate investment trust reported $1.72 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.45). The firm had revenue of $550.50 million during the quarter, compared to analyst estimates of $539.69 million. AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. AvalonBay Communities’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.11 earnings per share. sell-side analysts predict that AvalonBay Communities, Inc. will post 8.62 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Thursday, December 28th. AvalonBay Communities’s dividend payout ratio is 88.75%.
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.
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