Capital Analysts LLC boosted its holdings in shares of AvalonBay Communities Inc (NYSE:AVB) by 441.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,230 shares of the real estate investment trust’s stock after purchasing an additional 1,818 shares during the quarter. Capital Analysts LLC’s holdings in AvalonBay Communities were worth $116,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of AVB. Bartlett & Co. LLC boosted its position in AvalonBay Communities by 112.8% during the fourth quarter. Bartlett & Co. LLC now owns 681 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 361 shares in the last quarter. Amica Retiree Medical Trust purchased a new position in AvalonBay Communities during the third quarter worth approximately $132,000. Keeler Thomas Management LLC purchased a new position in AvalonBay Communities during the fourth quarter worth approximately $166,000. NuWave Investment Management LLC purchased a new position in AvalonBay Communities during the fourth quarter worth approximately $181,000. Finally, MUFG Americas Holdings Corp purchased a new position in AvalonBay Communities during the fourth quarter worth approximately $189,000. Institutional investors own 95.84% of the company’s stock.
In related news, insider Leo S. Horey III sold 2,000 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $181.89, for a total value of $363,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy J. Naughton sold 25,160 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $183.84, for a total value of $4,625,414.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,660 shares of company stock valued at $5,628,669. Insiders own 0.46% of the company’s stock.
AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $1.03. AvalonBay Communities had a return on equity of 8.57% and a net margin of 40.62%. The business had revenue of $555.29 million during the quarter, compared to analysts’ expectations of $554.20 million. During the same quarter in the prior year, the firm earned $2.12 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. equities research analysts expect that AvalonBay Communities Inc will post 9 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Wednesday, March 28th. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.42. AvalonBay Communities’s dividend payout ratio (DPR) is currently 89.73%.
AVB has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered their price target on AvalonBay Communities from $206.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, November 6th. Mizuho reiterated a “buy” rating and set a $220.00 price target on shares of AvalonBay Communities in a research report on Monday, November 6th. Stifel Nicolaus lowered their price target on AvalonBay Communities from $209.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, November 1st. UBS Group upgraded AvalonBay Communities from a “neutral” rating to a “buy” rating and increased their price target for the stock from $190.00 to $206.00 in a research report on Thursday, November 9th. Finally, Robert W. Baird reiterated a “buy” rating and set a $187.00 price target on shares of AvalonBay Communities in a research report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. AvalonBay Communities presently has a consensus rating of “Hold” and a consensus target price of $194.82.
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AvalonBay Communities 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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