Alliancebernstein L.P. lessened its stake in shares of AvalonBay Communities Inc (NYSE:AVB) by 2.4% during the fourth quarter, Holdings Channel reports. The fund owned 322,950 shares of the real estate investment trust’s stock after selling 8,038 shares during the quarter. Alliancebernstein L.P.’s holdings in AvalonBay Communities were worth $57,618,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in AVB. Capital Analysts LLC boosted its holdings in shares of AvalonBay Communities by 441.3% during the 4th quarter. Capital Analysts LLC now owns 2,230 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 1,818 shares during the last quarter. Bartlett & Co. LLC boosted its holdings in shares of AvalonBay Communities by 112.8% during the 4th quarter. Bartlett & Co. LLC now owns 681 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 361 shares during the last quarter. Amica Retiree Medical Trust purchased a new stake in shares of AvalonBay Communities during the 3rd quarter valued at about $132,000. Keeler Thomas Management LLC purchased a new stake in shares of AvalonBay Communities during the 4th quarter valued at about $166,000. Finally, NuWave Investment Management LLC purchased a new stake in shares of AvalonBay Communities during the 4th quarter valued at about $181,000. 94.72% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on AVB shares. Mizuho set a $185.00 price target on shares of AvalonBay Communities and gave the company a “buy” rating in a report on Friday, February 9th. Robert W. Baird reaffirmed a “buy” rating and set a $187.00 price target 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 target on the stock. in a report on Friday, December 15th. Barclays dropped their price target on shares of AvalonBay Communities from $189.00 to $186.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 30th. Finally, SunTrust Banks set a $194.00 price objective on shares of AvalonBay Communities and gave the stock a “buy” rating in a report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. AvalonBay Communities currently has a consensus rating of “Hold” and an average price target of $191.75.
AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $1.03. AvalonBay Communities had a net margin of 40.62% and a return on equity of 8.57%. The company had revenue of $555.29 million for the quarter, compared to analysts’ expectations of $554.20 million. During the same quarter last year, the business earned $2.12 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. analysts expect that AvalonBay Communities Inc will post 8.97 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be paid a dividend of $1.47 per share. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.42. The ex-dividend date is Wednesday, March 28th. This represents a $5.88 dividend on an annualized basis and a yield of 3.64%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 89.73%.
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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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