KBC Group NV reduced its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 50.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,510 shares of the real estate investment trust’s stock after selling 55,235 shares during the period. KBC Group NV’s holdings in AvalonBay Communities were worth $10,475,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its stake in shares of AvalonBay Communities by 129.0% in the first quarter. Canada Pension Plan Investment Board now owns 157,047 shares of the real estate investment trust’s stock valued at $28,834,000 after buying an additional 88,475 shares during the last quarter. Whittier Trust Co. increased its stake in shares of AvalonBay Communities by 2.8% in the first quarter. Whittier Trust Co. now owns 1,144 shares of the real estate investment trust’s stock valued at $210,000 after buying an additional 31 shares during the last quarter. IBM Retirement Fund increased its stake in shares of AvalonBay Communities by 120.1% in the second quarter. IBM Retirement Fund now owns 3,374 shares of the real estate investment trust’s stock valued at $724,000 after buying an additional 1,841 shares during the last quarter. Norinchukin Bank The increased its stake in shares of AvalonBay Communities by 7.1% in the first quarter. Norinchukin Bank The now owns 8,924 shares of the real estate investment trust’s stock valued at $1,638,000 after buying an additional 593 shares during the last quarter. Finally, State Treasurer State of Michigan increased its stake in shares of AvalonBay Communities by 0.4% in the second quarter. State Treasurer State of Michigan now owns 45,323 shares of the real estate investment trust’s stock valued at $8,710,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 97.89% of the company’s stock.

AvalonBay Communities, Inc. (NYSE:AVB) opened at 188.99 on Monday. AvalonBay Communities, Inc. has a one year low of $158.32 and a one year high of $199.52. The company has a market capitalization of $26.03 billion, a PE ratio of 26.03 and a beta of 0.34. The firm’s 50 day moving average price is $189.80 and its 200-day moving average price is $187.68.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share for the quarter, missing the consensus estimate of $2.14 by $0.05. The business had revenue of $530.51 million during the quarter, compared to analyst estimates of $529.48 million. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. During the same period last year, the business earned $2.03 earnings per share. Equities analysts forecast that AvalonBay Communities, Inc. will post $5.26 earnings per share for the current fiscal year.

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A number of research firms have weighed in on AVB. BidaskClub downgraded shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Barclays PLC lifted 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 note on Tuesday, July 18th. Deutsche Bank AG lifted their price target on shares of AvalonBay Communities from $193.00 to $195.00 and gave the stock a “hold” rating in a research note on Friday. Jefferies Group LLC reiterated a “hold” rating and set a $196.00 price target on shares of AvalonBay Communities in a research note on Tuesday, July 4th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $191.00 price target on shares of AvalonBay Communities in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. AvalonBay Communities currently has an average rating of “Hold” and a consensus target price of $193.75.

In related news, insider William M. Mclaughlin sold 5,112 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $193.88, for a total value of $991,114.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

About AvalonBay Communities

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

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