Westwood Holdings Group Inc. Has $1.74 Million Stake in AvalonBay Communities, Inc. (AVB)
Westwood Holdings Group Inc. lowered its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 13.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,056 shares of the real estate investment trust’s stock after selling 1,395 shares during the quarter. Westwood Holdings Group Inc.’s holdings in AvalonBay Communities were worth $1,740,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of AVB. Stifel Financial Corp lifted its stake in shares of AvalonBay Communities by 4.6% in the 1st quarter. Stifel Financial Corp now owns 6,185 shares of the real estate investment trust’s stock valued at $1,135,000 after purchasing an additional 270 shares during the period. Kennedy Capital Management Inc. lifted its stake in shares of AvalonBay Communities by 85.4% in the 1st quarter. Kennedy Capital Management Inc. now owns 24,234 shares of the real estate investment trust’s stock valued at $4,449,000 after purchasing an additional 11,166 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of AvalonBay Communities in the 1st quarter valued at $2,640,000. Gotham Asset Management LLC acquired a new position in shares of AvalonBay Communities in the 1st quarter valued at $1,275,000. Finally, AQR Capital Management LLC lifted its stake in shares of AvalonBay Communities by 2.2% in the 1st quarter. AQR Capital Management LLC now owns 215,876 shares of the real estate investment trust’s stock valued at $39,635,000 after purchasing an additional 4,563 shares during the period. 97.50% of the stock is currently owned by institutional investors.
Shares of AvalonBay Communities, Inc. (NYSE:AVB) traded down 0.39% during trading on Monday, hitting $179.89. The stock had a trading volume of 47,065 shares. The company has a market capitalization of $24.77 billion, a P/E ratio of 24.77 and a beta of 0.36. AvalonBay Communities, Inc. has a 1-year low of $158.32 and a 1-year high of $199.52. The firm has a 50-day moving average of $182.32 and a 200 day moving average of $188.47.
AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.05). The business had revenue of $530.51 million for the quarter, compared to the consensus estimate of $529.48 million. AvalonBay Communities had a return on equity of 9.88% and a net margin of 47.90%. During the same period in the previous year, the firm earned $2.03 earnings per share. Equities research analysts predict that AvalonBay Communities, Inc. will post $5.19 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Thursday, September 28th. AvalonBay Communities’s payout ratio is presently 78.13%.
A number of research analysts have recently weighed in on AVB shares. Stifel Nicolaus reissued a “buy” rating and issued a $209.00 price target on shares of AvalonBay Communities in a research note on Wednesday, October 4th. Robert W. Baird reissued a “buy” rating and issued a $202.00 price target on shares of AvalonBay Communities in a research note on Friday, September 1st. BidaskClub downgraded AvalonBay Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) cut shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 price objective for the company. in a research report on Tuesday, September 5th. Finally, Barclays PLC upped their price objective on shares of AvalonBay Communities from $188.00 to $189.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $196.00.
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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