AvalonBay Communities, Inc. (AVB) Shares Bought by CIBC Asset Management Inc
CIBC Asset Management Inc increased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,170 shares of the real estate investment trust’s stock after purchasing an additional 382 shares during the quarter. CIBC Asset Management Inc’s holdings in AvalonBay Communities were worth $2,885,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in AVB. Creative Planning boosted its position in shares of AvalonBay Communities by 0.4% during the 2nd quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock worth $104,000 after acquiring an additional 2 shares in the last quarter. Conning Inc. increased its position in shares of AvalonBay Communities by 0.4% during the second quarter. Conning Inc. now owns 4,289 shares of the real estate investment trust’s stock worth $824,000 after buying an additional 19 shares during the period. Miles Capital Inc. increased its position in shares of AvalonBay Communities by 2.8% during the second quarter. Miles Capital Inc. now owns 1,402 shares of the real estate investment trust’s stock worth $269,000 after buying an additional 38 shares during the period. Savant Capital LLC increased its position in shares of AvalonBay Communities by 4.6% during the second quarter. Savant Capital LLC now owns 1,140 shares of the real estate investment trust’s stock worth $219,000 after buying an additional 50 shares during the period. Finally, Blair William & Co. IL increased its position in shares of AvalonBay Communities by 0.7% during the second quarter. Blair William & Co. IL now owns 7,221 shares of the real estate investment trust’s stock worth $1,388,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 96.85% of the company’s stock.
Shares of AvalonBay Communities, Inc. (NYSE:AVB) opened at $186.09 on Friday. AvalonBay Communities, Inc. has a 1-year low of $158.32 and a 1-year high of $199.52. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.10 and a current ratio of 0.10. The stock has a market cap of $25,700.00, a PE ratio of 21.75, a PEG ratio of 2.90 and a beta of 0.36.
AvalonBay Communities (NYSE:AVB) last released its earnings results on Monday, October 30th. The real estate investment trust reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.45). AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The firm had revenue of $550.50 million for the quarter, compared to the consensus estimate of $539.69 million. During the same quarter in the previous year, the business posted $2.11 EPS. AvalonBay Communities’s revenue was up 6.6% on a year-over-year basis. sell-side analysts forecast that AvalonBay Communities, Inc. will post 8.61 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Thursday, December 28th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 89.03%.
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A number of equities research analysts have commented on the stock. BidaskClub upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. BMO Capital Markets reissued a “hold” rating and set a $191.00 price target on shares of AvalonBay Communities in a research report on Wednesday, August 2nd. Deutsche Bank AG raised their price target on shares of AvalonBay Communities from $193.00 to $195.00 and gave the company a “hold” rating in a research report on Friday, August 18th. The Goldman Sachs Group, Inc. lowered shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 price target on the stock. in a research report on Tuesday, September 5th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $202.00 price objective on shares of AvalonBay Communities in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. AvalonBay Communities currently has a consensus rating of “Hold” and an average price target of $199.27.
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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