AvalonBay Communities, Inc. (AVB) Stake Lessened by Asset Management One Co. Ltd.
Asset Management One Co. Ltd. decreased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 543,381 shares of the real estate investment trust’s stock after selling 2,041 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.39% of AvalonBay Communities worth $97,000,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of AvalonBay Communities by 6.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,186 shares of the real estate investment trust’s stock worth $929,000 after acquiring an additional 300 shares in the last quarter. Stifel Financial Corp grew its stake in shares of AvalonBay Communities by 8.5% in the 3rd quarter. Stifel Financial Corp now owns 11,794 shares of the real estate investment trust’s stock worth $2,106,000 after acquiring an additional 919 shares in the last quarter. Pinebridge Investments L.P. bought a new stake in shares of AvalonBay Communities in the 3rd quarter worth $671,000. FDO Partners LLC bought a new stake in shares of AvalonBay Communities in the 3rd quarter worth $431,000. Finally, Sarasin & Partners LLP grew its stake in shares of AvalonBay Communities by 5.3% in the 3rd quarter. Sarasin & Partners LLP now owns 84,867 shares of the real estate investment trust’s stock worth $15,142,000 after acquiring an additional 4,287 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.
A number of brokerages recently weighed in on AVB. BMO Capital Markets reissued a “hold” rating and issued a $190.00 price target on shares of AvalonBay Communities in a report on Monday, November 27th. UBS raised shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $190.00 to $206.00 in a report on Thursday, November 9th. Royal Bank Of Canada cut their price target on shares of AvalonBay Communities from $206.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, November 6th. Mizuho reissued a “buy” rating and issued a $220.00 price target on shares of AvalonBay Communities in a report on Monday, November 6th. Finally, Stifel Nicolaus cut their price target on shares of AvalonBay Communities from $209.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. AvalonBay Communities currently has a consensus rating of “Hold” and an average target price of $199.20.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.17 by ($0.45). The business had revenue of $550.50 million for the quarter, compared to analysts’ expectations of $539.69 million. AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. AvalonBay Communities’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $2.11 earnings per share. equities research analysts anticipate that AvalonBay Communities, Inc. will post 8.62 EPS for the current year.
The firm 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 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, December 28th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 88.75%.
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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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