Cohen & Steers Inc. cut its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 45.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,783,913 shares of the real estate investment trust’s stock after selling 3,098,958 shares during the period. AvalonBay Communities comprises approximately 1.8% of Cohen & Steers Inc.’s investment portfolio, making the stock its 15th largest holding. Cohen & Steers Inc. owned 2.74% of AvalonBay Communities worth $675,126,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of AVB. Creative Planning lifted its stake in AvalonBay Communities by 0.4% during the 2nd quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 2 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in AvalonBay Communities by 3.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 3,882 shares of the real estate investment trust’s stock valued at $746,000 after acquiring an additional 131 shares in the last quarter. Bbva Compass Bancshares Inc. bought a new position in AvalonBay Communities during the 2nd quarter valued at $206,000. Candriam Luxembourg S.C.A. lifted its stake in AvalonBay Communities by 21.1% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 10,780 shares of the real estate investment trust’s stock valued at $2,072,000 after acquiring an additional 1,877 shares in the last quarter. Finally, BP PLC bought a new position in AvalonBay Communities during the 2nd quarter valued at $3,075,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

In related news, insider Leo S. Horey III sold 2,000 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $181.89, for a total value of $363,780.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.46% of the company’s stock.

Several equities analysts have weighed in on AVB shares. Deutsche Bank raised their price objective on AvalonBay Communities from $193.00 to $195.00 and gave the company a “hold” rating in a research note on Friday, August 18th. Stifel Nicolaus restated a “buy” rating and set a $209.00 price objective on shares of AvalonBay Communities in a research note on Friday, September 1st. Robert W. Baird restated a “buy” rating and set a $202.00 price objective on shares of AvalonBay Communities in a research note on Friday, September 1st. Goldman Sachs Group cut AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 price objective on the stock. in a research note on Tuesday, September 5th. Finally, KeyCorp reiterated a “hold” rating on shares of AvalonBay Communities in a research note on Sunday, September 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $200.71.

Shares of AvalonBay Communities, Inc. (NYSE:AVB) opened at $179.96 on Friday. The company has a market capitalization of $24,770.21, a price-to-earnings ratio of 21.13, a PEG ratio of 2.82 and a beta of 0.35. AvalonBay Communities, Inc. has a 52 week low of $165.41 and a 52 week 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.

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 the Zacks’ consensus estimate of $2.17 by ($0.45). The business had revenue of $550.50 million for the quarter, compared to the consensus estimate of $539.69 million. AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.11 earnings per share. research analysts predict that AvalonBay Communities, Inc. will post 8.62 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Thursday, December 28th. AvalonBay Communities’s payout ratio is 88.75%.

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

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