Retirement Systems of Alabama increased its position in shares of AvalonBay Communities Inc (NYSE:AVB) by 1.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,496 shares of the real estate investment trust’s stock after purchasing an additional 756 shares during the period. Retirement Systems of Alabama’s holdings in AvalonBay Communities were worth $12,946,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVB. Norges Bank purchased a new position in AvalonBay Communities during the fourth quarter worth about $225,932,000. BlackRock Inc. raised its holdings in AvalonBay Communities by 2.5% during the fourth quarter. BlackRock Inc. now owns 15,700,948 shares of the real estate investment trust’s stock worth $2,732,748,000 after purchasing an additional 385,430 shares in the last quarter. Teachers Advisors LLC raised its holdings in AvalonBay Communities by 57.2% during the third quarter. Teachers Advisors LLC now owns 953,409 shares of the real estate investment trust’s stock worth $172,710,000 after purchasing an additional 346,861 shares in the last quarter. Deutsche Bank AG raised its holdings in AvalonBay Communities by 119.8% during the fourth quarter. Deutsche Bank AG now owns 589,395 shares of the real estate investment trust’s stock worth $102,575,000 after purchasing an additional 321,291 shares in the last quarter. Finally, Scout Investments Inc. purchased a new position in AvalonBay Communities during the fourth quarter worth about $50,433,000. 93.07% of the stock is owned by hedge funds and other institutional investors.

Shares of AvalonBay Communities stock opened at $196.15 on Friday. AvalonBay Communities Inc has a 12-month low of $156.93 and a 12-month high of $204.53. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market capitalization of $27.20 billion, a price-to-earnings ratio of 21.79, a P/E/G ratio of 3.87 and a beta of 0.61.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, February 4th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.32 by ($0.01). AvalonBay Communities had a net margin of 42.66% and a return on equity of 9.33%. The company had revenue of $578.52 million during the quarter, compared to analysts’ expectations of $576.56 million. During the same period last year, the business posted $1.72 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts predict that AvalonBay Communities Inc will post 9.32 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a dividend of $1.52 per share. This represents a $6.08 dividend on an annualized basis and a dividend yield of 3.10%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.47. The ex-dividend date was Thursday, March 28th. AvalonBay Communities’s dividend payout ratio (DPR) is 67.56%.

In other news, CEO Timothy J. Naughton sold 67,789 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $196.41, for a total transaction of $13,314,437.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin P. O’shea sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $196.23, for a total transaction of $981,150.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,837 shares of company stock valued at $18,248,863. Corporate insiders own 0.42% of the company’s stock.

Several research analysts recently issued reports on AVB shares. ValuEngine cut shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a report on Monday, January 7th. Zacks Investment Research raised shares of AvalonBay Communities from a “hold” rating to a “buy” rating and set a $200.00 price target for the company in a report on Tuesday, January 15th. SunTrust Banks increased their target price on shares of AvalonBay Communities to $208.00 and gave the company an “average” rating in a report on Thursday, February 14th. Citigroup cut shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and increased their target price for the company from $190.00 to $205.00 in a report on Thursday, February 21st. They noted that the move was a valuation call. Finally, KeyCorp increased their target price on shares of AvalonBay Communities from $199.00 to $207.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. AvalonBay Communities has an average rating of “Hold” and an average target price of $200.75.

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AvalonBay Communities Profile

As of December 31, 2018, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,158 apartment homes in 12 states and the District of Columbia, of which 21 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

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

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