MAI Capital Management Raises Holdings in AvalonBay Communities, Inc. $AVB

MAI Capital Management increased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 1.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 27,571 shares of the real estate investment trust’s stock after purchasing an additional 462 shares during the period. MAI Capital Management’s holdings in AvalonBay Communities were worth $5,611,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Metis Global Partners LLC increased its stake in shares of AvalonBay Communities by 13.8% in the second quarter. Metis Global Partners LLC now owns 36,980 shares of the real estate investment trust’s stock worth $7,525,000 after purchasing an additional 4,473 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in AvalonBay Communities by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 344,505 shares of the real estate investment trust’s stock worth $73,938,000 after buying an additional 28,608 shares during the period. Jump Financial LLC purchased a new position in AvalonBay Communities in the 1st quarter valued at approximately $526,000. Sumitomo Mitsui Trust Group Inc. grew its stake in AvalonBay Communities by 1.5% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 723,402 shares of the real estate investment trust’s stock valued at $147,212,000 after buying an additional 10,929 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of AvalonBay Communities by 2.9% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 49,878 shares of the real estate investment trust’s stock worth $10,150,000 after acquiring an additional 1,402 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group reduced their price target on AvalonBay Communities from $216.00 to $192.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Royal Bank Of Canada cut their target price on AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. Scotiabank reduced their target price on AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. Barclays upped their price target on AvalonBay Communities from $228.00 to $229.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 30th. Finally, Morgan Stanley cut their price objective on shares of AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating for the company in a research report on Thursday, November 13th. Five analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $209.35.

AvalonBay Communities Stock Performance

Shares of AVB opened at $180.40 on Friday. AvalonBay Communities, Inc. has a 12-month low of $166.73 and a 12-month high of $239.29. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.71. The company has a market cap of $25.54 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 2.54 and a beta of 0.84. The stock has a 50-day moving average price of $184.96 and a 200-day moving average price of $194.35.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.81 by ($0.06). AvalonBay Communities had a return on equity of 9.75% and a net margin of 38.78%.The company had revenue of $766.80 million during the quarter, compared to the consensus estimate of $766.22 million. During the same quarter last year, the company posted $2.74 earnings per share. As a group, equities analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, December 31st. AvalonBay Communities’s payout ratio is currently 85.47%.

About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.