Arizona State Retirement System raised its holdings in AvalonBay Communities Inc (NYSE:AVB) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,437 shares of the real estate investment trust’s stock after buying an additional 2,494 shares during the period. Arizona State Retirement System’s holdings in AvalonBay Communities were worth $8,998,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Candriam Luxembourg S.C.A. boosted its holdings in AvalonBay Communities by 6.6% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 11,496 shares of the real estate investment trust’s stock valued at $2,051,000 after purchasing an additional 716 shares during the period. Magnetar Financial LLC bought a new stake in AvalonBay Communities in the 3rd quarter valued at about $772,000. Duff & Phelps Investment Management Co. lifted its holdings in shares of AvalonBay Communities by 16.2% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 545,586 shares of the real estate investment trust’s stock worth $97,338,000 after acquiring an additional 76,040 shares during the period. Prudential Financial Inc. lifted its holdings in shares of AvalonBay Communities by 76.6% during the 3rd quarter. Prudential Financial Inc. now owns 337,923 shares of the real estate investment trust’s stock worth $60,292,000 after acquiring an additional 146,610 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of AvalonBay Communities by 91.2% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 2,250 shares of the real estate investment trust’s stock worth $401,000 after acquiring an additional 1,073 shares during the period. Hedge funds and other institutional investors own 94.72% of the company’s stock.
AVB has been the subject of a number of recent analyst reports. Mizuho set a $185.00 price target on shares of AvalonBay Communities and gave the stock a “buy” rating in a report on Friday, February 9th. SunTrust Banks set a $194.00 price target on shares of AvalonBay Communities and gave the company a “buy” rating in a research report on Monday, January 22nd. Stifel Nicolaus restated a “buy” rating and issued a $185.00 price target on shares of AvalonBay Communities in a research report on Friday, January 19th. Robert W. Baird reaffirmed a “buy” rating and issued a $187.00 price objective on shares of AvalonBay Communities in a research note on Tuesday, January 9th. Finally, Argus reduced their price objective on shares of AvalonBay Communities from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $191.75.
AvalonBay Communities Inc (NYSE AVB) traded up $1.95 during mid-day trading on Wednesday, hitting $163.47. 798,380 shares of the stock were exchanged, compared to its average volume of 1,040,000. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.19 and a quick ratio of 0.19. AvalonBay Communities Inc has a one year low of $152.65 and a one year high of $199.52. The company has a market capitalization of $22,570.00, a price-to-earnings ratio of 25.82, a P/E/G ratio of 2.51 and a beta of 0.42.
AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $1.03. The business had revenue of $555.29 million during the quarter, compared to analyst estimates of $554.20 million. AvalonBay Communities had a net margin of 40.62% and a return on equity of 8.57%. AvalonBay Communities’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.12 earnings per share. analysts anticipate that AvalonBay Communities Inc will post 8.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be paid a dividend of $1.47 per share. The ex-dividend date is Wednesday, March 28th. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.42. This represents a $5.88 annualized dividend and a dividend yield of 3.60%. AvalonBay Communities’s dividend payout ratio (DPR) is 89.73%.
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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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