AvalonBay Communities, Inc. (AVB) Position Lessened by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 123,000 shares of the real estate investment trust’s stock after selling 5,500 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.09% of AvalonBay Communities worth $21,945,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in AVB. Creative Planning boosted its stake in shares of AvalonBay Communities by 0.4% during the 2nd quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 2 shares during the last quarter. WFG Advisors LP boosted its position in shares of AvalonBay Communities by 24.9% in the second quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock worth $161,000 after acquiring an additional 167 shares during the last quarter. Eqis Capital Management Inc. acquired a new stake in shares of AvalonBay Communities in the second quarter worth approximately $201,000. Bbva Compass Bancshares Inc. acquired a new stake in shares of AvalonBay Communities in the second quarter worth approximately $206,000. Finally, West Oak Capital LLC boosted its position in shares of AvalonBay Communities by 5.7% in the second quarter. West Oak Capital LLC now owns 1,120 shares of the real estate investment trust’s stock worth $215,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 96.85% of the company’s stock.

Shares of AvalonBay Communities, Inc. (NYSE AVB) traded up $0.95 during trading on Tuesday, hitting $188.11. The company had a trading volume of 400,500 shares, compared to its average volume of 685,176. AvalonBay Communities, Inc. has a 52 week low of $158.32 and a 52 week high of $199.52. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.69. The company has a market cap of $25,844.53, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 2.94 and a beta of 0.36.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.45). The firm had revenue of $550.50 million for the quarter, compared to analyst estimates of $539.69 million. AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $2.11 earnings per share. analysts predict that AvalonBay Communities, Inc. will post 8.61 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Thursday, December 28th. AvalonBay Communities’s payout ratio is 88.75%.

AVB has been the subject of a number of research reports. Goldman Sachs Group, Inc. (The) downgraded shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 price objective for the company. in a report on Tuesday, September 5th. Stifel Nicolaus reaffirmed a “buy” rating and set a $209.00 target price on shares of AvalonBay Communities in a research report on Friday, September 1st. Evercore ISI upgraded AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 target price on the stock in a report on Monday, September 25th. BidaskClub downgraded AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Barclays PLC upped their price target on AvalonBay Communities from $188.00 to $189.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $199.27.

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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.

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

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