Dimensional Fund Advisors LP raised its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,951,873 shares of the real estate investment trust’s stock after purchasing an additional 38,163 shares during the quarter. Dimensional Fund Advisors LP owned 1.41% of AvalonBay Communities worth $348,254,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of AVB. FMR LLC grew its stake in AvalonBay Communities by 22.2% during the 2nd quarter. FMR LLC now owns 5,341,390 shares of the real estate investment trust’s stock valued at $1,026,454,000 after purchasing an additional 969,095 shares during the last quarter. Koch Industries Inc. purchased a new stake in AvalonBay Communities during the 2nd quarter valued at about $365,000. Old Mutual Global Investors UK Ltd. grew its stake in AvalonBay Communities by 185.9% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 504,090 shares of the real estate investment trust’s stock valued at $89,939,000 after purchasing an additional 327,763 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in AvalonBay Communities by 316.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 407,714 shares of the real estate investment trust’s stock valued at $72,744,000 after purchasing an additional 309,867 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in AvalonBay Communities by 9.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,184,930 shares of the real estate investment trust’s stock valued at $568,255,000 after purchasing an additional 276,035 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.
AVB has been the topic of several research analyst reports. Deutsche Bank boosted their price target 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 reiterated a “buy” rating and set a $209.00 price target on shares of AvalonBay Communities in a research note on Friday, September 1st. Robert W. Baird restated a “buy” rating and issued a $202.00 target price on shares of AvalonBay Communities in a research note on Friday, September 1st. Goldman Sachs Group downgraded AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 target price on the stock. in a research note on Tuesday, September 5th. Finally, KeyCorp restated a “hold” rating on shares of AvalonBay Communities in a research note on Sunday, September 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $200.71.
AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, October 30th. The real estate investment trust reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.45). The company had revenue of $550.50 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $2.11 EPS. research analysts expect that AvalonBay Communities, Inc. will post 8.62 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, December 28th. This represents a $5.68 dividend on an annualized basis and a yield of 3.12%. AvalonBay Communities’s dividend payout ratio is currently 88.75%.
In other AvalonBay Communities news, insider Leo S. Horey III sold 2,000 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $181.89, for a total transaction of $363,780.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.
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.
Receive News & Ratings for AvalonBay Communities Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities Inc. and related companies with MarketBeat.com's FREE daily email newsletter.