Alps Advisors Inc. cut its holdings in AvalonBay Communities Inc (NYSE:AVB) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,801 shares of the real estate investment trust’s stock after selling 453 shares during the quarter. Alps Advisors Inc.’s holdings in AvalonBay Communities were worth $1,749,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Bartlett & Co. LLC grew its stake in AvalonBay Communities by 112.8% during the 4th quarter. Bartlett & Co. LLC now owns 681 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 361 shares in the last quarter. Amica Retiree Medical Trust purchased a new position in AvalonBay Communities during the 3rd quarter valued at about $132,000. WFG Advisors LP grew its stake in AvalonBay Communities by 24.9% during the 2nd quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock valued at $161,000 after acquiring an additional 167 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in AvalonBay Communities during the 2nd quarter valued at about $226,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in AvalonBay Communities during the 3rd quarter valued at about $227,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.
Shares of AvalonBay Communities Inc (NYSE AVB) opened at $162.57 on Friday. AvalonBay Communities Inc has a 1 year low of $154.82 and a 1 year high of $199.52. The firm has a market capitalization of $22,245.96, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 2.50 and a beta of 0.34. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.10 and a quick ratio of 0.10.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Wednesday, March 28th. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.42. AvalonBay Communities’s dividend payout ratio is presently 89.31%.
In other news, insider Leo S. Horey III sold 2,000 shares of the stock in a transaction 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 legal filing with the SEC, which is available at this hyperlink. Also, COO Sean J. Breslin sold 1,500 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $182.65, for a total value of $273,975.00. The disclosure for this sale can be found here. Insiders have sold 30,660 shares of company stock worth $5,628,669 in the last 90 days. Company insiders own 0.46% of the company’s stock.
Several brokerages have recently issued reports on AVB. UBS Group upgraded AvalonBay Communities from a “neutral” rating to a “buy” rating and lifted their price target for the company from $190.00 to $206.00 in a report on Thursday, November 9th. BMO Capital Markets set a $178.00 price target on AvalonBay Communities and gave the company a “hold” rating in a report on Monday, February 12th. Mizuho restated a “buy” rating and issued a $220.00 target price on shares of AvalonBay Communities in a report on Monday, November 6th. SunTrust Banks restated a “buy” rating and issued a $186.00 target price on shares of AvalonBay Communities in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. lowered AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 target price for the company. in a report on Friday, December 15th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company. AvalonBay Communities currently has a consensus rating of “Hold” and a consensus target price of $194.82.
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AvalonBay Communities 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.
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