BlackRock Inc. Has $2.70 Billion Stake in AvalonBay Communities Inc (AVB)

BlackRock Inc. grew its stake in shares of AvalonBay Communities Inc (NYSE:AVB) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,114,729 shares of the real estate investment trust’s stock after purchasing an additional 187,850 shares during the period. BlackRock Inc. owned about 10.95% of AvalonBay Communities worth $2,696,619,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. WFG Advisors LP lifted its holdings in shares of AvalonBay Communities by 24.9% during the second quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 167 shares during the last quarter. Amalgamated Bank lifted its stake in AvalonBay Communities by 1.9% in the 3rd quarter. Amalgamated Bank now owns 15,805 shares of the real estate investment trust’s stock worth $2,820,000 after acquiring an additional 292 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in AvalonBay Communities by 6.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,186 shares of the real estate investment trust’s stock worth $929,000 after acquiring an additional 300 shares in the last quarter. DnB Asset Management AS lifted its stake in AvalonBay Communities by 2.1% in the 4th quarter. DnB Asset Management AS now owns 14,778 shares of the real estate investment trust’s stock worth $2,637,000 after acquiring an additional 300 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in AvalonBay Communities by 0.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,861 shares of the real estate investment trust’s stock worth $8,004,000 after acquiring an additional 311 shares in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Inc (NYSE:AVB) opened at $162.57 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.10 and a quick ratio of 0.10. AvalonBay Communities Inc has a 52-week low of $154.82 and a 52-week high of $199.52. The firm has a market capitalization of $22,250.00, a PE ratio of 25.60, a price-to-earnings-growth ratio of 2.46 and a beta of 0.34.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.22 by $1.03. AvalonBay Communities had a return on equity of 8.57% and a net margin of 40.62%. The company had revenue of $555.29 million for the quarter, compared to analyst estimates of $554.20 million. During the same period in the prior year, the firm posted $2.12 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. sell-side analysts anticipate that AvalonBay Communities Inc will post 9 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be given a $1.47 dividend. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.42. This represents a $5.88 annualized dividend and a yield of 3.62%. The ex-dividend date is Wednesday, March 28th. AvalonBay Communities’s dividend payout ratio is presently 89.45%.

Several brokerages recently issued reports on AVB. BMO Capital Markets set a $178.00 price objective on AvalonBay Communities and gave the stock a “hold” rating in a research note on Monday, February 12th. Mizuho set a $185.00 price objective on AvalonBay Communities and gave the stock a “buy” rating in a research note on Friday, February 9th. Zelman & Associates raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Zacks Investment Research downgraded AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. Finally, SunTrust Banks reissued a “buy” rating and issued a $186.00 price objective on shares of AvalonBay Communities in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company’s stock. AvalonBay Communities presently has an average rating of “Hold” and a consensus price target of $194.82.

In other AvalonBay Communities news, CEO Timothy J. Naughton sold 25,160 shares of the company’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total value of $4,625,414.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $181.89, for a total value of $363,780.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,660 shares of company stock worth $5,628,669. Insiders own 0.46% of the company’s stock.

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

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