AvalonBay Communities Inc (AVB) Shares Sold by Presima Inc.

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Presima Inc. lessened its position in AvalonBay Communities Inc (NYSE:AVB) by 11.1% during the third quarter, HoldingsChannel.com reports. The fund owned 482,600 shares of the real estate investment trust’s stock after selling 60,400 shares during the quarter. AvalonBay Communities comprises approximately 11.2% of Presima Inc.’s investment portfolio, making the stock its 2nd largest position. Presima Inc.’s holdings in AvalonBay Communities were worth $87,423,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AVB. Nissay Asset Management Corp Japan ADV increased its stake in AvalonBay Communities by 5.5% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 20,009 shares of the real estate investment trust’s stock valued at $3,625,000 after buying an additional 1,040 shares during the period. Checchi Capital Advisers LLC acquired a new position in AvalonBay Communities during the 3rd quarter valued at about $209,000. NN Investment Partners Holdings N.V. increased its stake in AvalonBay Communities by 13.3% during the 3rd quarter. NN Investment Partners Holdings N.V. now owns 29,460 shares of the real estate investment trust’s stock valued at $5,336,000 after buying an additional 3,455 shares during the period. HGK Asset Management Inc. increased its stake in AvalonBay Communities by 12.2% during the 3rd quarter. HGK Asset Management Inc. now owns 57,016 shares of the real estate investment trust’s stock valued at $10,328,000 after buying an additional 6,187 shares during the period. Finally, Barings LLC increased its stake in AvalonBay Communities by 10,824.0% during the 3rd quarter. Barings LLC now owns 309,040 shares of the real estate investment trust’s stock valued at $55,983,000 after buying an additional 306,211 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:AVB traded up $1.30 during trading hours on Tuesday, hitting $179.44. 35,770 shares of the company’s stock traded hands, compared to its average volume of 511,191. AvalonBay Communities Inc has a 52 week low of $152.65 and a 52 week high of $188.91. The firm has a market cap of $24.17 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 2.59 and a beta of 0.33. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.73.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Monday, October 29th. The real estate investment trust reported $1.39 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.87). AvalonBay Communities had a return on equity of 8.42% and a net margin of 39.01%. The firm had revenue of $575.98 million during the quarter, compared to analyst estimates of $573.87 million. During the same quarter in the previous year, the business earned $1.72 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, research analysts forecast that AvalonBay Communities Inc will post 8.99 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Thursday, September 27th. AvalonBay Communities’s payout ratio is 68.21%.

Several equities analysts have commented on AVB shares. Zelman & Associates cut shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. Mizuho restated a “buy” rating and set a $212.00 price objective on shares of AvalonBay Communities in a research report on Monday, August 6th. Robert W. Baird lowered shares of AvalonBay Communities from an “outperform” rating to a “neutral” rating and set a $197.00 price objective for the company. in a research report on Wednesday, August 15th. Deutsche Bank raised their price objective on shares of AvalonBay Communities from $186.00 to $192.00 and gave the company a “hold” rating in a research report on Wednesday, September 5th. Finally, Argus raised their price objective on shares of AvalonBay Communities to $196.00 and gave the company a “buy” rating in a research report on Wednesday, August 15th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $192.50.

In other news, COO Sean J. Breslin sold 7,200 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $182.20, for a total value of $1,311,840.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin P. O’shea sold 2,000 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $179.85, for a total transaction of $359,700.00. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

AvalonBay Communities Company Profile

As of June 30, 2018, the Company owned or held a direct or indirect ownership interest in 287 apartment communities containing 84,043 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 16 communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

Further Reading: Insider Trading

Want to see what other hedge funds are holding AVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AvalonBay Communities Inc (NYSE:AVB).

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

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