O Shares Investment Advisers LLC Grows Stock Holdings in AvalonBay Communities Inc (NYSE:AVB)

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O Shares Investment Advisers LLC boosted its holdings in shares of AvalonBay Communities Inc (NYSE:AVB) by 6.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,865 shares of the real estate investment trust’s stock after purchasing an additional 816 shares during the quarter. O Shares Investment Advisers LLC’s holdings in AvalonBay Communities were worth $2,817,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. West Oak Capital LLC raised its holdings in shares of AvalonBay Communities by 5.6% in the 2nd quarter. West Oak Capital LLC now owns 945 shares of the real estate investment trust’s stock worth $192,000 after purchasing an additional 50 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in AvalonBay Communities by 2.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 1,920 shares of the real estate investment trust’s stock valued at $390,000 after acquiring an additional 50 shares during the period. 6 Meridian increased its stake in AvalonBay Communities by 2.0% during the second quarter. 6 Meridian now owns 2,651 shares of the real estate investment trust’s stock valued at $539,000 after acquiring an additional 51 shares during the period. Cornerstone Advisors Inc. increased its stake in AvalonBay Communities by 85.5% during the first quarter. Cornerstone Advisors Inc. now owns 128 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 59 shares during the period. Finally, NEXT Financial Group Inc increased its stake in AvalonBay Communities by 16.7% during the second quarter. NEXT Financial Group Inc now owns 426 shares of the real estate investment trust’s stock valued at $87,000 after acquiring an additional 61 shares during the period. 92.42% of the stock is currently owned by institutional investors.

Several research firms have recently weighed in on AVB. ValuEngine lowered AvalonBay Communities from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup upped their price objective on AvalonBay Communities from $205.00 to $210.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Morgan Stanley upped their price objective on AvalonBay Communities from $217.00 to $229.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Zelman & Associates upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Finally, Barclays lowered their price objective on AvalonBay Communities from $228.00 to $226.00 and set an “equal weight” rating on the stock in a research note on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $212.87.

Shares of AVB traded down $2.42 on Friday, hitting $207.11. The company’s stock had a trading volume of 702,549 shares, compared to its average volume of 534,717. The company has a market capitalization of $29.26 billion, a PE ratio of 23.01, a PEG ratio of 3.86 and a beta of 0.52. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 1.08. AvalonBay Communities Inc has a fifty-two week low of $167.01 and a fifty-two week high of $216.80. The company has a 50 day moving average price of $208.43 and a 200 day moving average price of $203.95.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.21 EPS for the quarter, missing the consensus estimate of $2.31 by ($1.10). The business had revenue of $577.26 million during the quarter, compared to analyst estimates of $572.69 million. AvalonBay Communities had a return on equity of 8.63% and a net margin of 41.83%. During the same period in the previous year, the firm earned $2.23 earnings per share. On average, equities analysts forecast that AvalonBay Communities Inc will post 9.32 EPS for the current year.

In other news, insider Leo S. Horey III sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $214.00, for a total value of $428,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Edward M. Schulman sold 1,301 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $213.47, for a total value of $277,724.47. The disclosure for this sale can be found here. Insiders sold a total of 5,801 shares of company stock worth $1,243,499 over the last three months. 0.42% of the stock is owned by company insiders.

About AvalonBay Communities

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine 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.

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

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