AvalonBay Communities Inc (NYSE:AVB) Shares Acquired by CX Institutional

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CX Institutional increased its stake in AvalonBay Communities Inc (NYSE:AVB) by 85.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 115 shares of the real estate investment trust’s stock after acquiring an additional 53 shares during the quarter. CX Institutional’s holdings in AvalonBay Communities were worth $25,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AVB. First Trust Advisors LP lifted its position in shares of AvalonBay Communities by 18.3% during the first quarter. First Trust Advisors LP now owns 224,530 shares of the real estate investment trust’s stock valued at $45,070,000 after buying an additional 34,654 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of AvalonBay Communities during the first quarter valued at about $229,000. Marshall Wace North America L.P. lifted its position in shares of AvalonBay Communities by 54.0% during the first quarter. Marshall Wace North America L.P. now owns 15,373 shares of the real estate investment trust’s stock valued at $3,086,000 after buying an additional 5,392 shares during the last quarter. Allstate Corp lifted its position in shares of AvalonBay Communities by 15.2% during the first quarter. Allstate Corp now owns 5,459 shares of the real estate investment trust’s stock valued at $1,096,000 after buying an additional 719 shares during the last quarter. Finally, Horizon Investments LLC lifted its position in shares of AvalonBay Communities by 4.3% during the first quarter. Horizon Investments LLC now owns 17,140 shares of the real estate investment trust’s stock valued at $3,441,000 after buying an additional 711 shares during the last quarter. Institutional investors and hedge funds own 92.46% of the company’s stock.

Several analysts have commented on the stock. Wells Fargo & Co increased their price target on shares of AvalonBay Communities from $218.00 to $224.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. BTIG Research increased their price target on shares of AvalonBay Communities to $235.00 and gave the company a “positive” rating in a research report on Thursday, August 15th. Citigroup increased their price target on shares of AvalonBay Communities from $205.00 to $210.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. increased their price target on shares of AvalonBay Communities from $214.00 to $224.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Finally, KeyCorp increased their price target on shares of AvalonBay Communities from $212.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. AvalonBay Communities has an average rating of “Hold” and an average target price of $214.21.

In other news, EVP William M. Mclaughlin sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $215.11, for a total transaction of $537,775.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the firm’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 transaction of $428,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,801 shares of company stock valued at $1,243,499 over the last three months. 0.42% of the stock is currently owned by insiders.

AVB opened at $218.08 on Friday. AvalonBay Communities Inc has a 12-month low of $167.01 and a 12-month high of $219.71. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $30.55 billion, a PE ratio of 23.88, a P/E/G ratio of 4.06 and a beta of 0.49. The firm has a 50 day moving average of $212.73 and a two-hundred day moving average of $206.34.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($1.10). AvalonBay Communities had a return on equity of 8.63% and a net margin of 41.83%. The business had revenue of $577.26 million for the quarter, compared to analysts’ expectations of $572.69 million. During the same period in the prior year, the business posted $2.23 earnings per share. As a group, analysts predict that AvalonBay Communities Inc will post 9.32 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $1.52 per share. This represents a $6.08 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, September 27th. AvalonBay Communities’s dividend payout ratio is presently 67.56%.

AvalonBay Communities Company Profile

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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