UBS Asset Management Americas Inc. boosted its stake in AvalonBay Communities Inc. (NYSE:AVB) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 733,313 shares of the real estate investment trust’s stock after buying an additional 7,844 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.53% of AvalonBay Communities worth $130,412,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AVB. Emerald Acquisition Ltd. purchased a new position in shares of AvalonBay Communities during the second quarter valued at $129,792,000. Standard Life Investments LTD raised its position in shares of AvalonBay Communities by 746.9% in the third quarter. Standard Life Investments LTD now owns 679,719 shares of the real estate investment trust’s stock valued at $120,864,000 after buying an additional 599,463 shares during the last quarter. FMR LLC raised its position in shares of AvalonBay Communities by 25.3% in the second quarter. FMR LLC now owns 2,823,120 shares of the real estate investment trust’s stock valued at $509,263,000 after buying an additional 570,396 shares during the last quarter. Cohen & Steers Inc. raised its position in shares of AvalonBay Communities by 5,534.7% in the second quarter. Cohen & Steers Inc. now owns 573,500 shares of the real estate investment trust’s stock valued at $24,781,000 after buying an additional 563,322 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of AvalonBay Communities by 2.0% in the second quarter. Vanguard Group Inc. now owns 21,146,084 shares of the real estate investment trust’s stock valued at $3,814,543,000 after buying an additional 406,436 shares during the last quarter. 96.50% of the stock is currently owned by institutional investors.
Shares of AvalonBay Communities Inc. (NYSE:AVB) traded up 0.11% during trading on Friday, hitting $160.62. The stock had a trading volume of 255,708 shares. The stock’s 50-day moving average is $167.51 and its 200-day moving average is $176.05. The stock has a market capitalization of $22.06 billion, a P/E ratio of 23.30 and a beta of 0.39. AvalonBay Communities Inc. has a 12-month low of $158.32 and a 12-month high of $192.29.
AvalonBay Communities (NYSE:AVB) last released its earnings results on Monday, October 24th. The real estate investment trust reported $2.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.11. AvalonBay Communities had a return on equity of 9.57% and a net margin of 50.39%. During the same period in the prior year, the company earned $2.02 EPS. Analysts predict that AvalonBay Communities Inc. will post $8.29 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 16th. Investors of record on Friday, December 30th will be given a $1.35 dividend. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.37%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $0.01. AvalonBay Communities’s payout ratio is currently 78.37%.
AVB has been the topic of a number of analyst reports. Sandler O’Neill raised AvalonBay Communities from a “hold” rating to a “buy” rating in a report on Tuesday, September 6th. Jefferies Group reissued a “hold” rating on shares of AvalonBay Communities in a report on Tuesday, September 6th. Deutsche Bank AG lowered their price objective on AvalonBay Communities from $194.00 to $193.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. BTIG Research initiated coverage on AvalonBay Communities in a report on Thursday, August 25th. They set a “buy” rating and a $208.00 price objective on the stock. Finally, Zacks Investment Research lowered AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Tuesday, October 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $196.13.
AvalonBay Communities Company Profile