Profund Advisors LLC increased its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 25.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,904 shares of the real estate investment trust’s stock after purchasing an additional 1,782 shares during the quarter. Profund Advisors LLC’s holdings in AvalonBay Communities were worth $1,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning grew its stake in shares of AvalonBay Communities by 0.4% in the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 2 shares during the last quarter. Muzinich & Co. Inc. grew its stake in shares of AvalonBay Communities by 104.0% in the first quarter. Muzinich & Co. Inc. now owns 665 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 339 shares during the last quarter. Perigon Wealth Management LLC grew its stake in shares of AvalonBay Communities by 546.9% in the first quarter. Perigon Wealth Management LLC now owns 1,035 shares of the real estate investment trust’s stock worth $191,000 after purchasing an additional 875 shares during the last quarter. Eqis Capital Management Inc. bought a new stake in shares of AvalonBay Communities in the second quarter worth about $201,000. Finally, Bbva Compass Bancshares Inc. bought a new stake in shares of AvalonBay Communities in the second quarter worth about $206,000. 97.52% of the stock is currently owned by institutional investors.
Shares of AvalonBay Communities, Inc. (NYSE:AVB) opened at 183.60 on Tuesday. AvalonBay Communities, Inc. has a 52-week low of $158.32 and a 52-week high of $199.52. The firm’s 50-day moving average price is $188.23 and its 200 day moving average price is $188.99. The company has a market capitalization of $25.28 billion, a PE ratio of 25.29 and a beta of 0.35.
AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 EPS for the quarter, missing the Zacks’ consensus estimate of $2.14 by ($0.05). The company had revenue of $530.51 million during the quarter, compared to the consensus estimate of $529.48 million. AvalonBay Communities had a return on equity of 9.88% and a net margin of 47.90%. During the same quarter in the prior year, the company earned $2.03 earnings per share. On average, equities analysts forecast that AvalonBay Communities, Inc. will post $5.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $1.42 dividend. The ex-dividend date is Thursday, September 28th. This represents a $5.68 dividend on an annualized basis and a yield of 3.10%. AvalonBay Communities’s dividend payout ratio is currently 78.13%.
Several analysts recently issued reports on the company. Argus assumed coverage on AvalonBay Communities in a research note on Thursday, June 22nd. They issued a “buy” rating and a $220.00 target price on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $196.00 target price on shares of AvalonBay Communities in a research note on Tuesday, July 4th. BMO Capital Markets reissued a “hold” rating and issued a $191.00 target price on shares of AvalonBay Communities in a research note on Thursday, May 25th. BidaskClub raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Deutsche Bank AG raised their target price on AvalonBay Communities from $193.00 to $195.00 and gave the stock a “hold” rating in a research note on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $195.47.
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AvalonBay Communities Profile
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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