AvalonBay Communities, Inc. (AVB) Holdings Reduced by AMP Capital Investors Ltd

AMP Capital Investors Ltd reduced its position in AvalonBay Communities, Inc. (NYSE:AVB) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 617,337 shares of the real estate investment trust’s stock after selling 4,300 shares during the quarter. AMP Capital Investors Ltd owned about 0.45% of AvalonBay Communities worth $110,146,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in AvalonBay Communities by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 22,015,933 shares of the real estate investment trust’s stock valued at $4,230,802,000 after buying an additional 158,436 shares during the period. BlackRock Inc. increased its holdings in AvalonBay Communities by 1.1% in the 2nd quarter. BlackRock Inc. now owns 14,559,192 shares of the real estate investment trust’s stock valued at $2,797,838,000 after buying an additional 161,167 shares during the period. FMR LLC increased its holdings in AvalonBay Communities by 22.2% in the 2nd quarter. FMR LLC now owns 5,341,390 shares of the real estate investment trust’s stock valued at $1,026,454,000 after buying an additional 969,095 shares during the period. Bank of New York Mellon Corp increased its holdings in AvalonBay Communities by 9.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,184,930 shares of the real estate investment trust’s stock valued at $568,255,000 after buying an additional 276,035 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in AvalonBay Communities by 5.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,932,070 shares of the real estate investment trust’s stock valued at $523,140,000 after buying an additional 138,649 shares during the period. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AvalonBay Communities, Inc. (NYSE:AVB) opened at $178.81 on Wednesday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.69. AvalonBay Communities, Inc. has a 1 year low of $163.58 and a 1 year high of $199.52. The company has a market cap of $25,010.48, a P/E ratio of 21.33, a P/E/G ratio of 2.85 and a beta of 0.35.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $1.72 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.45). AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The business had revenue of $550.50 million for the quarter, compared to analyst estimates of $539.69 million. During the same quarter in the prior year, the business earned $2.11 earnings per share. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. analysts predict that AvalonBay Communities, Inc. will post 8.62 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, December 28th. This represents a $5.68 annualized dividend and a yield of 3.18%. AvalonBay Communities’s dividend payout ratio is presently 88.75%.

Several research firms have commented on AVB. Deutsche Bank raised their target price on shares of AvalonBay Communities from $193.00 to $195.00 and gave the company a “hold” rating in a report on Friday, August 18th. BidaskClub lowered shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Goldman Sachs Group lowered shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 price target on the stock. in a report on Tuesday, September 5th. Robert W. Baird reaffirmed a “buy” rating and set a $202.00 price target on shares of AvalonBay Communities in a report on Friday, September 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $209.00 price target on shares of AvalonBay Communities in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. AvalonBay Communities currently has a consensus rating of “Hold” and a consensus price target of $199.20.

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About AvalonBay Communities

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.

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

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