Virtu Financial LLC Sells 320 Shares of AvalonBay Communities Inc (AVB)

Virtu Financial LLC lessened its holdings in shares of AvalonBay Communities Inc (NYSE:AVB) by 9.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,248 shares of the real estate investment trust’s stock after selling 320 shares during the period. Virtu Financial LLC’s holdings in AvalonBay Communities were worth $588,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. IFP Advisors Inc lifted its holdings in shares of AvalonBay Communities by 627.2% during the third quarter. IFP Advisors Inc now owns 749 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 646 shares during the period. Zions Bancorporation acquired a new position in AvalonBay Communities in the third quarter valued at $158,000. Commerce Bank acquired a new position in AvalonBay Communities in the third quarter valued at $204,000. Checchi Capital Advisers LLC acquired a new position in AvalonBay Communities in the third quarter valued at $209,000. Finally, HRT Financial LLC acquired a new position in AvalonBay Communities in the second quarter valued at $201,000. Institutional investors own 92.45% of the company’s stock.

Shares of NYSE AVB opened at $188.61 on Friday. AvalonBay Communities Inc has a 1-year low of $152.65 and a 1-year high of $191.91. The stock has a market cap of $26.49 billion, a PE ratio of 21.88, a P/E/G ratio of 2.89 and a beta of 0.42. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.72.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $1.39 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.87). AvalonBay Communities had a net margin of 36.54% and a return on equity of 7.96%. The company had revenue of $575.98 million for the quarter, compared to analyst estimates of $573.87 million. During the same quarter in the prior year, the company posted $1.72 EPS. AvalonBay Communities’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts anticipate that AvalonBay Communities Inc will post 8.99 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $5.88 annualized dividend and a dividend yield of 3.12%. AvalonBay Communities’s dividend payout ratio is currently 68.21%.

Several research firms recently issued reports on AVB. BTIG Research upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $216.00 target price on the stock in a report on Thursday. Argus boosted their target price on shares of AvalonBay Communities from $196.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, November 21st. ValuEngine upgraded shares of AvalonBay Communities from a “hold” rating to a “buy” rating in a report on Wednesday, November 21st. Scotiabank set a $183.00 target price on shares of AvalonBay Communities and gave the company a “hold” rating in a report on Monday, November 12th. Finally, Deutsche Bank boosted their target price on shares of AvalonBay Communities from $186.00 to $192.00 and gave the company a “hold” rating in a report on Wednesday, September 5th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $192.88.

In other news, EVP Edward M. Schulman sold 1,400 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $183.76, for a total transaction of $257,264.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kevin P. O’shea sold 1,500 shares of the company’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $179.51, for a total transaction of $269,265.00. The disclosure for this sale can be found here. Insiders have sold 39,453 shares of company stock worth $7,365,478 in the last quarter. Company insiders own 0.43% of the company’s stock.

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AvalonBay Communities Profile

As of September 30, 2018, the Company owned or held a direct or indirect ownership interest in 290 apartment communities containing 84,490 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 15 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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