AvalonBay Communities Inc (NYSE:AVB) Shares Acquired by Putnam Investments LLC

Putnam Investments LLC lifted its stake in shares of AvalonBay Communities Inc (NYSE:AVB) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,081 shares of the real estate investment trust’s stock after buying an additional 553 shares during the period. Putnam Investments LLC owned approximately 0.05% of AvalonBay Communities worth $15,255,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. West Oak Capital LLC lifted its stake in shares of AvalonBay Communities by 5.6% during the second quarter. West Oak Capital LLC now owns 945 shares of the real estate investment trust’s stock worth $192,000 after buying an additional 50 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in AvalonBay Communities by 2.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 1,920 shares of the real estate investment trust’s stock valued at $390,000 after purchasing an additional 50 shares during the period. 6 Meridian lifted its position in AvalonBay Communities by 2.0% during the second quarter. 6 Meridian now owns 2,651 shares of the real estate investment trust’s stock valued at $539,000 after purchasing an additional 51 shares during the period. Cornerstone Advisors Inc. lifted its position in AvalonBay Communities by 85.5% during the first quarter. Cornerstone Advisors Inc. now owns 128 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 59 shares during the period. Finally, NEXT Financial Group Inc lifted its position in AvalonBay Communities by 16.7% during the second quarter. NEXT Financial Group Inc now owns 426 shares of the real estate investment trust’s stock valued at $87,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 92.46% of the company’s stock.

A number of research firms recently issued reports on AVB. Barclays decreased their target price on shares of AvalonBay Communities from $228.00 to $226.00 and set an “equal weight” rating for the company in a research report on Friday, September 6th. Wells Fargo & Co boosted their target price 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. JPMorgan Chase & Co. boosted their target price 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. KeyCorp boosted their target price 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. Finally, Zelman & Associates upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. AvalonBay Communities presently has a consensus rating of “Hold” and an average price target of $212.87.

Shares of AvalonBay Communities stock traded down $0.51 during trading hours on Friday, reaching $210.25. The stock had a trading volume of 12,371 shares, compared to its average volume of 545,300. The stock’s 50 day moving average is $208.49 and its 200 day moving average is $204.38. The firm has a market capitalization of $29.54 billion, a PE ratio of 23.41, a PEG ratio of 3.90 and a beta of 0.52. AvalonBay Communities Inc has a twelve month low of $167.01 and a twelve month high of $216.80. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.70.

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

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $1.52 dividend. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.89%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 67.56%.

In other AvalonBay Communities news, EVP Edward M. Schulman sold 1,301 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $213.47, for a total value of $277,724.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William M. Mclaughlin sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $215.11, for a total transaction of $537,775.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,801 shares of company stock valued at $1,243,499. Insiders own 0.42% of the company’s stock.

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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