State of New Jersey Common Pension Fund D cut its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 6.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 128,500 shares of the real estate investment trust’s stock after selling 9,000 shares during the period. State of New Jersey Common Pension Fund D owned 0.09% of AvalonBay Communities worth $24,693,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Creative Planning raised its position in AvalonBay Communities by 0.4% in the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 2 shares during the period. BB&T Securities LLC raised its position in AvalonBay Communities by 0.5% in the first quarter. BB&T Securities LLC now owns 3,508 shares of the real estate investment trust’s stock valued at $644,000 after buying an additional 16 shares during the period. Whittier Trust Co. raised its position in AvalonBay Communities by 2.8% in the first quarter. Whittier Trust Co. now owns 1,144 shares of the real estate investment trust’s stock valued at $210,000 after buying an additional 31 shares during the period. Blair William & Co. IL raised its position in AvalonBay Communities by 0.6% in the first quarter. Blair William & Co. IL now owns 7,171 shares of the real estate investment trust’s stock valued at $1,317,000 after buying an additional 44 shares during the period. Finally, Fifth Third Bancorp raised its position in AvalonBay Communities by 0.4% in the first quarter. Fifth Third Bancorp now owns 12,440 shares of the real estate investment trust’s stock valued at $2,284,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 98.59% of the company’s stock.

AvalonBay Communities, Inc. (NYSE AVB) opened at 187.87 on Monday. The stock has a market cap of $25.82 billion, a price-to-earnings ratio of 25.03 and a beta of 0.34. AvalonBay Communities, Inc. has a 12-month low of $158.32 and a 12-month high of $199.52. The company’s 50 day moving average price is $191.58 and its 200-day moving average price is $186.57.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by $0.05. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. The business had revenue of $530.51 million for the quarter, compared to the consensus estimate of $529.48 million. During the same period in the prior year, the company earned $2.03 EPS. On average, analysts forecast that AvalonBay Communities, Inc. will post $5.00 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Wednesday, June 28th. AvalonBay Communities’s dividend payout ratio is presently 78.13%.

ILLEGAL ACTIVITY WARNING: “State of New Jersey Common Pension Fund D Has $24.69 Million Position in AvalonBay Communities, Inc. (NYSE:AVB)” was first reported by Daily Political and is owned by of Daily Political. If you are reading this news story on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this news story can be viewed at https://www.dailypolitical.com/2017/08/07/state-of-new-jersey-common-pension-fund-d-has-24-69-million-position-in-avalonbay-communities-inc-nyseavb.html.

AVB has been the topic of several recent analyst reports. BidaskClub lowered AvalonBay Communities from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Barclays PLC increased their target price on AvalonBay Communities from $188.00 to $189.00 and gave the company an “equal weight” rating in a report on Tuesday, July 18th. JMP Securities lowered AvalonBay Communities from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 19th. They noted that the move was a valuation call. Jefferies Group LLC reissued a “hold” rating and issued a $196.00 target price on shares of AvalonBay Communities in a report on Tuesday, July 4th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $191.00 target price on shares of AvalonBay Communities in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. AvalonBay Communities presently has a consensus rating of “Hold” and an average target price of $193.58.

In related news, SVP Keri A. Shea sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $192.36, for a total transaction of $192,360.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider William M. Mclaughlin sold 5,112 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $193.88, for a total transaction of $991,114.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,626 shares of company stock valued at $2,047,645. Insiders own 0.53% of the company’s stock.

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)

Receive News & Ratings for AvalonBay Communities Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities Inc. and related companies with MarketBeat.com's FREE daily email newsletter.