Bp Plc acquired a new stake in AvalonBay Communities, Inc. (NYSE:AVB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 16,000 shares of the real estate investment trust’s stock, valued at approximately $3,075,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Planning raised its position 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 valued at $104,000 after buying an additional 2 shares in the last quarter. BB&T Securities LLC raised its position in shares of 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 in the last quarter. Whittier Trust Co. raised its position in shares of 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 in the last quarter. Blair William & Co. IL raised its position in shares of 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 in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of 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 in the last quarter. 98.59% of the stock is owned by institutional investors.

AvalonBay Communities, Inc. (AVB) opened at 189.27 on Thursday. The firm has a market capitalization of $26.01 billion, a price-to-earnings ratio of 25.22 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 stock has a 50 day moving average of $190.44 and a 200 day moving average of $186.97.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.14 by $0.05. The business had revenue of $530.51 million during the quarter, compared to the consensus estimate of $529.48 million. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. During the same period last year, the firm earned $2.03 EPS. Equities research analysts anticipate that AvalonBay Communities, Inc. will post $5.03 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.00%. The ex-dividend date was Wednesday, June 28th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 78.13%.

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Several brokerages have weighed in on AVB. Royal Bank Of Canada reissued a “buy” rating and set a $203.00 price objective on shares of AvalonBay Communities in a report on Sunday, July 16th. Barclays PLC raised their price objective on shares of AvalonBay Communities from $174.00 to $188.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. BTIG Research raised their price objective on shares of AvalonBay Communities from $191.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, April 24th. Jefferies Group LLC reissued a “hold” rating and set a $196.00 price objective on shares of AvalonBay Communities in a report on Monday, April 24th. Finally, BMO Capital Markets reissued a “hold” rating and set a $191.00 price objective on shares of AvalonBay Communities in a report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $193.58.

In other AvalonBay Communities news, EVP Edward M. Schulman sold 1,764 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $191.82, for a total value of $338,370.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider William M. Mclaughlin sold 5,112 shares of the business’s stock in a transaction on 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. 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.

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

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