Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 7.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 44,550 shares of the real estate investment trust’s stock after selling 3,846 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in AvalonBay Communities were worth $8,561,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. First Citizens Bank & Trust Co. bought a new stake in shares of AvalonBay Communities during the first quarter valued at approximately $2,685,000. Mn Services Vermogensbeheer B.V. boosted its stake in shares of AvalonBay Communities by 4.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,662 shares of the real estate investment trust’s stock valued at $629,000 after buying an additional 146 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in shares of AvalonBay Communities by 36.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 8,903 shares of the real estate investment trust’s stock valued at $1,635,000 after buying an additional 2,399 shares during the period. Hexavest Inc. boosted its stake in shares of AvalonBay Communities by 5.6% in the first quarter. Hexavest Inc. now owns 159,855 shares of the real estate investment trust’s stock valued at $29,349,000 after buying an additional 8,459 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of AvalonBay Communities by 8.6% in the first quarter. State of Alaska Department of Revenue now owns 54,419 shares of the real estate investment trust’s stock valued at $9,990,000 after buying an additional 4,297 shares during the period. Hedge funds and other institutional investors own 98.59% of the company’s stock.

Shares of AvalonBay Communities, Inc. (AVB) opened at 189.05 on Friday. The stock has a market capitalization of $26.03 billion, a P/E ratio of 26.04 and a beta of 0.34. The stock’s 50 day moving average is $190.28 and its 200-day moving average is $186.98. AvalonBay Communities, Inc. has a one year low of $158.32 and a one year high of $199.52.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 during the quarter, compared to analyst estimates of $529.48 million. During the same period in the previous year, the company posted $2.03 earnings per share. On average, equities research analysts expect that AvalonBay Communities, Inc. will post $5.19 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Wednesday, June 28th. AvalonBay Communities’s dividend payout ratio is presently 78.13%.

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A number of equities analysts have issued reports on AVB shares. Argus started coverage on shares of AvalonBay Communities in a research report on Thursday, June 22nd. They set a “buy” rating and a $220.00 target price for the company. Jefferies Group LLC restated a “hold” rating and set a $196.00 target price on shares of AvalonBay Communities in a research report on Tuesday, July 4th. BMO Capital Markets restated a “hold” rating and set a $191.00 target price on shares of AvalonBay Communities in a research report on Thursday, May 25th. Deutsche Bank AG cut shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $193.00 target price for the company. in a research report on Wednesday, May 17th. Finally, BidaskClub upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $193.58.

In other AvalonBay Communities news, insider William M. Mclaughlin sold 5,112 shares of the company’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Edward M. Schulman sold 1,764 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $191.82, for a total transaction of $338,370.48. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

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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