Public Sector Pension investment Board lessened its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 50.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,510 shares of the real estate investment trust’s stock after selling 15,700 shares during the period. Public Sector Pension investment Board’s holdings in AvalonBay Communities were worth $2,981,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Creative Planning grew its holdings in AvalonBay Communities by 0.4% during the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 2 shares during the last quarter. Muzinich & Co. Inc. grew its holdings in AvalonBay Communities by 104.0% during the first quarter. Muzinich & Co. Inc. now owns 665 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 339 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in AvalonBay Communities by 546.9% during the first quarter. Perigon Wealth Management LLC now owns 1,035 shares of the real estate investment trust’s stock valued at $191,000 after purchasing an additional 875 shares during the last quarter. Eqis Capital Management Inc. acquired a new position in AvalonBay Communities during the second quarter valued at approximately $201,000. Finally, Bbva Compass Bancshares Inc. acquired a new position in AvalonBay Communities during the second quarter valued at approximately $206,000. Institutional investors own 97.52% of the company’s stock.

AvalonBay Communities (NYSE:AVB) last posted its earnings results 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). The business had revenue of $530.51 million for the quarter, compared to analyst estimates of $529.48 million. AvalonBay Communities had a return on equity of 9.88% and a net margin of 47.90%. During the same period in the previous year, the firm posted $2.03 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, September 28th. AvalonBay Communities’s payout ratio is presently 78.13%.

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AVB has been the topic of several analyst reports. Robert W. Baird reiterated a “buy” rating and set a $202.00 price target on shares of AvalonBay Communities in a report on Friday, September 1st. BidaskClub downgraded AvalonBay Communities from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) downgraded AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 price target on the stock. in a report on Tuesday, September 5th. Barclays PLC increased their price target on AvalonBay Communities from $188.00 to $189.00 and gave the company an “equal weight” rating in a report on Tuesday, July 18th. Finally, Deutsche Bank AG increased their price target on AvalonBay Communities from $193.00 to $195.00 and gave the company a “hold” rating in a report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $195.47.

AvalonBay Communities Company Profile

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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