Lazard Asset Management LLC decreased its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 59.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,828 shares of the real estate investment trust’s stock after selling 26,672 shares during the period. Lazard Asset Management LLC’s holdings in AvalonBay Communities were worth $3,426,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Creative Planning increased its stake in AvalonBay Communities by 0.4% during the 2nd 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 increased its stake in AvalonBay Communities by 0.5% during the 1st 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. Conning Inc. increased its stake in AvalonBay Communities by 0.4% during the 2nd quarter. Conning Inc. now owns 4,289 shares of the real estate investment trust’s stock valued at $824,000 after buying an additional 19 shares during the period. Blair William & Co. IL increased its stake in AvalonBay Communities by 0.6% during the 1st 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 increased its stake in AvalonBay Communities by 0.4% during the 1st 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. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

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AvalonBay Communities, Inc. (NYSE:AVB) opened at 179.31 on Tuesday. AvalonBay Communities, Inc. has a 52-week low of $158.32 and a 52-week high of $199.52. The stock has a market capitalization of $24.69 billion, a P/E ratio of 24.69 and a beta of 0.35. The stock has a 50 day moving average of $187.92 and a 200 day moving average of $188.99.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.05). The company 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 company earned $2.03 earnings per share. On average, equities research analysts forecast that AvalonBay Communities, Inc. will post $5.19 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $1.42 dividend. The ex-dividend date is Thursday, September 28th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.17%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 78.13%.

AVB has been the topic of several research analyst reports. Argus initiated coverage on shares of AvalonBay Communities in a research note on Thursday, June 22nd. They set a “buy” rating and a $220.00 target price on the stock. Jefferies Group LLC reissued a “hold” rating and set a $196.00 target price on shares of AvalonBay Communities in a research note on Tuesday, July 4th. BidaskClub cut shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Royal Bank Of Canada reissued a “buy” rating and set a $203.00 target price on shares of AvalonBay Communities in a research note on Sunday, July 16th. Finally, Barclays PLC raised their target price on shares of AvalonBay Communities from $188.00 to $189.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $196.00.

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.

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

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