Bank of New York Mellon Corp raised its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 9.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,184,930 shares of the real estate investment trust’s stock after acquiring an additional 276,035 shares during the period. Bank of New York Mellon Corp owned approximately 2.31% of AvalonBay Communities worth $568,255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of AVB. Creative Planning increased its position 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 acquiring an additional 2 shares during the last quarter. Eqis Capital Management Inc. bought a new position in AvalonBay Communities during the second quarter valued at $201,000. Exane Derivatives bought a new position in AvalonBay Communities during the second quarter valued at $651,000. LS Investment Advisors LLC increased its position in AvalonBay Communities by 0.6% during the second quarter. LS Investment Advisors LLC now owns 9,549 shares of the real estate investment trust’s stock valued at $1,835,000 after acquiring an additional 54 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in AvalonBay Communities by 1.2% during the second quarter. Louisiana State Employees Retirement System now owns 8,500 shares of the real estate investment trust’s stock valued at $1,633,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 96.85% of the company’s stock.

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AvalonBay Communities, Inc. (AVB) traded up $0.95 during trading hours on Tuesday, reaching $188.11. 400,500 shares of the company were exchanged, compared to its average volume of 685,176. 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 $25,844.53, a price-to-earnings ratio of 22.05, a PEG ratio of 2.94 and a beta of 0.36. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.69.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.17 by ($0.45). The business had revenue of $550.50 million during the quarter, compared to analysts’ expectations of $539.69 million. AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $2.11 earnings per share. sell-side analysts predict that AvalonBay Communities, Inc. will post 8.61 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Thursday, December 28th. AvalonBay Communities’s payout ratio is 88.75%.

A number of research analysts have weighed in on AVB shares. Barclays PLC boosted their price objective on shares of AvalonBay Communities from $188.00 to $189.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 18th. BidaskClub cut shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. BMO Capital Markets reiterated a “hold” rating and set a $191.00 price objective on shares of AvalonBay Communities in a research report on Wednesday, August 2nd. Deutsche Bank AG boosted their price objective on shares of AvalonBay Communities from $193.00 to $195.00 and gave the company a “hold” rating in a research report on Friday, August 18th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $209.00 price objective on shares of AvalonBay Communities in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $199.27.

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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