Municipal Employees Retirement System of Michigan lowered its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 19.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,570 shares of the real estate investment trust’s stock after selling 860 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in AvalonBay Communities were worth $637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Creative Planning raised its position in shares of AvalonBay Communities by 0.4% during the 2nd quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock worth $104,000 after acquiring an additional 2 shares in the last quarter. WFG Advisors LP raised its position in shares of AvalonBay Communities by 24.9% during the 2nd quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock worth $161,000 after acquiring an additional 167 shares in the last quarter. Bbva Compass Bancshares Inc. acquired a new stake in shares of AvalonBay Communities during the 2nd quarter worth about $206,000. Savant Capital LLC raised its position in shares of AvalonBay Communities by 4.6% during the 2nd quarter. Savant Capital LLC now owns 1,140 shares of the real estate investment trust’s stock worth $219,000 after acquiring an additional 50 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of AvalonBay Communities during the 2nd quarter worth about $226,000. 94.81% of the stock is currently owned by institutional investors.

Several equities research analysts have recently weighed in on the company. BMO Capital Markets reissued a “hold” rating and set a $190.00 target price on shares of AvalonBay Communities in a research report on Monday, November 27th. BidaskClub lowered AvalonBay Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Robert W. Baird reissued a “buy” rating and set a $202.00 target price on shares of AvalonBay Communities in a research report on Friday, September 1st. Mizuho reissued a “buy” rating and set a $220.00 target price on shares of AvalonBay Communities in a research report on Monday, November 6th. Finally, Stifel Nicolaus cut their target price on AvalonBay Communities from $209.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $199.20.

AvalonBay Communities, Inc. (NYSE AVB) opened at $181.33 on Friday. The stock has a market capitalization of $25,040.00, a P/E ratio of 21.36, a P/E/G ratio of 2.85 and a beta of 0.36. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.10 and a current ratio of 0.10. AvalonBay Communities, Inc. has a 12 month low of $163.27 and a 12 month high of $199.52.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.45). The firm had revenue of $550.50 million for 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 company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 EPS. analysts expect that AvalonBay Communities, Inc. will post 8.62 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $5.68 dividend on an annualized basis and a yield of 3.13%. AvalonBay Communities’s dividend payout ratio is presently 89.03%.

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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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