Eii Capital Management Inc. Reduces Position in AvalonBay Communities, Inc. (AVB)
Eii Capital Management Inc. reduced its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 27.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,619 shares of the real estate investment trust’s stock after selling 1,781 shares during the period. Eii Capital Management Inc.’s holdings in AvalonBay Communities were worth $824,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. Ffcm LLC raised its holdings in AvalonBay Communities by 6.6% in the 2nd quarter. Ffcm LLC now owns 10,736 shares of the real estate investment trust’s stock valued at $2,064,000 after acquiring an additional 667 shares in the last quarter. AXA raised its holdings in AvalonBay Communities by 7.7% in the 2nd quarter. AXA now owns 111,799 shares of the real estate investment trust’s stock valued at $21,485,000 after acquiring an additional 7,981 shares in the last quarter. Candriam Luxembourg S.C.A. raised its holdings in AvalonBay Communities by 6.6% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 11,496 shares of the real estate investment trust’s stock valued at $2,051,000 after acquiring an additional 716 shares in the last quarter. Koch Industries Inc. acquired a new position in AvalonBay Communities in the 2nd quarter valued at $365,000. Finally, PGGM Investments raised its holdings in AvalonBay Communities by 5.6% in the 3rd quarter. PGGM Investments now owns 1,642,210 shares of the real estate investment trust’s stock valued at $293,003,000 after acquiring an additional 86,594 shares in the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.
Several brokerages have weighed in on AVB. Zacks Investment Research raised AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Monday, October 30th. BMO Capital Markets reaffirmed a “hold” rating and issued a $190.00 price objective on shares of AvalonBay Communities in a report on Monday, November 27th. Evercore ISI raised AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 price objective for the company in a report on Monday, September 25th. KeyCorp reaffirmed a “hold” rating on shares of AvalonBay Communities in a report on Sunday, September 24th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $209.00 price objective on shares of AvalonBay Communities in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. AvalonBay Communities presently has a consensus rating of “Hold” and an average price target of $200.71.
In related news, insider Leo S. Horey III sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $182.75, for a total transaction of $365,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Sean J. Breslin sold 1,500 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $182.65, for a total value of $273,975.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,500 shares of company stock valued at $1,003,255 in the last three months. 0.46% of the stock is owned by insiders.
AvalonBay Communities, Inc. (AVB) opened at $182.31 on Thursday. 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, Inc. has a fifty-two week low of $168.47 and a fifty-two week high of $199.52. The company has a market capitalization of $25,360.54, a price-to-earnings ratio of 21.63, a PEG ratio of 2.89 and a beta of 0.35.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.45). AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The business had revenue of $550.50 million for the quarter, compared to analyst estimates of $539.69 million. During the same period last year, the firm posted $2.11 EPS. AvalonBay Communities’s quarterly revenue was up 6.6% on a year-over-year basis. research analysts expect that AvalonBay Communities, Inc. will post 8.62 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued 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 dividend yield of 3.12%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 88.75%.
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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