Pictet Asset Management Ltd. reduced its stake in shares of AvalonBay Communities Inc (NYSE:AVB) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,029 shares of the real estate investment trust’s stock after selling 2,600 shares during the quarter. Pictet Asset Management Ltd.’s holdings in AvalonBay Communities were worth $12,323,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Long Pond Capital LP lifted its stake in AvalonBay Communities by 71.0% in the second quarter. Long Pond Capital LP now owns 764,656 shares of the real estate investment trust’s stock valued at $131,437,000 after acquiring an additional 317,360 shares during the last quarter. Barings LLC lifted its stake in AvalonBay Communities by 10,824.0% in the third quarter. Barings LLC now owns 309,040 shares of the real estate investment trust’s stock valued at $55,983,000 after acquiring an additional 306,211 shares during the last quarter. BlackRock Inc. lifted its stake in AvalonBay Communities by 1.6% in the third quarter. BlackRock Inc. now owns 15,315,518 shares of the real estate investment trust’s stock valued at $2,774,406,000 after acquiring an additional 242,688 shares during the last quarter. Millennium Management LLC lifted its stake in AvalonBay Communities by 2,671.7% in the second quarter. Millennium Management LLC now owns 248,176 shares of the real estate investment trust’s stock valued at $42,659,000 after acquiring an additional 239,222 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in AvalonBay Communities by 111.7% in the third quarter. American Century Companies Inc. now owns 410,221 shares of the real estate investment trust’s stock valued at $74,312,000 after acquiring an additional 216,457 shares during the last quarter. Institutional investors and hedge funds own 92.45% of the company’s stock.

In other AvalonBay Communities news, SVP Keri A. Shea sold 1,880 shares of AvalonBay Communities stock in a transaction on Monday, November 19th. The shares were sold at an average price of $185.10, for a total transaction of $347,988.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP William M. Mclaughlin sold 23,302 shares of AvalonBay Communities stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $186.87, for a total transaction of $4,354,444.74. The disclosure for this sale can be found here. Insiders have sold 39,453 shares of company stock worth $7,365,478 in the last quarter. Corporate insiders own 0.43% of the company’s stock.

NYSE:AVB opened at $191.67 on Friday. AvalonBay Communities Inc has a 12 month low of $152.65 and a 12 month high of $191.78. The company has a market capitalization of $25.89 billion, a PE ratio of 22.24, a PEG ratio of 2.82 and a beta of 0.42. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.77 and a current ratio of 0.77.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $1.39 EPS for the quarter, missing the Zacks’ consensus estimate of $2.26 by ($0.87). AvalonBay Communities had a net margin of 36.54% and a return on equity of 7.96%. The firm had revenue of $575.98 million during the quarter, compared to the consensus estimate of $573.87 million. During the same period in the prior year, the business earned $1.72 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts predict that AvalonBay Communities Inc will post 8.99 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Friday, December 28th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 68.21%.

A number of research firms have issued reports on AVB. Evercore ISI set a $194.00 target price on shares of AvalonBay Communities and gave the company a “buy” rating in a research note on Monday, October 1st. BTIG Research upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $216.00 target price for the company in a research note on Thursday. ValuEngine upgraded shares of AvalonBay Communities from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Scotiabank set a $183.00 target price on shares of AvalonBay Communities and gave the company a “hold” rating in a research note on Monday, November 12th. Finally, Argus lifted their target price on shares of AvalonBay Communities from $196.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, November 21st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $192.88.

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AvalonBay Communities Company Profile

As of September 30, 2018, the Company owned or held a direct or indirect ownership interest in 290 apartment communities containing 84,490 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 15 communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

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

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