Oppenheimer Asset Management Inc. boosted its position in AvalonBay Communities Inc (NYSE:AVB) by 130.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,186 shares of the real estate investment trust’s stock after acquiring an additional 3,497 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AvalonBay Communities were worth $1,333,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. West Oak Capital LLC grew its holdings in AvalonBay Communities by 5.6% in the 2nd quarter. West Oak Capital LLC now owns 945 shares of the real estate investment trust’s stock worth $192,000 after acquiring an additional 50 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of AvalonBay Communities by 2.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 1,920 shares of the real estate investment trust’s stock valued at $390,000 after purchasing an additional 50 shares in the last quarter. 6 Meridian boosted its stake in shares of AvalonBay Communities by 2.0% during the 2nd quarter. 6 Meridian now owns 2,651 shares of the real estate investment trust’s stock valued at $539,000 after purchasing an additional 51 shares in the last quarter. CX Institutional boosted its stake in shares of AvalonBay Communities by 85.5% during the 3rd quarter. CX Institutional now owns 115 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 53 shares in the last quarter. Finally, NEXT Financial Group Inc boosted its stake in shares of AvalonBay Communities by 16.7% during the 2nd quarter. NEXT Financial Group Inc now owns 426 shares of the real estate investment trust’s stock valued at $87,000 after purchasing an additional 61 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP William M. Mclaughlin sold 2,500 shares of AvalonBay Communities stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $215.11, for a total transaction of $537,775.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Leo S. Horey III sold 2,000 shares of AvalonBay Communities stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $214.00, for a total transaction of $428,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,801 shares of company stock valued at $1,243,499. 0.42% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of AvalonBay Communities from $214.00 to $224.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. SunTrust Banks lifted their target price on shares of AvalonBay Communities from $211.00 to $218.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. They noted that the move was a valuation call. BTIG Research lifted their target price on shares of AvalonBay Communities to $235.00 and gave the company a “positive” rating in a research note on Thursday, August 15th. Morgan Stanley lifted their target price on shares of AvalonBay Communities from $217.00 to $229.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Co lifted their target price on shares of AvalonBay Communities from $218.00 to $224.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $219.43.

Shares of NYSE AVB opened at $209.14 on Friday. AvalonBay Communities Inc has a 1 year low of $167.01 and a 1 year high of $222.87. The stock has a market cap of $29.42 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 3.66 and a beta of 0.47. The firm has a 50-day moving average of $216.41 and a 200 day moving average of $208.59. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.08 and a quick ratio of 1.08.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.80. AvalonBay Communities had a net margin of 45.56% and a return on equity of 9.35%. The company had revenue of $587.61 million during the quarter, compared to analysts’ expectations of $585.86 million. During the same period last year, the company posted $1.39 EPS. Research analysts expect that AvalonBay Communities Inc will post 9.3 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $1.52 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $6.08 dividend on an annualized basis and a yield of 2.91%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 67.56%.

About AvalonBay Communities

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine 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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