Marshall Wace LLP Takes $3.73 Million Position in AvalonBay Communities Inc (NYSE:AVB)
Marshall Wace LLP bought a new stake in AvalonBay Communities Inc (NYSE:AVB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 17,786 shares of the real estate investment trust’s stock, valued at approximately $3,729,000.
Several other institutional investors also recently made changes to their positions in AVB. Duncker Streett & Co. Inc. bought a new position in AvalonBay Communities during the fourth quarter worth about $34,000. Muzinich & Co. Inc. lifted its holdings in shares of AvalonBay Communities by 18.8% in the fourth quarter. Muzinich & Co. Inc. now owns 291 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 46 shares in the last quarter. Evoke Wealth LLC bought a new stake in shares of AvalonBay Communities in the third quarter valued at about $69,000. Rational Advisors LLC lifted its holdings in shares of AvalonBay Communities by 132.4% in the fourth quarter. Rational Advisors LLC now owns 330 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 188 shares in the last quarter. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of AvalonBay Communities by 40.4% in the fourth quarter. CSat Investment Advisory L.P. now owns 386 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 111 shares in the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently commented on AVB shares. Mizuho upgraded AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $230.00 price target on the stock in a report on Wednesday, January 15th. SunTrust Banks boosted their price target on AvalonBay Communities from $222.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. They noted that the move was a valuation call. BMO Capital Markets lowered AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price target on the stock. in a report on Tuesday, January 7th. JPMorgan Chase & Co. upgraded AvalonBay Communities from a “neutral” rating to an “overweight” rating and set a $230.00 price target on the stock in a report on Wednesday, December 18th. Finally, Deutsche Bank boosted their price target on AvalonBay Communities from $218.00 to $221.00 and gave the company a “hold” rating in a report on Monday, December 9th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. AvalonBay Communities currently has an average rating of “Buy” and a consensus target price of $227.25.
AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($1.20). AvalonBay Communities had a return on equity of 7.26% and a net margin of 35.42%. The company had revenue of $593.52 million for the quarter, compared to the consensus estimate of $593.59 million. During the same quarter in the previous year, the company posted $2.31 EPS. The business’s revenue was up 2.6% on a year-over-year basis. On average, research analysts forecast that AvalonBay Communities Inc will post 9.76 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Monday, March 30th. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.52. AvalonBay Communities’s dividend payout ratio is presently 65.10%.
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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