Land & Buildings Investment Management LLC Acquires New Holdings in AvalonBay Communities, Inc. $AVB

Land & Buildings Investment Management LLC bought a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 19,248 shares of the real estate investment trust’s stock, valued at approximately $3,718,000. AvalonBay Communities accounts for approximately 0.7% of Land & Buildings Investment Management LLC’s holdings, making the stock its 21st largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of AvalonBay Communities in the second quarter worth $1,394,225,000. Invesco Ltd. raised its position in AvalonBay Communities by 70.2% during the 2nd quarter. Invesco Ltd. now owns 2,593,727 shares of the real estate investment trust’s stock worth $527,823,000 after purchasing an additional 1,069,793 shares during the last quarter. Bank of America Corp DE lifted its holdings in AvalonBay Communities by 76.0% during the 3rd quarter. Bank of America Corp DE now owns 2,355,838 shares of the real estate investment trust’s stock worth $455,077,000 after buying an additional 1,017,286 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of AvalonBay Communities by 23.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,816,163 shares of the real estate investment trust’s stock valued at $573,091,000 after buying an additional 530,274 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its position in shares of AvalonBay Communities by 126.5% in the 3rd quarter. Bahl & Gaynor Inc. now owns 555,832 shares of the real estate investment trust’s stock valued at $107,370,000 after buying an additional 310,412 shares during the last quarter. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Stock Up 0.1%

Shares of AvalonBay Communities stock opened at $169.20 on Tuesday. The stock’s 50-day moving average is $177.03 and its 200 day moving average is $181.87. AvalonBay Communities, Inc. has a one year low of $166.73 and a one year high of $217.32. The firm has a market cap of $23.70 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 2.96 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.77 and a quick ratio of 0.77.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.01. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.The business had revenue of $767.86 million during the quarter, compared to the consensus estimate of $766.38 million. During the same period in the previous year, the company posted $2.80 earnings per share. Equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $1.78 per share. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $7.12 annualized dividend and a dividend yield of 4.2%. AvalonBay Communities’s payout ratio is 85.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Scotiabank lowered their price objective on AvalonBay Communities from $193.00 to $190.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft downgraded shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 target price for the company. in a research report on Tuesday, January 20th. Barclays lowered their price target on shares of AvalonBay Communities from $217.00 to $202.00 and set an “overweight” rating for the company in a report on Friday, March 6th. Morgan Stanley dropped their price target on shares of AvalonBay Communities from $222.50 to $208.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Mizuho reduced their price objective on shares of AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Five equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $198.75.

AvalonBay Communities Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.