Metis Global Partners LLC Grows Position in AvalonBay Communities, Inc. $AVB

Metis Global Partners LLC grew its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 32.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,269 shares of the real estate investment trust’s stock after purchasing an additional 14,509 shares during the period. Metis Global Partners LLC’s holdings in AvalonBay Communities were worth $10,746,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp boosted its position in AvalonBay Communities by 1.0% in the 3rd quarter. State Street Corp now owns 9,537,966 shares of the real estate investment trust’s stock worth $1,858,788,000 after purchasing an additional 92,467 shares in the last quarter. Norges Bank acquired a new position in shares of AvalonBay Communities during the 4th quarter worth approximately $1,394,635,000. JPMorgan Chase & Co. lifted its position in shares of AvalonBay Communities by 22.4% during the 4th quarter. JPMorgan Chase & Co. now owns 5,159,950 shares of the real estate investment trust’s stock valued at $935,551,000 after buying an additional 944,129 shares in the last quarter. Principal Financial Group Inc. grew its stake in AvalonBay Communities by 9.3% in the 4th quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust’s stock valued at $815,360,000 after acquiring an additional 383,983 shares during the period. Finally, Geode Capital Management LLC increased its holdings in AvalonBay Communities by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 4,151,217 shares of the real estate investment trust’s stock worth $750,042,000 after acquiring an additional 228,244 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Down 0.2%

Shares of AVB opened at $186.57 on Thursday. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $209.86. The company has a market capitalization of $25.95 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 3.25 and a beta of 0.78. The stock has a fifty day simple moving average of $179.09 and a two-hundred day simple moving average of $177.59. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.80.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.The company had revenue of $770.28 million during the quarter, compared to analyst estimates of $768.80 million. During the same period last year, the business earned $2.83 earnings per share. As a group, equities analysts forecast that AvalonBay Communities, Inc. will post 11.31 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. AvalonBay Communities’s dividend payout ratio (DPR) is 103.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Citigroup reduced their price objective on shares of AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Barclays cut their target price on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Scotiabank decreased their price target on shares of AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 14th. Wells Fargo & Company lowered their price objective on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Finally, UBS Group cut their price objective on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Five analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities currently has an average rating of “Hold” and a consensus price target of $198.44.

About AvalonBay Communities

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.