Baldwin Brothers Inc. MA increased its position in AvalonBay Communities Inc (NYSE:AVB) by 16.1% during the first quarter, Holdings Channel reports. The firm owned 39,368 shares of the real estate investment trust’s stock after buying an additional 5,461 shares during the period. Baldwin Brothers Inc. MA’s holdings in AvalonBay Communities were worth $7,228,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the company. Wetherby Asset Management Inc. bought a new stake in AvalonBay Communities during the fourth quarter worth approximately $257,000. Advisor Group Inc. increased its stake in AvalonBay Communities by 10.8% in the third quarter. Advisor Group Inc. now owns 1,692 shares of the real estate investment trust’s stock worth $300,000 after buying an additional 165 shares during the period. IFM Investors Pty Ltd bought a new stake in AvalonBay Communities during the fourth quarter worth approximately $306,000. Bridgewater Associates LP bought a new stake in AvalonBay Communities during the third quarter worth approximately $320,000. Finally, Rikoon Group LLC bought a new stake in AvalonBay Communities during the third quarter worth approximately $358,000. 97.05% of the stock is owned by institutional investors and hedge funds.
Shares of AvalonBay Communities Inc (NYSE:AVB) traded up 0.71% during mid-day trading on Monday, hitting $187.80. 65,562 shares of the stock traded hands. The company has a market cap of $25.79 billion, a P/E ratio of 24.97 and a beta of 0.33. The firm has a 50 day moving average of $183.81 and a 200 day moving average of $174.96. AvalonBay Communities Inc has a 12 month low of $158.32 and a 12 month high of $192.29.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, February 1st. The real estate investment trust reported $2.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.94. The company had revenue of $518.24 million for the quarter, compared to analyst estimates of $517.45 million. AvalonBay Communities had a net margin of 50.56% and a return on equity of 10.36%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $1.99 earnings per share. Equities analysts anticipate that AvalonBay Communities Inc will post $4.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Wednesday, March 29th. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.35. AvalonBay Communities’s dividend payout ratio (DPR) is currently 71.81%.
AVB has been the subject of a number of recent research reports. Mizuho reissued a “buy” rating and set a $190.00 price objective on shares of AvalonBay Communities in a research report on Tuesday, February 7th. Zacks Investment Research raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Monday, December 19th. Royal Bank of Canada reissued a “buy” rating and set a $191.00 price objective on shares of AvalonBay Communities in a research report on Monday, February 13th. Bank of America Corp raised shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $202.00 price objective for the company in a research report on Wednesday, March 8th. Finally, BMO Capital Markets reissued a “hold” rating and set a $183.00 price objective on shares of AvalonBay Communities in a research report on Thursday, February 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. AvalonBay Communities presently has an average rating of “Hold” and a consensus price target of $189.36.
In other news, CFO Kevin P. O’shea sold 3,560 shares of AvalonBay Communities stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $182.19, for a total value of $648,596.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Leo S. Horey III sold 1,000 shares of AvalonBay Communities stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $183.50, for a total transaction of $183,500.00. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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