Sentry Investments Corp. lowered its position in AvalonBay Communities Inc (NYSE:AVB) by 4.3% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 146,910 shares of the real estate investment trust’s stock after selling 6,600 shares during the period. Sentry Investments Corp.’s holdings in AvalonBay Communities were worth $26,973,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. Muzinich & Co. Inc. boosted its position in AvalonBay Communities by 104.0% in the first quarter. Muzinich & Co. Inc. now owns 665 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 339 shares in the last quarter. Whittier Trust Co. boosted its position in AvalonBay Communities by 2.8% in the first quarter. Whittier Trust Co. now owns 1,144 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 31 shares in the last quarter. Wetherby Asset Management Inc. bought a new position in AvalonBay Communities during the fourth quarter worth about $257,000. IFM Investors Pty Ltd bought a new position in AvalonBay Communities during the fourth quarter worth about $306,000. Finally, Advisory Services Network LLC bought a new position in AvalonBay Communities during the first quarter worth about $396,000. Institutional investors and hedge funds own 97.05% of the company’s stock.
AvalonBay Communities Inc (AVB) traded down 0.89% during midday trading on Thursday, hitting $193.00. 396,951 shares of the stock were exchanged. The stock has a market cap of $26.52 billion, a PE ratio of 25.72 and a beta of 0.33. AvalonBay Communities Inc has a 1-year low of $158.32 and a 1-year high of $199.52. The company’s 50 day moving average is $191.25 and its 200-day moving average is $180.83.
AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, April 26th. The real estate investment trust reported $2.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by $0.02. The firm had revenue of $522.33 million during the quarter, compared to the consensus estimate of $520.56 million. AvalonBay Communities had a return on equity of 10.36% and a net margin of 50.56%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.97 EPS. On average, analysts expect that AvalonBay Communities Inc will post $5.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Wednesday, June 28th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 71.81%.
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A number of research firms recently issued reports on AVB. BTIG Research upped their price objective on shares of AvalonBay Communities from $191.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 24th. Barclays PLC upped their price objective on shares of AvalonBay Communities from $174.00 to $188.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 19th. Jefferies Group LLC reiterated a “hold” rating and set a $196.00 price objective on shares of AvalonBay Communities in a research report on Monday, April 24th. Royal Bank of Canada reiterated a “buy” rating and set a $191.00 price objective on shares of AvalonBay Communities in a research report on Monday, February 13th. Finally, Bank of America Corp raised shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $202.00 target price on the stock in a report on Wednesday, March 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $192.73.
In related news, COO Sean J. Breslin sold 1,500 shares of AvalonBay Communities stock in a transaction on Friday, May 5th. The shares were sold at an average price of $192.19, for a total value of $288,285.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Timothy J. Naughton sold 10,000 shares of AvalonBay Communities stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $191.14, for a total transaction of $1,911,400.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,224 shares of company stock worth $7,132,146. 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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