Janus Henderson Group PLC lessened its position in shares of AvalonBay Communities Inc (NYSE:AVB) by 78.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,280 shares of the real estate investment trust’s stock after selling 249,595 shares during the quarter. Janus Henderson Group PLC’s holdings in AvalonBay Communities were worth $11,736,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of AVB. Adviser Investments LLC purchased a new stake in AvalonBay Communities during the 2nd quarter valued at about $124,000. Assetmark Inc. grew its stake in AvalonBay Communities by 44.1% during the 1st quarter. Assetmark Inc. now owns 1,156 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 354 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new stake in AvalonBay Communities during the 1st quarter valued at about $201,000. Whittier Trust Co. grew its stake in AvalonBay Communities by 86.2% during the 2nd quarter. Whittier Trust Co. now owns 1,873 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 867 shares during the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of AvalonBay Communities in the second quarter worth about $278,000. Institutional investors and hedge funds own 93.23% of the company’s stock.
A number of analysts have recently commented on the company. Deutsche Bank upped their target price on AvalonBay Communities from $186.00 to $192.00 and gave the stock a “hold” rating in a research note on Wednesday, September 5th. Zelman & Associates downgraded AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. Mizuho restated a “buy” rating and issued a $212.00 target price on shares of AvalonBay Communities in a research note on Monday, August 6th. Robert W. Baird downgraded AvalonBay Communities from an “outperform” rating to a “neutral” rating and set a $197.00 target price on the stock. in a research note on Wednesday, August 15th. Finally, Argus upped their target price on AvalonBay Communities to $196.00 and gave the stock a “buy” rating in a research note on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $192.50.
Shares of AVB stock opened at $183.29 on Friday. The company has a market cap of $25.39 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 2.68 and a beta of 0.33. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.73. AvalonBay Communities Inc has a 12-month low of $152.65 and a 12-month high of $188.91.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.36). The business had revenue of $569.24 million for the quarter, compared to analysts’ expectations of $565.41 million. AvalonBay Communities had a return on equity of 8.42% and a net margin of 39.01%. During the same quarter in the prior year, the company posted $2.09 EPS. research analysts predict that AvalonBay Communities Inc will post 8.99 EPS for the current year.
In other AvalonBay Communities news, CFO Kevin P. O’shea sold 2,000 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $179.85, for a total transaction of $359,700.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Sean J. Breslin sold 7,200 shares of the stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $182.20, for a total value of $1,311,840.00. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.
About AvalonBay Communities
As of June 30, 2018, the Company owned or held a direct or indirect ownership interest in 287 apartment communities containing 84,043 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 16 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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