Calamos Advisors LLC lowered its stake in shares of AvalonBay Communities Inc (NYSE:AVB) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,246 shares of the real estate investment trust’s stock after selling 795 shares during the period. Calamos Advisors LLC’s holdings in AvalonBay Communities were worth $10,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in AVB. CX Institutional raised its position in shares of AvalonBay Communities by 85.5% during the third quarter. CX Institutional now owns 115 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 53 shares during the last quarter. CSat Investment Advisory L.P. raised its position in shares of AvalonBay Communities by 370.4% during the second quarter. CSat Investment Advisory L.P. now owns 254 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 200 shares during the last quarter. KCS Wealth Advisory bought a new stake in shares of AvalonBay Communities during the third quarter valued at approximately $67,000. Evoke Wealth LLC bought a new stake in shares of AvalonBay Communities during the third quarter valued at approximately $69,000. Finally, FNY Investment Advisers LLC raised its position in shares of AvalonBay Communities by 179.7% during the third quarter. FNY Investment Advisers LLC now owns 386 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 248 shares during the last quarter. Hedge funds and other institutional investors own 92.38% of the company’s stock.
Shares of AVB opened at $211.90 on Thursday. The company’s fifty day moving average is $210.34 and its 200 day moving average is $211.25. AvalonBay Communities Inc has a fifty-two week low of $178.28 and a fifty-two week high of $222.87. The stock has a market capitalization of $29.26 billion, a PE ratio of 23.54, a P/E/G ratio of 3.45 and a beta of 0.45. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.89 and a current ratio of 0.89.
AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.80. AvalonBay Communities had a net margin of 45.56% and a return on equity of 9.35%. The company had revenue of $587.61 million for the quarter, compared to analysts’ expectations of $585.86 million. During the same quarter in the previous year, the business posted $1.39 earnings per share. As a group, research analysts forecast that AvalonBay Communities Inc will post 9.31 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.52 per share. This represents a $6.08 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Monday, December 30th. AvalonBay Communities’s payout ratio is 67.56%.
Several research firms have recently issued reports on AVB. Deutsche Bank lifted their price objective on shares of AvalonBay Communities from $218.00 to $221.00 and gave the company a “hold” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and set a $230.00 price target on the stock in a research report on Wednesday, December 18th. SunTrust Banks boosted their price target on shares of AvalonBay Communities from $218.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Goldman Sachs Group began coverage on shares of AvalonBay Communities in a research report on Friday, November 8th. They issued a “buy” rating and a $244.00 price target on the stock. Finally, Mizuho upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $230.00 price target on the stock in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $225.27.
In other AvalonBay Communities news, CEO Timothy J. Naughton sold 26,634 shares of AvalonBay Communities stock in a transaction on Friday, November 15th. The shares were sold at an average price of $213.60, for a total transaction of $5,689,022.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Sean J. Breslin sold 777 shares of AvalonBay Communities stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $213.51, for a total transaction of $165,897.27. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.
AvalonBay Communities Company Profile
As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine 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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