CIBC Asset Management Inc Buys 1,611 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

CIBC Asset Management Inc boosted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB – Get Rating) by 9.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,779 shares of the real estate investment trust’s stock after acquiring an additional 1,611 shares during the period. CIBC Asset Management Inc’s holdings in AvalonBay Communities were worth $3,459,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of AVB. Price T Rowe Associates Inc. MD grew its position in shares of AvalonBay Communities by 47.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 5,465,899 shares of the real estate investment trust’s stock valued at $1,061,751,000 after purchasing an additional 1,759,576 shares in the last quarter. Principal Financial Group Inc. increased its stake in AvalonBay Communities by 4.8% in the 2nd quarter. Principal Financial Group Inc. now owns 5,043,581 shares of the real estate investment trust’s stock worth $979,715,000 after acquiring an additional 228,867 shares during the last quarter. Wellington Management Group LLP increased its stake in AvalonBay Communities by 57.1% in the 1st quarter. Wellington Management Group LLP now owns 2,140,014 shares of the real estate investment trust’s stock worth $531,516,000 after acquiring an additional 777,631 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of AvalonBay Communities by 6.4% during the 2nd quarter. Legal & General Group Plc now owns 2,128,094 shares of the real estate investment trust’s stock worth $413,382,000 after acquiring an additional 128,518 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of AvalonBay Communities by 7.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,488,955 shares of the real estate investment trust’s stock valued at $289,230,000 after acquiring an additional 98,283 shares during the last quarter. 87.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AVB has been the topic of several research reports. Royal Bank of Canada reduced their price target on shares of AvalonBay Communities from $210.00 to $196.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 8th. The Goldman Sachs Group downgraded shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and lowered their price target for the company from $197.00 to $187.00 in a report on Thursday, December 8th. KeyCorp dropped their price target on AvalonBay Communities from $237.00 to $193.00 and set an “overweight” rating for the company in a research report on Wednesday, December 7th. Deutsche Bank Aktiengesellschaft downgraded AvalonBay Communities from a “buy” rating to a “hold” rating and decreased their price objective for the company from $194.00 to $179.00 in a research report on Wednesday, January 4th. Finally, StockNews.com assumed coverage on AvalonBay Communities in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, AvalonBay Communities presently has a consensus rating of “Hold” and an average price target of $202.78.

AvalonBay Communities Trading Up 1.6 %

NYSE AVB opened at $173.09 on Wednesday. The company’s 50-day moving average price is $167.08 and its 200-day moving average price is $183.35. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.72. AvalonBay Communities, Inc. has a 12 month low of $157.69 and a 12 month high of $259.05. The stock has a market cap of $24.21 billion, a PE ratio of 19.69, a PEG ratio of 3.10 and a beta of 0.88.

AvalonBay Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th were issued a $1.59 dividend. This represents a $6.36 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Thursday, December 29th. AvalonBay Communities’s dividend payout ratio is 72.36%.

AvalonBay Communities Company Profile

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AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.