TLP Group LLC reduced its stake in shares of AvalonBay Communities Inc (NYSE:AVB) by 49.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 368 shares of the real estate investment trust’s stock after selling 367 shares during the quarter. AvalonBay Communities makes up 0.2% of TLP Group LLC’s holdings, making the stock its 28th largest position. TLP Group LLC’s holdings in AvalonBay Communities were worth $61,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Financial Advisors Inc. lifted its stake in shares of AvalonBay Communities by 54.0% during the 4th quarter. Legacy Financial Advisors Inc. now owns 174 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 61 shares during the last quarter. CNB Bank purchased a new stake in shares of AvalonBay Communities during the 4th quarter worth $41,000. Lindbrook Capital LLC purchased a new stake in shares of AvalonBay Communities during the 4th quarter worth $53,000. Rehmann Capital Advisory Group lifted its stake in shares of AvalonBay Communities by 24.4% during the 4th quarter. Rehmann Capital Advisory Group now owns 306 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 60 shares during the last quarter. Finally, Sandy Spring Bank purchased a new stake in shares of AvalonBay Communities during the 4th quarter worth $55,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.
A number of equities research analysts recently weighed in on AVB shares. ValuEngine upgraded AvalonBay Communities from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Argus upped their price objective on AvalonBay Communities from $196.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, November 21st. BTIG Research upgraded AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $216.00 price objective for the company in a research note on Thursday, December 6th. Morgan Stanley upped their price objective on AvalonBay Communities from $168.00 to $194.00 and gave the stock an “equal weight” rating in a research note on Monday, December 17th. Finally, Zacks Investment Research upgraded AvalonBay Communities from a “hold” rating to a “buy” rating and set a $200.00 price objective for the company in a research note on Tuesday, January 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $197.33.
AvalonBay Communities stock opened at $198.97 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.63 and a quick ratio of 0.63. AvalonBay Communities Inc has a one year low of $156.40 and a one year high of $200.40. The stock has a market capitalization of $27.56 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 3.80 and a beta of 0.60.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, February 4th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). AvalonBay Communities had a net margin of 42.66% and a return on equity of 9.33%. The business had revenue of $578.52 million during the quarter, compared to analysts’ expectations of $576.56 million. During the same quarter last year, the business posted $1.72 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts predict that AvalonBay Communities Inc will post 9.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a $1.52 dividend. The ex-dividend date is Thursday, March 28th. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.47. This represents a $6.08 dividend on an annualized basis and a yield of 3.06%. AvalonBay Communities’s dividend payout ratio (DPR) is 65.33%.
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About AvalonBay Communities
As of December 31, 2018, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,158 apartment homes in 12 states and the District of Columbia, of which 21 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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