Daiwa Securities Group Inc. Buys 626 Shares of AvalonBay Communities Inc (NYSE:AVB)

Daiwa Securities Group Inc. boosted its stake in shares of AvalonBay Communities Inc (NYSE:AVB) by 2.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,843 shares of the real estate investment trust’s stock after purchasing an additional 626 shares during the quarter. Daiwa Securities Group Inc.’s holdings in AvalonBay Communities were worth $6,426,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AVB. West Oak Capital LLC boosted its position in shares of AvalonBay Communities by 5.6% in the second quarter. West Oak Capital LLC now owns 945 shares of the real estate investment trust’s stock valued at $192,000 after acquiring an additional 50 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of AvalonBay Communities by 2.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 1,920 shares of the real estate investment trust’s stock valued at $390,000 after acquiring an additional 50 shares during the period. 6 Meridian boosted its position in shares of AvalonBay Communities by 2.0% in the second quarter. 6 Meridian now owns 2,651 shares of the real estate investment trust’s stock valued at $539,000 after acquiring an additional 51 shares during the period. CX Institutional boosted its position in shares of AvalonBay Communities by 85.5% in the third quarter. CX Institutional now owns 115 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 53 shares during the period. Finally, NEXT Financial Group Inc boosted its position in shares of AvalonBay Communities by 16.7% in the second quarter. NEXT Financial Group Inc now owns 426 shares of the real estate investment trust’s stock valued at $87,000 after acquiring an additional 61 shares during the period. 92.53% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE AVB opened at $209.85 on Friday. The business has a fifty day simple moving average of $216.40 and a 200 day simple moving average of $208.66. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $29.42 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 3.66 and a beta of 0.47. AvalonBay Communities Inc has a one year low of $167.01 and a one year high of $222.87.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.80. The business had revenue of $587.61 million during the quarter, compared to analyst estimates of $585.86 million. AvalonBay Communities had a return on equity of 9.35% and a net margin of 45.56%. During the same period in the prior year, the company posted $1.39 earnings per share. On average, research analysts anticipate that AvalonBay Communities Inc will post 9.3 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $1.52 dividend. The ex-dividend date was Friday, September 27th. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.90%. AvalonBay Communities’s payout ratio is 67.56%.

In other AvalonBay Communities news, insider Leo S. Horey III sold 2,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $214.00, for a total transaction of $428,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward M. Schulman sold 1,301 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $213.47, for a total value of $277,724.47. The disclosure for this sale can be found here. Insiders have sold 5,801 shares of company stock valued at $1,243,499 over the last quarter. Corporate insiders own 0.42% of the company’s stock.

Several equities research analysts have recently weighed in on the company. SunTrust Banks increased their price objective on AvalonBay Communities from $211.00 to $218.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. They noted that the move was a valuation call. Morgan Stanley increased their price objective on AvalonBay Communities from $217.00 to $229.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Zelman & Associates upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Barclays restated a “hold” rating and issued a $240.00 target price on shares of AvalonBay Communities in a research note on Sunday, October 13th. Finally, ValuEngine lowered AvalonBay Communities from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. AvalonBay Communities has a consensus rating of “Hold” and an average target price of $219.43.

About AvalonBay Communities

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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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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