Calamos Advisors LLC cut its position in AvalonBay Communities Inc (NYSE:AVB) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,246 shares of the real estate investment trust’s stock after selling 795 shares during the quarter. Calamos Advisors LLC’s holdings in AvalonBay Communities were worth $10,327,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. CX Institutional raised its holdings in AvalonBay Communities by 85.5% in the third quarter. CX Institutional now owns 115 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 53 shares in the last quarter. CSat Investment Advisory L.P. increased its holdings 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 acquiring an additional 200 shares in the last quarter. KCS Wealth Advisory acquired a new position in shares of AvalonBay Communities during the third quarter valued at about $67,000. Evoke Wealth LLC acquired a new position in shares of AvalonBay Communities during the third quarter valued at about $69,000. Finally, FNY Investment Advisers LLC increased its holdings 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 acquiring an additional 248 shares in the last quarter. Institutional investors and hedge funds own 92.38% of the company’s stock.
Shares of NYSE AVB opened at $211.90 on Thursday. The business’s 50 day moving average price is $210.34 and its 200 day moving average price is $211.25. The firm has a market cap of $29.26 billion, a P/E ratio of 23.54, a P/E/G ratio of 3.45 and a beta of 0.45. AvalonBay Communities Inc has a 52 week low of $178.28 and a 52 week high of $222.87. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.69.
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 the Zacks’ consensus estimate of $1.20 by $0.80. The firm had revenue of $587.61 million for 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 quarter in the prior year, the firm earned $1.39 earnings per share. As a group, research analysts expect that AvalonBay Communities Inc will post 9.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $1.52 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $6.08 dividend on an annualized basis and a yield of 2.87%. AvalonBay Communities’s dividend payout ratio is currently 67.56%.
In related news, COO Sean J. Breslin sold 777 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $213.51, for a total value of $165,897.27. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Timothy J. Naughton sold 26,634 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $213.60, for a total value of $5,689,022.40. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.
Several equities analysts have recently issued reports on AVB shares. Mizuho upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $230.00 price objective on the stock in a report on Wednesday. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and set a $230.00 price objective on the stock in a report on Wednesday, December 18th. Goldman Sachs Group started coverage on shares of AvalonBay Communities in a report on Friday, November 8th. They set a “buy” rating and a $244.00 price objective on the stock. Barclays restated a “hold” rating and set a $240.00 price objective on shares of AvalonBay Communities in a report on Sunday, October 13th. Finally, SunTrust Banks upped their price objective on shares of AvalonBay Communities from $218.00 to $226.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. AvalonBay Communities currently has an average rating of “Buy” and a consensus target price of $225.27.
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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