Avanza Fonder AB Makes New Investment in AvalonBay Communities, Inc. (NYSE:AVB)

Avanza Fonder AB acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,998 shares of the real estate investment trust's stock, valued at approximately $2,419,000.

Several other hedge funds also recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new position in shares of AvalonBay Communities in the third quarter valued at about $26,000. Brooklyn Investment Group bought a new position in shares of AvalonBay Communities in the third quarter worth about $39,000. Mather Group LLC. lifted its position in shares of AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 56 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of AvalonBay Communities during the third quarter valued at approximately $51,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of AvalonBay Communities by 368.3% in the second quarter. EverSource Wealth Advisors LLC now owns 576 shares of the real estate investment trust's stock valued at $118,000 after purchasing an additional 453 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

AvalonBay Communities Trading Up 0.1 %

AvalonBay Communities stock traded up $0.31 during mid-day trading on Friday, hitting $218.21. 553,916 shares of the company's stock were exchanged, compared to its average volume of 517,710. The company's 50 day simple moving average is $224.47 and its 200-day simple moving average is $220.67. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $31.04 billion, a P/E ratio of 29.85, a PEG ratio of 2.94 and a beta of 0.99. AvalonBay Communities, Inc. has a fifty-two week low of $169.37 and a fifty-two week high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing analysts' consensus estimates of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The business had revenue of $734.31 million for the quarter, compared to analyst estimates of $731.67 million. During the same period in the prior year, the business earned $2.66 EPS. On average, equities analysts anticipate that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Tuesday, December 31st. AvalonBay Communities's dividend payout ratio is 93.02%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Mizuho raised AvalonBay Communities from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $239.00 to $242.00 in a report on Monday, January 6th. Scotiabank cut their price target on AvalonBay Communities from $244.00 to $241.00 and set a "sector perform" rating on the stock in a research note on Thursday, November 14th. Barclays assumed coverage on AvalonBay Communities in a report on Tuesday, December 17th. They issued an "equal weight" rating and a $243.00 price target on the stock. Royal Bank of Canada dropped their price objective on AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating for the company in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised shares of AvalonBay Communities from a "neutral" rating to an "overweight" rating and raised their target price for the company from $247.00 to $262.00 in a research note on Tuesday, December 17th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $234.53.

Insider Buying and Selling

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $233.78, for a total transaction of $528,576.58. Following the completion of the transaction, the director now owns 111,436 shares in the company, valued at approximately $26,051,508.08. This represents a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is currently owned by company insiders.

About AvalonBay Communities

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: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.