AvalonBay Communities Inc (AVB) Shares Bought by American Century Companies Inc.
American Century Companies Inc. raised its position in shares of AvalonBay Communities Inc (NYSE:AVB) by 367.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 308,596 shares of the real estate investment trust’s stock after acquiring an additional 242,612 shares during the quarter. American Century Companies Inc.’s holdings in AvalonBay Communities were worth $55,057,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of AVB. Stifel Financial Corp boosted its position in AvalonBay Communities by 75.8% during the second quarter. Stifel Financial Corp now owns 10,875 shares of the real estate investment trust’s stock valued at $2,090,000 after acquiring an additional 4,690 shares during the last quarter. Janus Henderson Group PLC boosted its position in AvalonBay Communities by 170.4% during the second quarter. Janus Henderson Group PLC now owns 250,601 shares of the real estate investment trust’s stock valued at $48,161,000 after acquiring an additional 157,907 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in AvalonBay Communities during the second quarter valued at $226,000. The Manufacturers Life Insurance Company boosted its position in AvalonBay Communities by 3.1% during the second quarter. The Manufacturers Life Insurance Company now owns 144,567 shares of the real estate investment trust’s stock valued at $27,782,000 after acquiring an additional 4,380 shares during the last quarter. Finally, Koch Industries Inc. bought a new stake in AvalonBay Communities during the second quarter valued at $365,000. 95.24% of the stock is currently owned by institutional investors and hedge funds.
Shares of AvalonBay Communities Inc (AVB) opened at $159.61 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.10 and a quick ratio of 0.10. AvalonBay Communities Inc has a fifty-two week low of $154.82 and a fifty-two week high of $199.52. The firm has a market cap of $22,040.00, a PE ratio of 25.14, a P/E/G ratio of 2.41 and a beta of 0.34.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Wednesday, March 28th. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.42. AvalonBay Communities’s dividend payout ratio is currently 89.45%.
In related news, CEO Timothy J. Naughton sold 25,160 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $183.84, for a total value of $4,625,414.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Leo S. Horey III sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $182.75, for a total transaction of $365,500.00. The disclosure for this sale can be found here. Insiders sold a total of 30,660 shares of company stock worth $5,628,669 in the last 90 days. 0.46% of the stock is currently owned by company insiders.
AVB has been the topic of a number of research analyst reports. SunTrust Banks set a $194.00 price target on shares of AvalonBay Communities and gave the company a “buy” rating in a research report on Monday, January 22nd. Stifel Nicolaus reissued a “buy” rating and set a $185.00 price objective on shares of AvalonBay Communities in a research report on Friday, January 19th. Robert W. Baird reissued a “buy” rating and set a $187.00 price objective on shares of AvalonBay Communities in a research report on Tuesday, January 9th. UBS Group raised shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $190.00 to $206.00 in a research report on Thursday, November 9th. Finally, Mizuho reissued a “buy” rating and set a $220.00 price objective on shares of AvalonBay Communities in a research report on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $195.35.
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AvalonBay Communities Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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