Old Mutual Global Investors UK Ltd. Acquires 228,686 Shares of AvalonBay Communities Inc (AVB)
Old Mutual Global Investors UK Ltd. raised its holdings in AvalonBay Communities Inc (NYSE:AVB) by 45.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 732,776 shares of the real estate investment trust’s stock after purchasing an additional 228,686 shares during the period. AvalonBay Communities makes up about 1.2% of Old Mutual Global Investors UK Ltd.’s portfolio, making the stock its 29th largest holding. Old Mutual Global Investors UK Ltd.’s holdings in AvalonBay Communities were worth $130,734,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Keeler Thomas Management LLC bought a new stake in AvalonBay Communities in the 4th quarter valued at about $166,000. Ffcm LLC boosted its holdings in AvalonBay Communities by 22.8% in the 4th quarter. Ffcm LLC now owns 19,760 shares of the real estate investment trust’s stock valued at $3,525,000 after purchasing an additional 3,672 shares during the period. AEW Capital Management L P boosted its holdings in AvalonBay Communities by 2.3% in the 4th quarter. AEW Capital Management L P now owns 1,241,950 shares of the real estate investment trust’s stock valued at $221,576,000 after purchasing an additional 27,491 shares during the period. NuWave Investment Management LLC bought a new stake in AvalonBay Communities in the 4th quarter valued at about $181,000. Finally, LS Investment Advisors LLC boosted its holdings in AvalonBay Communities by 10.3% in the 4th quarter. LS Investment Advisors LLC now owns 10,634 shares of the real estate investment trust’s stock valued at $1,897,000 after purchasing an additional 995 shares during the period. 95.21% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on AVB shares. Royal Bank of Canada cut their price target on shares of AvalonBay Communities from $206.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, November 6th. Mizuho reaffirmed a “buy” rating and set a $220.00 price target on shares of AvalonBay Communities in a report on Monday, November 6th. Stifel Nicolaus cut their price target on shares of AvalonBay Communities from $209.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. UBS Group raised shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and upped their price target for the stock from $190.00 to $206.00 in a report on Thursday, November 9th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $187.00 price target on shares of AvalonBay Communities in a report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $194.18.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $2.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $1.03. The business had revenue of $555.29 million during the quarter, compared to the consensus estimate of $554.20 million. AvalonBay Communities had a net margin of 40.62% and a return on equity of 8.57%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.12 EPS. equities analysts expect that AvalonBay Communities Inc will post 9.02 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be paid a $1.47 dividend. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.42. The ex-dividend date is Wednesday, March 28th. This represents a $5.88 annualized dividend and a yield of 3.70%. AvalonBay Communities’s dividend payout ratio is presently 89.31%.
In related news, CEO Timothy J. Naughton sold 25,160 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $183.84, for a total value of $4,625,414.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $181.89, for a total transaction of $363,780.00. The disclosure for this sale can be found here. In the last three months, insiders sold 30,660 shares of company stock valued at $5,628,669. 0.46% of the stock is owned by insiders.
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AvalonBay Communities Company 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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