Worldquant Millennium Quantitative Strategies LLC bought a new stake in AvalonBay Communities Inc (NYSE:AVB) during the second quarter, HoldingsChannel reports. The firm bought 4,357 shares of the real estate investment trust’s stock, valued at approximately $749,000.

Several other institutional investors also recently modified their holdings of AVB. MetLife Investment Advisors LLC acquired a new stake in AvalonBay Communities during the second quarter worth about $6,994,000. Tower Research Capital LLC TRC acquired a new stake in AvalonBay Communities during the second quarter worth about $3,175,000. Vident Investment Advisory LLC raised its stake in AvalonBay Communities by 195.4% during the second quarter. Vident Investment Advisory LLC now owns 11,330 shares of the real estate investment trust’s stock worth $1,947,000 after acquiring an additional 7,494 shares during the period. Paloma Partners Management Co raised its stake in AvalonBay Communities by 926.6% during the second quarter. Paloma Partners Management Co now owns 28,744 shares of the real estate investment trust’s stock worth $4,941,000 after acquiring an additional 25,944 shares during the period. Finally, Macquarie Group Ltd. raised its stake in AvalonBay Communities by 1.7% during the second quarter. Macquarie Group Ltd. now owns 203,735 shares of the real estate investment trust’s stock worth $35,020,000 after acquiring an additional 3,425 shares during the period. Institutional investors and hedge funds own 93.12% of the company’s stock.

In other AvalonBay Communities news, CFO Kevin P. O’shea sold 2,000 shares of the stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $179.85, for a total value of $359,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Sean J. Breslin sold 7,200 shares of the stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $182.20, for a total transaction of $1,311,840.00. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.

AvalonBay Communities stock opened at $184.73 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $25.33 billion, a PE ratio of 21.43, a P/E/G ratio of 2.68 and a beta of 0.33. AvalonBay Communities Inc has a 12-month low of $152.65 and a 12-month high of $188.91.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.36). The company had revenue of $569.24 million during the quarter, compared to the consensus estimate of $565.41 million. AvalonBay Communities had a net margin of 39.01% and a return on equity of 8.42%. During the same quarter last year, the business earned $2.09 earnings per share. sell-side analysts anticipate that AvalonBay Communities Inc will post 8.99 EPS for the current fiscal year.

AVB has been the topic of several research reports. BTIG Research lowered shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $208.00 price objective on the stock. in a research note on Thursday, May 31st. Bank of America increased their price objective on shares of AvalonBay Communities from $197.00 to $198.00 and gave the stock a “hold” rating in a research note on Friday, June 8th. Morgan Stanley dropped their price objective on shares of AvalonBay Communities from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 14th. ValuEngine upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Stifel Nicolaus increased their price objective on shares of AvalonBay Communities from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $192.50.

AvalonBay Communities Company Profile

As of June 30, 2018, the Company owned or held a direct or indirect ownership interest in 287 apartment communities containing 84,043 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 16 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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