Allianz Asset Management GmbH Has $39.45 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Allianz Asset Management GmbH lowered its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 4.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 183,821 shares of the real estate investment trust's stock after selling 9,109 shares during the period. Allianz Asset Management GmbH owned 0.13% of AvalonBay Communities worth $39,452,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wealth Alliance LLC raised its holdings in shares of AvalonBay Communities by 7.4% during the first quarter. Wealth Alliance LLC now owns 1,631 shares of the real estate investment trust's stock valued at $350,000 after purchasing an additional 112 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of AvalonBay Communities by 2.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 10,869 shares of the real estate investment trust's stock valued at $2,333,000 after acquiring an additional 283 shares during the period. Retirement Planning Co of New England Inc. bought a new position in AvalonBay Communities in the 1st quarter valued at $513,000. Victory Capital Management Inc. boosted its holdings in AvalonBay Communities by 0.5% in the 1st quarter. Victory Capital Management Inc. now owns 151,538 shares of the real estate investment trust's stock valued at $32,523,000 after purchasing an additional 734 shares during the period. Finally, Tectonic Advisors LLC raised its position in shares of AvalonBay Communities by 3.9% during the 1st quarter. Tectonic Advisors LLC now owns 2,122 shares of the real estate investment trust's stock valued at $456,000 after buying an additional 80 shares in the last quarter. Institutional investors own 92.61% of the company's stock.

AvalonBay Communities Stock Performance

AVB stock traded down $1.80 during trading on Thursday, hitting $201.59. 495,397 shares of the company's stock traded hands, compared to its average volume of 743,955. The stock has a market capitalization of $28.70 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 2.73 and a beta of 0.85. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.70. The stock has a fifty day moving average price of $204.00 and a two-hundred day moving average price of $209.24.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, topping the consensus estimate of $2.80 by $0.03. The business had revenue of $693.43 million during the quarter, compared to analysts' expectations of $744.61 million. AvalonBay Communities had a return on equity of 9.65% and a net margin of 38.86%. During the same quarter last year, the firm posted $2.70 earnings per share. As a group, equities analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Monday, June 30th. AvalonBay Communities's dividend payout ratio is currently 87.17%.

Insider Buying and Selling

In related news, EVP Edward M. Schulman sold 5,945 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $205.67, for a total value of $1,222,708.15. Following the sale, the executive vice president owned 17,617 shares in the company, valued at approximately $3,623,288.39. This represents a 25.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin P. O'shea sold 6,000 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $207.57, for a total value of $1,245,420.00. Following the transaction, the chief financial officer owned 22,782 shares in the company, valued at $4,728,859.74. The trade was a 20.85% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company's stock.

Analysts Set New Price Targets

AVB has been the topic of a number of research reports. Royal Bank Of Canada cut their target price on shares of AvalonBay Communities from $223.00 to $220.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. BMO Capital Markets lowered shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 target price for the company. in a research report on Friday, April 4th. Morgan Stanley raised their target price on shares of AvalonBay Communities from $226.00 to $228.00 and gave the stock an "equal weight" rating in a report on Thursday, May 15th. Mizuho cut their target price on shares of AvalonBay Communities from $238.00 to $213.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. Finally, Scotiabank dropped their target price on shares of AvalonBay Communities from $251.00 to $236.00 and set a "sector perform" rating on the stock in a research report on Friday, June 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $235.07.

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.