B&I Capital AG Acquires New Position in AvalonBay Communities, Inc. $AVB

Key Points

• B&I Capital AG opened a new position in AvalonBay Communities, buying 68,530 shares valued at about $11.2 million. The REIT now makes up 3.8% of the firm’s portfolio and is its 11th-largest holding.
• AvalonBay’s latest earnings missed analyst expectations, with Q2 EPS of $2.33 versus the $2.80 consensus, though revenue came in roughly in line at $770.3 million. Analysts still project full-year EPS of 11.28.
• The company recently paid a quarterly dividend of $1.78 per share, equal to an annualized yield of 3.6%. However, the dividend payout ratio is currently above 100% at 103.19%.

B&I Capital AG acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 68,530 shares of the real estate investment trust's stock, valued at approximately $11,194,000. AvalonBay Communities comprises 3.8% of B&I Capital AG's investment portfolio, making the stock its 11th largest holding.

A number of other institutional investors also recently bought and sold shares of the company. Pensionfund PDN acquired a new stake in AvalonBay Communities during the fourth quarter worth $3,648,000. Nordea Investment Management AB lifted its stake in shares of AvalonBay Communities by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 444,222 shares of the real estate investment trust's stock valued at $80,449,000 after purchasing an additional 17,352 shares during the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at $26,237,000. CIBC Bancorp USA Inc. purchased a new position in shares of AvalonBay Communities during the 3rd quarter worth $11,058,000. Finally, Principal Financial Group Inc. grew its holdings in shares of AvalonBay Communities by 9.3% during the 4th quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust's stock worth $815,360,000 after purchasing an additional 383,983 shares during the period. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Price Performance

AVB opened at $195.21 on Friday. The stock's 50-day moving average price is $186.76 and its 200 day moving average price is $179.05. AvalonBay Communities, Inc. has a 12-month low of $160.10 and a 12-month high of $205.00. The firm has a market cap of $27.73 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 3.32 and a beta of 0.77. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.80.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.80 by ($0.47). The business had revenue of $770.28 million for the quarter, compared to analysts' expectations of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same quarter last year, the company earned $2.83 earnings per share. As a group, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, June 30th. AvalonBay Communities's dividend payout ratio (DPR) is currently 103.19%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AVB shares. Cantor Fitzgerald raised their price objective on AvalonBay Communities from $186.00 to $190.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. Wells Fargo & Company decreased their target price on shares of AvalonBay Communities from $193.00 to $191.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AvalonBay Communities in a research note on Monday, July 6th. Wolfe Research upgraded shares of AvalonBay Communities from an "outperform" rating to an "outperform" rating and set a $209.00 price target for the company in a research report on Monday, June 1st. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $203.00 price target (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. Three equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, AvalonBay Communities currently has a consensus rating of "Hold" and a consensus price target of $195.80.

AvalonBay Communities Profile

AvalonBay Communities, Inc NYSE: AVB is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay's core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay's operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.

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