Dimensional Fund Advisors LP Purchases 26,736 Shares of AvalonBay Communities, Inc. $AVB

Key Points

• Dimensional Fund Advisors boosted its stake in AvalonBay by purchasing 26,736 shares in the quarter, bringing its holding to 2,075,371 shares (about 1.46% of the company) valued at $400.9 million.
• AvalonBay raised its quarterly dividend to $1.78 (annualized $7.12) for a yield of 4.0%, up from $1.75, with a record date of March 31 and payable April 15; the dividend payout ratio is 85.47%.
• The company slightly beat the latest quarter's EPS estimate ($2.85 vs. $2.84) and reported revenue roughly in line with estimates, while analysts' consensus rating is a "Hold" with a target price of $200.59.

Dimensional Fund Advisors LP boosted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,075,371 shares of the real estate investment trust's stock after purchasing an additional 26,736 shares during the period. Dimensional Fund Advisors LP owned about 1.46% of AvalonBay Communities worth $400,901,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. PFG Investments LLC boosted its position in AvalonBay Communities by 4.4% in the third quarter. PFG Investments LLC now owns 1,456 shares of the real estate investment trust's stock valued at $281,000 after buying an additional 61 shares in the last quarter. Clearstead Trust LLC boosted its stake in shares of AvalonBay Communities by 62.0% in the 2nd quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 62 shares during the last quarter. Global Retirement Partners LLC boosted its position in AvalonBay Communities by 13.3% during the third quarter. Global Retirement Partners LLC now owns 564 shares of the real estate investment trust's stock valued at $109,000 after acquiring an additional 66 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of AvalonBay Communities by 0.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 8,126 shares of the real estate investment trust's stock valued at $1,654,000 after purchasing an additional 76 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of AvalonBay Communities by 1.5% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,779 shares of the real estate investment trust's stock worth $1,116,000 after buying an additional 84 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Trading Up 0.4%

Shares of AVB stock opened at $178.07 on Thursday. The company has a market capitalization of $24.94 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 3.11 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.67 and a current ratio of 0.77. The business's fifty day moving average is $178.43 and its 200 day moving average is $182.97. AvalonBay Communities, Inc. has a 52-week low of $166.73 and a 52-week high of $225.15.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The real estate investment trust reported $2.85 EPS for the quarter, topping the consensus estimate of $2.84 by $0.01. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.The company had revenue of $767.86 million during the quarter, compared to analyst estimates of $766.38 million. During the same quarter in the previous year, the firm earned $2.80 earnings per share. On average, equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 4.0%. This is an increase from AvalonBay Communities's previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Tuesday, March 31st. AvalonBay Communities's dividend payout ratio is presently 85.47%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AVB. Weiss Ratings restated a "hold (c)" rating on shares of AvalonBay Communities in a research note on Friday, January 9th. Royal Bank Of Canada reduced their target price on shares of AvalonBay Communities from $191.00 to $187.00 and set a "sector perform" rating for the company in a research note on Friday, February 6th. Scotiabank decreased their price target on AvalonBay Communities from $193.00 to $190.00 and set a "sector perform" rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft downgraded shares of AvalonBay Communities from a "buy" rating to a "hold" rating and set a $172.00 price objective for the company. in a report on Tuesday, January 20th. Finally, Barclays boosted their target price on AvalonBay Communities from $216.00 to $217.00 and gave the company an "overweight" rating in a research note on Tuesday, January 13th. Five research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $200.59.

AvalonBay Communities Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.