Forsta AP Fonden Has $12.43 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Key Points

• Forsta AP Fonden increased its holdings in AvalonBay Communities by 20.1%, owning 57,900 shares valued at approximately $12.4 million at the end of the most recent reporting period.
• Several hedge funds, including Vanguard Group and Price T Rowe Associates, also raised their positions in AvalonBay, reflecting a growing institutional interest in the company.
• AvalonBay recently announced a quarterly dividend of $1.75, resulting in an annualized yield of 3.7%, with a dividend payout ratio of 86.21%.

Forsta AP Fonden boosted its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 20.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,900 shares of the real estate investment trust's stock after acquiring an additional 9,700 shares during the period. Forsta AP Fonden's holdings in AvalonBay Communities were worth $12,426,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of AvalonBay Communities by 0.4% during the first quarter. Vanguard Group Inc. now owns 22,672,682 shares of the real estate investment trust's stock worth $4,866,011,000 after purchasing an additional 96,790 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of AvalonBay Communities by 35.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust's stock worth $1,133,328,000 after buying an additional 1,336,698 shares during the period. Cohen & Steers Inc. boosted its stake in shares of AvalonBay Communities by 25.7% during the fourth quarter. Cohen & Steers Inc. now owns 3,130,108 shares of the real estate investment trust's stock worth $688,527,000 after buying an additional 639,402 shares during the period. Northern Trust Corp grew its holdings in AvalonBay Communities by 54.8% during the 4th quarter. Northern Trust Corp now owns 2,642,743 shares of the real estate investment trust's stock valued at $581,324,000 after buying an additional 935,770 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of AvalonBay Communities by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,285,889 shares of the real estate investment trust's stock worth $490,598,000 after purchasing an additional 19,188 shares during the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Up 1.2%

NYSE:AVB traded up $2.18 during trading hours on Wednesday, reaching $189.11. The company's stock had a trading volume of 363,172 shares, compared to its average volume of 815,094. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $26.93 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 2.65 and a beta of 0.86. AvalonBay Communities, Inc. has a one year low of $180.40 and a one year high of $239.29. The business's 50-day moving average is $200.46 and its 200-day moving average is $206.94.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.82 EPS for the quarter, beating the consensus estimate of $2.80 by $0.02. AvalonBay Communities had a net margin of 38.91% and a return on equity of 9.70%. The business had revenue of $689.90 million for the quarter, compared to analysts' expectations of $759.08 million. During the same period in the prior year, the firm earned $2.77 earnings per share. Equities research analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders 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 3.7%. The ex-dividend date of this dividend was Monday, June 30th. AvalonBay Communities's payout ratio is currently 86.21%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AVB shares. Barclays decreased their price objective on AvalonBay Communities from $241.00 to $228.00 and set an "equal weight" rating on the stock in a report on Tuesday. UBS Group reduced their target price on AvalonBay Communities from $238.00 to $216.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Morgan Stanley upgraded AvalonBay Communities from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $228.00 to $225.00 in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating on the stock in a report on Tuesday, June 17th. Finally, Evercore ISI reduced their target price on AvalonBay Communities from $216.00 to $212.00 and set an "in-line" rating on the stock in a report on Tuesday. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, AvalonBay Communities presently has an average rating of "Hold" and an average target price of $227.36.

Insiders Place Their Bets

In other AvalonBay Communities news, EVP Edward M. Schulman sold 5,945 shares of AvalonBay Communities stock in a transaction on Friday, June 13th. The shares were sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the completion of the sale, the executive vice president owned 17,617 shares of the company's stock, valued at approximately $3,623,288.39. The trade was 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 AvalonBay Communities stock in a transaction on Monday, June 16th. The stock was sold at an average price of $207.57, for a total transaction of $1,245,420.00. Following the sale, the chief financial officer directly owned 22,782 shares of the company's stock, valued at $4,728,859.74. This represents a 20.85% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

AvalonBay Communities Profile

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.