Rhumbline Advisers Purchases 13,655 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Rhumbline Advisers increased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 4.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 299,097 shares of the real estate investment trust's stock after acquiring an additional 13,655 shares during the period. Rhumbline Advisers owned about 0.21% of AvalonBay Communities worth $64,192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC increased its stake in shares of AvalonBay Communities by 4.0% in the 4th quarter. Signaturefd LLC now owns 1,616 shares of the real estate investment trust's stock valued at $356,000 after purchasing an additional 62 shares during the last quarter. Private Advisor Group LLC boosted its stake in AvalonBay Communities by 2.6% in the fourth quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust's stock valued at $553,000 after buying an additional 63 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in AvalonBay Communities by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,179 shares of the real estate investment trust's stock valued at $2,679,000 after buying an additional 69 shares in the last quarter. Greenleaf Trust grew its position in AvalonBay Communities by 2.4% in the fourth quarter. Greenleaf Trust now owns 3,028 shares of the real estate investment trust's stock valued at $666,000 after acquiring an additional 70 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in AvalonBay Communities by 0.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,953 shares of the real estate investment trust's stock worth $5,929,000 after acquiring an additional 72 shares in the last quarter. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Stock Down 0.9%

AvalonBay Communities stock traded down $1.85 during trading on Thursday, hitting $202.76. 875,285 shares of the company were exchanged, compared to its average volume of 718,018. The company has a market capitalization of $28.87 billion, a P/E ratio of 26.71, a PEG ratio of 3.11 and a beta of 0.86. The business's 50 day moving average is $203.72 and its 200 day moving average is $214.70. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.80 by $0.03. AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. The business had revenue of $693.43 million during the quarter, compared to the consensus estimate of $744.61 million. During the same period in the prior year, the firm posted $2.70 EPS. Analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $1.75 dividend. The ex-dividend date is Monday, June 30th. This represents a $7.00 dividend on an annualized basis and a yield of 3.45%. AvalonBay Communities's dividend payout ratio (DPR) is presently 87.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Barclays raised their price objective on AvalonBay Communities from $227.00 to $240.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Royal Bank of Canada cut their price target on 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. Evercore ISI boosted their price target on AvalonBay Communities from $230.00 to $240.00 and gave the stock an "in-line" rating in a report on Monday, February 10th. BMO Capital Markets lowered shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price objective for the company. in a report on Friday, April 4th. Finally, Morgan Stanley boosted 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $237.86.

AvalonBay Communities Company 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.