Dupont Capital Management Corp Has $5.68 Million Stake in AvalonBay Communities Inc (AVB)

Dupont Capital Management Corp increased its holdings in shares of AvalonBay Communities Inc (NYSE:AVB) by 11.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,375 shares of the real estate investment trust’s stock after buying an additional 3,152 shares during the quarter. Dupont Capital Management Corp’s holdings in AvalonBay Communities were worth $5,684,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. State Treasurer State of Michigan lifted its position in shares of AvalonBay Communities by 0.7% during the 2nd quarter. State Treasurer State of Michigan now owns 40,923 shares of the real estate investment trust’s stock worth $7,034,000 after buying an additional 300 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of AvalonBay Communities by 2.1% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 15,099 shares of the real estate investment trust’s stock worth $2,595,000 after buying an additional 316 shares during the last quarter. Comerica Bank lifted its position in shares of AvalonBay Communities by 0.4% during the 2nd quarter. Comerica Bank now owns 89,036 shares of the real estate investment trust’s stock worth $15,258,000 after buying an additional 354 shares during the last quarter. Sumitomo Life Insurance Co. lifted its position in shares of AvalonBay Communities by 4.5% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 8,605 shares of the real estate investment trust’s stock worth $1,479,000 after buying an additional 369 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its position in shares of AvalonBay Communities by 30.3% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 1,594 shares of the real estate investment trust’s stock worth $274,000 after buying an additional 371 shares during the last quarter. Institutional investors and hedge funds own 93.49% of the company’s stock.

In other news, COO Sean J. Breslin sold 7,200 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $182.20, for a total transaction of $1,311,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin P. O’shea sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $179.51, for a total value of $269,265.00. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.

AvalonBay Communities stock opened at $182.53 on Friday. The company has a quick ratio of 1.04, a current ratio of 0.77 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $25.20 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 2.76 and a beta of 0.38. AvalonBay Communities Inc has a 12 month low of $152.65 and a 12 month high of $188.91.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, October 29th. The real estate investment trust reported $1.39 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.87). AvalonBay Communities had a net margin of 36.54% and a return on equity of 7.96%. The firm had revenue of $575.98 million during the quarter, compared to the consensus estimate of $573.87 million. During the same quarter in the prior year, the business posted $1.72 earnings per share. AvalonBay Communities’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts anticipate that AvalonBay Communities Inc will post 9 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.22%. AvalonBay Communities’s dividend payout ratio (DPR) is 68.21%.

Several analysts recently weighed in on the company. ValuEngine upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Robert W. Baird downgraded AvalonBay Communities from an “outperform” rating to a “neutral” rating and set a $197.00 price objective for the company. in a research report on Wednesday, August 15th. Deutsche Bank upped their price objective on AvalonBay Communities from $186.00 to $192.00 and gave the stock a “hold” rating in a research report on Wednesday, September 5th. Stifel Nicolaus increased their target price on AvalonBay Communities from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. Finally, Mizuho reiterated a “buy” rating and issued a $212.00 target price on shares of AvalonBay Communities in a research report on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company’s stock. AvalonBay Communities currently has a consensus rating of “Hold” and an average price target of $192.44.

ILLEGAL ACTIVITY WARNING: This news story was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another domain, it was copied illegally and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.americanbankingnews.com/2018/11/10/dupont-capital-management-corp-has-5-68-million-stake-in-avalonbay-communities-inc-avb.html.

About AvalonBay Communities

As of June 30, 2018, the Company owned or held a direct or indirect ownership interest in 287 apartment communities containing 84,043 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 16 communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

Further Reading: How does inflation affect different investments?

Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

Receive News & Ratings for AvalonBay Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply