AvalonBay Communities, Inc. $AVB Shares Purchased by Carronade Capital Management LP

Carronade Capital Management LP boosted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 5.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,047 shares of the real estate investment trust’s stock after purchasing an additional 2,862 shares during the quarter. AvalonBay Communities makes up approximately 0.7% of Carronade Capital Management LP’s holdings, making the stock its 16th largest holding. Carronade Capital Management LP’s holdings in AvalonBay Communities were worth $10,388,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in AVB. Metis Global Partners LLC raised its stake in AvalonBay Communities by 13.8% during the 2nd quarter. Metis Global Partners LLC now owns 36,980 shares of the real estate investment trust’s stock valued at $7,525,000 after acquiring an additional 4,473 shares in the last quarter. Amundi increased its holdings in shares of AvalonBay Communities by 17.7% during the second quarter. Amundi now owns 449,348 shares of the real estate investment trust’s stock valued at $90,768,000 after purchasing an additional 67,695 shares during the period. Jump Financial LLC bought a new stake in shares of AvalonBay Communities during the first quarter valued at about $526,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in AvalonBay Communities by 1.5% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 723,402 shares of the real estate investment trust’s stock worth $147,212,000 after purchasing an additional 10,929 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in AvalonBay Communities by 2.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 49,878 shares of the real estate investment trust’s stock worth $10,150,000 after purchasing an additional 1,402 shares during the period. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Stock Up 0.4%

Shares of AvalonBay Communities stock opened at $176.77 on Friday. AvalonBay Communities, Inc. has a 12-month low of $166.73 and a 12-month high of $230.23. The firm has a market capitalization of $25.03 billion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 3.21 and a beta of 0.74. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.72. The stock’s fifty day moving average is $180.92 and its 200-day moving average is $191.74.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). The company had revenue of $766.80 million during the quarter, compared to analysts’ expectations of $766.22 million. AvalonBay Communities had a return on equity of 9.72% and a net margin of 38.78%.During the same period in the prior year, the business posted $2.74 EPS. Equities analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, December 31st. AvalonBay Communities’s dividend payout ratio is 85.47%.

Analyst Ratings Changes

A number of analysts have commented on AVB shares. Morgan Stanley dropped their price target on shares of AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. UBS Group dropped their target price on AvalonBay Communities from $216.00 to $192.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. BNP Paribas Exane downgraded AvalonBay Communities from an “outperform” rating to a “neutral” rating in a research report on Monday, September 29th. Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Colliers Securities reissued a “neutral” rating and issued a $195.00 price objective (down previously from $200.00) on shares of AvalonBay Communities in a research note on Thursday, December 4th. Six research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, AvalonBay Communities currently has an average rating of “Hold” and a consensus target price of $205.89.

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.