AvalonBay Communities, Inc. (AVB) Shares Sold by APG Asset Management US Inc.

APG Asset Management US Inc. decreased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 10.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,870,420 shares of the real estate investment trust’s stock after selling 430,860 shares during the period. AvalonBay Communities makes up approximately 6.3% of APG Asset Management US Inc.’s portfolio, making the stock its 7th largest position. APG Asset Management US Inc. owned approximately 2.82% of AvalonBay Communities worth $743,779,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AVB. Forsta AP Fonden boosted its position in AvalonBay Communities by 49.7% in the second quarter. Forsta AP Fonden now owns 85,527 shares of the real estate investment trust’s stock worth $16,436,000 after buying an additional 28,400 shares in the last quarter. Manning & Napier Advisors LLC boosted its position in AvalonBay Communities by 7.5% in the second quarter. Manning & Napier Advisors LLC now owns 59,295 shares of the real estate investment trust’s stock worth $11,393,000 after buying an additional 4,115 shares in the last quarter. US Bancorp DE boosted its position in AvalonBay Communities by 7.9% in the second quarter. US Bancorp DE now owns 24,540 shares of the real estate investment trust’s stock worth $4,716,000 after buying an additional 1,797 shares in the last quarter. State Treasurer State of Michigan boosted its position in AvalonBay Communities by 0.4% in the second quarter. State Treasurer State of Michigan now owns 45,323 shares of the real estate investment trust’s stock worth $8,710,000 after buying an additional 200 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in AvalonBay Communities by 177.1% in the second quarter. Assenagon Asset Management S.A. now owns 9,246 shares of the real estate investment trust’s stock worth $1,777,000 after buying an additional 5,909 shares in the last quarter. 97.89% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities, Inc. (NYSE AVB) traded down 0.73% during mid-day trading on Friday, reaching $188.99. The company’s stock had a trading volume of 577,316 shares. AvalonBay Communities, Inc. has a 52 week low of $158.32 and a 52 week high of $199.52. The firm has a market capitalization of $26.03 billion, a price-to-earnings ratio of 26.03 and a beta of 0.34. The company’s 50-day moving average price is $189.80 and its 200 day moving average price is $187.68.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by $0.05. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. The company had revenue of $530.51 million during the quarter, compared to analysts’ expectations of $529.48 million. During the same period last year, the firm earned $2.03 earnings per share. On average, equities analysts forecast that AvalonBay Communities, Inc. will post $5.26 earnings per share for the current fiscal year.

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AVB has been the subject of a number of research reports. BidaskClub lowered AvalonBay Communities from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. BTIG Research boosted their price target on AvalonBay Communities from $191.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 24th. BMO Capital Markets reiterated a “hold” rating and issued a $191.00 price target on shares of AvalonBay Communities in a report on Wednesday, August 2nd. Deutsche Bank AG boosted their price target on AvalonBay Communities from $193.00 to $195.00 and gave the company a “hold” rating in a report on Friday. Finally, Argus initiated coverage on AvalonBay Communities in a report on Thursday, June 22nd. They issued a “buy” rating and a $220.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. AvalonBay Communities presently has a consensus rating of “Hold” and a consensus target price of $193.75.

In related news, insider William M. Mclaughlin sold 5,112 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $193.88, for a total value of $991,114.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by insiders.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.

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

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