Vanguard Group Inc buys $3,859.4 Million stake in AvalonBay Communities Inc (AVB)

AvalonBay Communities Inc (AVB) : Vanguard Group Inc scooped up 856,154 additional shares in AvalonBay Communities Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 20,739,648 shares of AvalonBay Communities Inc which is valued at $3,859.4 Million.AvalonBay Communities Inc makes up approximately 0.25% of Vanguard Group Inc’s portfolio.

Other Hedge Funds, Including , Caisse De Depot Et Placement Du Quebec reduced its stake in AVB by selling 43,174 shares or 74.23% in the most recent quarter. The Hedge Fund company now holds 14,986 shares of AVB which is valued at $2.8 Million. AvalonBay Communities Inc makes up approx 0.01% of Caisse De Depot Et Placement Du Quebec’s portfolio.Massachusetts Financial Services Co reduced its stake in AVB by selling 51,791 shares or 9.91% in the most recent quarter. The Hedge Fund company now holds 470,976 shares of AVB which is valued at $87.6 Million. AvalonBay Communities Inc makes up approx 0.05% of Massachusetts Financial Services Co’s portfolio.Rpg Family Wealth Advisory boosted its stake in AVB in the latest quarter, The investment management firm added 25 additional shares and now holds a total of 257 shares of AvalonBay Communities Inc which is valued at $47,825. AvalonBay Communities Inc makes up approx 0.04% of Rpg Family Wealth Advisory’s portfolio. Barometer Capital Management sold out all of its stake in AVB during the most recent quarter. The investment firm sold 92,400 shares of AVB which is valued $17.2 Million.

AvalonBay Communities Inc opened for trading at $180.73 and hit $181.31 on the upside on Wednesday, eventually ending the session at $180.81, with a gain of 0.40% or 0.72 points. The heightened volatility saw the trading volume jump to 9,20,133 shares. Company has a market cap of $24,800 M.

On the company’s financial health, AvalonBay Communities Inc reported $1.97 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $1.96. The company had revenue of $508.49 million for the quarter, compared to analysts expectations of $483.66 million. The company’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.88 EPS.

Investors should note that on May 19, 2016, AvalonBay Communities Inc announced a cash dividend of $1.3500. The company’s management has announced Jun 28, 2016 as the ex-dividend date and fixed the record date on Jun 30, 2016. The payable date has been fixed on Jul 15, 2016.

Many Wall Street Analysts have commented on AvalonBay Communities Inc. Company shares were Reiterated by RBC Capital Mkts on May 3, 2016 to “Outperform”, Firm has raised the Price Target to $ 198 from a previous price target of $196 .Company shares were Downgraded by UBS on Apr 11, 2016 to ” Neutral”, Firm has raised the Price Target to $ 184 from a previous price target of $180 .

AvalonBay Communities Inc. is a real estate investment trust (REIT). The Company develops redevelops acquires owns and operates multifamily communities primarily in New England the New York/New Jersey metro area the Mid-Atlantic the Pacific Northwest and Northern and Southern California. It focuses on metropolitan areas in these regions. The Company operates in three segments: Established Communities Other Stabilized Communities and Development/Redevelopment Communities. It owns an ownership interest in around 252 operating apartment communities containing 74240 apartment homes in 11 states and the District of Columbia of which around 228 communities contain around 66631 apartment homes; two communities containing over 618 apartment homes were held by joint ventures in which it holds an ownership interest and approximately 22 communities contain around 6991 apartment homes. It operates apartment communities under three core brands: Avalon AVA and Eaves by Avalon.

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