Ethic Inc. Grows Position in AvalonBay Communities, Inc. (NYSE:AVB)

Ethic Inc. grew its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 46.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,224 shares of the real estate investment trust’s stock after acquiring an additional 1,975 shares during the quarter. Ethic Inc.’s holdings in AvalonBay Communities were worth $1,299,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in AVB. BNP Paribas Arbitrage SA grew its position in shares of AvalonBay Communities by 59.4% in the second quarter. BNP Paribas Arbitrage SA now owns 261,292 shares of the real estate investment trust’s stock valued at $54,529,000 after purchasing an additional 97,355 shares during the period. Van ECK Associates Corp grew its position in shares of AvalonBay Communities by 80.2% in the second quarter. Van ECK Associates Corp now owns 47,183 shares of the real estate investment trust’s stock valued at $9,847,000 after purchasing an additional 21,004 shares during the period. Citigroup Inc. grew its position in shares of AvalonBay Communities by 5.1% in the second quarter. Citigroup Inc. now owns 392,228 shares of the real estate investment trust’s stock valued at $81,854,000 after purchasing an additional 18,899 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of AvalonBay Communities by 29.6% in the second quarter. Rockefeller Capital Management L.P. now owns 560 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 128 shares during the period. Finally, Rafferty Asset Management LLC grew its position in shares of AvalonBay Communities by 51.9% in the second quarter. Rafferty Asset Management LLC now owns 11,164 shares of the real estate investment trust’s stock valued at $2,330,000 after purchasing an additional 3,813 shares during the period. 87.70% of the stock is owned by institutional investors.

Shares of NYSE:AVB opened at $224.29 on Wednesday. AvalonBay Communities, Inc. has a one year low of $131.38 and a one year high of $233.48. The stock has a fifty day moving average of $225.82 and a 200-day moving average of $206.95. The company has a market capitalization of $31.31 billion, a PE ratio of 29.05, a price-to-earnings-growth ratio of 6.37 and a beta of 0.93. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.41 and a current ratio of 1.41.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Tuesday, July 27th. The real estate investment trust reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $1.28. AvalonBay Communities had a net margin of 48.25% and a return on equity of 10.04%. As a group, research analysts forecast that AvalonBay Communities, Inc. will post 7.99 EPS for the current fiscal year.

In other AvalonBay Communities news, CEO Timothy J. Naughton sold 21,843 shares of the company’s stock in a transaction dated Tuesday, August 31st. The shares were sold at an average price of $228.49, for a total transaction of $4,990,907.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin P. O’shea sold 2,000 shares of the stock in a transaction dated Tuesday, August 3rd. The shares were sold at an average price of $228.60, for a total transaction of $457,200.00. The disclosure for this sale can be found here. Insiders sold 31,253 shares of company stock worth $7,126,588 over the last ninety days. 0.36% of the stock is currently owned by company insiders.

AVB has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on AvalonBay Communities from $162.00 to $176.00 and gave the company a “sell” rating in a report on Wednesday, May 26th. Royal Bank of Canada lifted their target price on AvalonBay Communities from $216.00 to $229.00 and gave the company a “sector perform” rating in a report on Friday, July 30th. Barclays initiated coverage on AvalonBay Communities in a report on Wednesday, September 1st. They issued an “underweight” rating and a $225.00 target price on the stock. Colliers Securities reiterated a “hold” rating and issued a $255.00 target price on shares of AvalonBay Communities in a report on Friday, August 6th. Finally, Mizuho upgraded AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $231.00 target price on the stock in a report on Thursday, June 3rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $211.82.

About AvalonBay Communities

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: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.

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

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