Municipal Employees Retirement System of Michigan boosted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.4% during the first quarter, Holdings Channel reports. The institutional investor owned 4,430 shares of the real estate investment trust’s stock after buying an additional 60 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in AvalonBay Communities were worth $813,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Chilton Capital Management LLC raised its stake in shares of AvalonBay Communities by 2.1% in the fourth quarter. Chilton Capital Management LLC now owns 117,764 shares of the real estate investment trust’s stock worth $20,862,000 after buying an additional 2,374 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of AvalonBay Communities by 129.0% in the first quarter. Canada Pension Plan Investment Board now owns 157,047 shares of the real estate investment trust’s stock worth $28,834,000 after buying an additional 88,475 shares in the last quarter. Whittier Trust Co. raised its stake in shares of AvalonBay Communities by 2.8% in the first quarter. Whittier Trust Co. now owns 1,144 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 31 shares in the last quarter. Brookfield Asset Management Inc. raised its stake in shares of AvalonBay Communities by 0.4% in the fourth quarter. Brookfield Asset Management Inc. now owns 864,917 shares of the real estate investment trust’s stock worth $153,220,000 after buying an additional 3,800 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of AvalonBay Communities during the fourth quarter worth about $198,304,000. 99.89% of the stock is owned by hedge funds and other institutional investors.

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

Shares of AvalonBay Communities, Inc. (NYSE AVB) traded up 0.07% during mid-day trading on Friday, hitting $196.10. 1,143,802 shares of the stock traded hands. The company has a market cap of $26.95 billion, a P/E ratio of 26.13 and a beta of 0.34. The stock has a 50 day moving average price of $192.66 and a 200-day moving average price of $182.24. AvalonBay Communities, Inc. has a one year low of $158.32 and a one year high of $199.52.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $2.09 earnings per share for the quarter, missing the consensus estimate of $2.11 by $0.02. The firm had revenue of $522.33 million during the quarter, compared to analyst estimates of $520.56 million. AvalonBay Communities had a net margin of 50.12% and a return on equity of 10.31%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.97 earnings per share. On average, analysts forecast that AvalonBay Communities, Inc. will post $5.19 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Wednesday, June 28th. AvalonBay Communities’s dividend payout ratio is currently 75.63%.

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AVB has been the subject of a number of analyst reports. Bank of America Corporation raised shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $202.00 price objective for the company in a report on Wednesday, March 8th. Evercore ISI lowered shares of AvalonBay Communities to a “buy” rating in a report on Friday, March 3rd. JMP Securities lowered shares of AvalonBay Communities from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 19th. They noted that the move was a valuation call. Deutsche Bank AG lowered shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $193.00 price objective for the company. in a report on Wednesday, May 17th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $191.00 price objective on shares of AvalonBay Communities in a report on Thursday, May 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $192.73.

In other news, COO Sean J. Breslin sold 1,500 shares of AvalonBay Communities stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $192.19, for a total value of $288,285.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Keri A. Shea sold 1,000 shares of AvalonBay Communities stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $192.36, for a total value of $192,360.00. The disclosure for this sale can be found here. Insiders sold a total of 42,336 shares of company stock worth $8,123,261 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

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.

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