AvalonBay Communities, Inc. (NYSE:AVB) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Tuesday, July 11th.
AVB has been the topic of a number of other reports. Deutsche Bank AG downgraded AvalonBay Communities from a “buy” rating to a “hold” rating and set a $193.00 price objective on the stock. in a research note on Wednesday, May 17th. JMP Securities downgraded AvalonBay Communities from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 19th. They noted that the move was a valuation call. Jefferies Group LLC reaffirmed a “hold” rating and set a $196.00 price target on shares of AvalonBay Communities in a research note on Tuesday, July 4th. Argus began coverage on AvalonBay Communities in a research note on Thursday, June 22nd. They set a “buy” rating and a $220.00 price target on the stock. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $191.00 price target on shares of AvalonBay Communities in a research note on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, ten 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 $193.58.
AvalonBay Communities (NYSE:AVB) traded up 0.06% during trading on Tuesday, reaching $188.55. The company’s stock had a trading volume of 725,952 shares. The stock’s 50 day moving average is $191.58 and its 200-day moving average is $186.57. The firm has a market cap of $25.91 billion, a P/E ratio of 25.12 and a beta of 0.34. AvalonBay Communities has a 52 week low of $158.32 and a 52 week high of $199.52.
AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by $0.05. The business had revenue of $530.51 million during the quarter, compared to analyst estimates of $529.48 million. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. During the same period in the prior year, the firm earned $2.03 earnings per share. On average, equities research analysts forecast that AvalonBay Communities will post $5.03 earnings per share for the current fiscal year.
In other AvalonBay Communities news, insider William M. Mclaughlin sold 5,112 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $193.88, for a total transaction of $991,114.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Edward M. Schulman sold 1,764 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $191.82, for a total value of $338,370.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,876 shares of company stock valued at $1,521,845. 0.53% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Creative Planning boosted its stake in AvalonBay Communities by 0.4% in the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 2 shares in the last quarter. Muzinich & Co. Inc. boosted its stake in AvalonBay Communities by 104.0% in the first quarter. Muzinich & Co. Inc. now owns 665 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 339 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in AvalonBay Communities by 546.9% in the first quarter. Perigon Wealth Management LLC now owns 1,035 shares of the real estate investment trust’s stock worth $191,000 after buying an additional 875 shares in the last quarter. Eqis Capital Management Inc. purchased a new stake in AvalonBay Communities during the second quarter worth about $201,000. Finally, Bbva Compass Bancshares Inc. purchased a new stake in AvalonBay Communities during the second quarter worth about $206,000. Institutional investors own 98.59% 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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