Investors Buy Shares of AvalonBay Communities, Inc. (AVB) on Weakness

Investors purchased shares of AvalonBay Communities, Inc. (NYSE:AVB) on weakness during trading hours on Tuesday. $59.10 million flowed into the stock on the tick-up and $29.48 million flowed out of the stock on the tick-down, for a money net flow of $29.62 million into the stock. Of all companies tracked, AvalonBay Communities had the 27th highest net in-flow for the day. AvalonBay Communities traded down ($0.60) for the day and closed at $187.51

Several research firms have weighed in on AVB. UBS AG upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and raised their target price for the company from $190.00 to $206.00 in a report on Thursday, November 9th. Royal Bank Of Canada dropped their target price on shares of AvalonBay Communities from $206.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, November 6th. Mizuho restated a “buy” rating and set a $220.00 target price on shares of AvalonBay Communities in a report on Monday, November 6th. Stifel Nicolaus dropped their target price on shares of AvalonBay Communities from $209.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. Finally, Zacks Investment Research upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. AvalonBay Communities presently has a consensus rating of “Hold” and an average price target of $199.27.

The company has a debt-to-equity ratio of 0.69, a current ratio of 0.10 and a quick ratio of 0.10. The company has a market cap of $25,975.72, a PE ratio of 22.16, a PEG ratio of 2.96 and a beta of 0.36.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.17 by ($0.45). AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The company had revenue of $550.50 million during the quarter, compared to analyst estimates of $539.69 million. During the same period in the prior year, the business posted $2.11 earnings per share. AvalonBay Communities’s revenue was up 6.6% on a year-over-year basis. research analysts forecast that AvalonBay Communities, Inc. will post 8.61 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a $1.42 dividend. The ex-dividend date is Thursday, December 28th. This represents a $5.68 annualized dividend and a dividend yield of 3.03%. AvalonBay Communities’s dividend payout ratio is presently 88.75%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning boosted its position in shares of 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 acquiring an additional 2 shares during the last quarter. Amica Retiree Medical Trust acquired a new position in AvalonBay Communities during the third quarter valued at approximately $132,000. WFG Advisors LP lifted its position in AvalonBay Communities by 24.9% during the second quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock valued at $161,000 after buying an additional 167 shares in the last quarter. Eqis Capital Management Inc. acquired a new position in AvalonBay Communities during the second quarter valued at approximately $201,000. Finally, Bbva Compass Bancshares Inc. acquired a new position in AvalonBay Communities during the second quarter valued at approximately $206,000. 96.85% of the stock is currently owned by institutional investors and hedge funds.

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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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