Glen Eagle Advisors LLC Trims Stake in AvalonBay Communities, Inc. $AVB

Glen Eagle Advisors LLC cut its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 95.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 264 shares of the real estate investment trust’s stock after selling 5,359 shares during the period. Glen Eagle Advisors LLC’s holdings in AvalonBay Communities were worth $43,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in AVB. SummitTX Capital L.P. acquired a new stake in shares of AvalonBay Communities in the 1st quarter worth $851,000. OMERS ADMINISTRATION Corp increased its position in AvalonBay Communities by 31.2% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 6,675 shares of the real estate investment trust’s stock valued at $1,090,000 after buying an additional 1,587 shares in the last quarter. 44 Wealth Management LLC increased its position in AvalonBay Communities by 21.1% during the 1st quarter. 44 Wealth Management LLC now owns 3,952 shares of the real estate investment trust’s stock valued at $646,000 after buying an additional 689 shares in the last quarter. Wealth Alliance LLC raised its stake in AvalonBay Communities by 21.0% in the first quarter. Wealth Alliance LLC now owns 3,685 shares of the real estate investment trust’s stock valued at $602,000 after buying an additional 639 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in AvalonBay Communities in the first quarter valued at about $1,493,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AVB. Jefferies Financial Group upgraded AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Scotiabank increased their price objective on shares of AvalonBay Communities from $187.00 to $195.00 and gave the company a “sector perform” rating in a research report on Thursday, July 9th. Piper Sandler lifted their target price on shares of AvalonBay Communities from $195.00 to $210.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Cantor Fitzgerald boosted their target price on shares of AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company dropped their target price on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, AvalonBay Communities has an average rating of “Hold” and a consensus target price of $196.80.

AvalonBay Communities Stock Up 1.2%

AvalonBay Communities stock opened at $192.59 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.62. The business’s 50-day simple moving average is $187.77 and its two-hundred day simple moving average is $179.59. The company has a market cap of $27.36 billion, a PE ratio of 27.91, a PEG ratio of 3.31 and a beta of 0.77. AvalonBay Communities, Inc. has a fifty-two week low of $160.10 and a fifty-two week high of $202.07.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. The firm had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. During the same period in the prior year, the company posted $2.82 earnings per share. Equities analysts anticipate that AvalonBay Communities, Inc. will post 11.29 EPS for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio is 103.19%.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.