TD Asset Management Inc Has $18.79 Million Position in AvalonBay Communities, Inc. $AVB

TD Asset Management Inc cut its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,626 shares of the real estate investment trust’s stock after selling 6,569 shares during the quarter. TD Asset Management Inc owned about 0.07% of AvalonBay Communities worth $18,788,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AVB. State Street Corp grew its holdings in AvalonBay Communities by 1.0% in the 3rd quarter. State Street Corp now owns 9,537,966 shares of the real estate investment trust’s stock valued at $1,858,788,000 after buying an additional 92,467 shares in the last quarter. Norges Bank acquired a new position in AvalonBay Communities in the 4th quarter valued at $1,394,635,000. Principal Financial Group Inc. grew its holdings in AvalonBay Communities by 9.3% in the 4th quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust’s stock valued at $815,360,000 after buying an additional 383,983 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in AvalonBay Communities by 6.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,215,821 shares of the real estate investment trust’s stock valued at $814,376,000 after buying an additional 249,171 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in AvalonBay Communities by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 4,151,217 shares of the real estate investment trust’s stock valued at $750,042,000 after buying an additional 228,244 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

NYSE:AVB opened at $189.72 on Monday. The stock has a fifty day moving average price of $177.59 and a 200-day moving average price of $177.38. The company has a market cap of $26.39 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 3.30 and a beta of 0.78. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.62 and a current ratio of 0.62. AvalonBay Communities, Inc. has a fifty-two week low of $160.10 and a fifty-two week high of $209.86.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. The company had revenue of $770.28 million for the quarter, compared to the consensus estimate of $768.80 million. During the same quarter in the previous year, the company posted $2.83 earnings per share. As a group, equities analysts anticipate that AvalonBay Communities, Inc. will post 11.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on AVB shares. Scotiabank decreased their price objective on AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating on the stock in a report on Thursday, May 14th. Citigroup decreased their price objective on AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. UBS Group decreased their price objective on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Wolfe Research raised AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price objective on the stock in a report on Monday, June 1st. Finally, Royal Bank Of Canada upped their price objective on AvalonBay Communities from $180.00 to $188.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $198.44.

AvalonBay Communities 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.