Pacific Sun Financial Corp Purchases New Shares in AvalonBay Communities, Inc. $AVB

Pacific Sun Financial Corp purchased a new position in AvalonBay Communities, Inc. (NYSE:AVB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,159 shares of the real estate investment trust’s stock, valued at approximately $601,000.

Other large investors also recently added to or reduced their stakes in the company. Reflection Asset Management purchased a new position in AvalonBay Communities during the fourth quarter valued at $25,000. Clearstead Trust LLC increased its stake in shares of AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 56 shares in the last quarter. Zions Bancorporation National Association UT increased its stake in shares of AvalonBay Communities by 300.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares in the last quarter. BOKF NA acquired a new position in shares of AvalonBay Communities during the 3rd quarter worth about $31,000. Finally, Elyxium Wealth LLC acquired a new position in shares of AvalonBay Communities during the 4th quarter worth about $32,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

NYSE AVB opened at $184.06 on Wednesday. The stock has a fifty day simple moving average of $187.80 and a 200-day simple moving average of $180.28. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.74. The stock has a market cap of $26.28 billion, a PE ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76. AvalonBay Communities, Inc. has a twelve month low of $160.10 and a twelve month high of $198.63.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.12). The company had revenue of $777.77 million during the quarter, compared to analysts’ expectations of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same quarter last year, the firm posted $2.82 earnings per share. Equities analysts anticipate that AvalonBay Communities, Inc. will post 11.33 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $1.78 per share. The ex-dividend date was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 116.34%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AVB. Barclays raised their price target on shares of AvalonBay Communities from $205.00 to $206.00 and gave the company an “equal weight” rating in a research note on Monday. Cantor Fitzgerald increased their target price on AvalonBay Communities from $186.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Royal Bank Of Canada increased their target price on AvalonBay Communities from $180.00 to $188.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Scotiabank raised their target price on AvalonBay Communities from $187.00 to $195.00 and gave the company a “sector perform” rating in a research report on Thursday, July 9th. Finally, Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, AvalonBay Communities has a consensus rating of “Hold” and a consensus price target of $196.87.

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.