Cibc World Market Inc. Makes New Investment in AvalonBay Communities, Inc. $AVB

Cibc World Market Inc. purchased a new stake in AvalonBay Communities, Inc. (NYSE:AVB) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 28,275 shares of the real estate investment trust’s stock, valued at approximately $5,335,000.

Several other institutional investors have also recently made changes to their positions in AVB. Reflection Asset Management acquired a new stake in AvalonBay Communities in the fourth quarter valued at approximately $25,000. Clearstead Trust LLC raised its position 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 during the period. Zions Bancorporation National Association UT lifted its holdings in shares of AvalonBay Communities by 300.0% in the 4th 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 stake in AvalonBay Communities in the 3rd quarter valued at $31,000. Finally, Headlands Technologies LLC acquired a new stake in AvalonBay Communities in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

AVB stock opened at $184.06 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74. The firm 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. The business has a 50 day moving average of $187.67 and a 200-day moving average of $180.57. AvalonBay Communities, Inc. has a 12-month low of $160.10 and a 12-month high of $198.63.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.The business had revenue of $777.77 million for the quarter, compared to the consensus estimate of $772.37 million. During the same quarter last year, the business posted $2.82 earnings per share. As a group, sell-side analysts expect 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. Investors of record on Tuesday, June 30th were issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 30th. AvalonBay Communities’s payout ratio is 116.34%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AVB. Jefferies Financial Group raised shares of AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Barclays boosted their target price on shares of AvalonBay Communities from $205.00 to $206.00 and gave the stock an “equal weight” rating in a research report on Monday, August 17th. Wolfe Research upgraded shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price on the stock in a report on Monday, June 1st. Weiss Ratings cut shares of AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen upgraded 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 assigned a Hold rating to the company’s stock. According to MarketBeat.com, AvalonBay Communities has an average rating of “Hold” and a consensus target price 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.