Fiduciary Trust Co. trimmed its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,677 shares of the real estate investment trust’s stock after selling 100 shares during the period. Fiduciary Trust Co.’s holdings in AvalonBay Communities were worth $706,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the stock. Creative Planning raised its holdings in AvalonBay Communities by 0.4% during the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 2 shares in the last quarter. Muzinich & Co. Inc. raised its holdings in AvalonBay Communities by 104.0% during the first quarter. Muzinich & Co. Inc. now owns 665 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 339 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in AvalonBay Communities by 546.9% during the first quarter. Perigon Wealth Management LLC now owns 1,035 shares of the real estate investment trust’s stock valued at $191,000 after buying an additional 875 shares in the last quarter. Eqis Capital Management Inc. bought a new position in AvalonBay Communities during the second quarter valued at about $201,000. Finally, Bbva Compass Bancshares Inc. bought a new position in AvalonBay Communities during the second quarter valued at about $206,000. Institutional investors and hedge funds own 97.52% of the company’s stock.
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Several equities analysts have weighed in on the company. Barclays PLC raised their target price on AvalonBay Communities from $188.00 to $189.00 and gave the company an “equal weight” rating in a report on Tuesday, July 18th. BidaskClub upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Jefferies Group LLC reiterated a “hold” rating and issued a $196.00 price objective on shares of AvalonBay Communities in a research note on Tuesday, July 4th. Robert W. Baird reissued a “buy” rating and set a $202.00 target price on shares of AvalonBay Communities in a research report on Friday, September 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $209.00 price objective on shares of AvalonBay Communities in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $195.47.
AvalonBay Communities, Inc. (NYSE:AVB) opened at 178.52 on Friday. AvalonBay Communities, Inc. has a 12-month low of $158.32 and a 12-month high of $199.52. The company has a market capitalization of $24.58 billion, a PE ratio of 24.59 and a beta of 0.35. The firm has a 50-day moving average of $187.92 and a 200 day moving average of $188.99.
AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.14 by ($0.05). The company had revenue of $530.51 million during the quarter, compared to analysts’ expectations of $529.48 million. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. During the same quarter in the previous year, the firm earned $2.03 earnings per share. Analysts forecast that AvalonBay Communities, Inc. will post $5.19 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, September 28th. AvalonBay Communities’s payout ratio is 78.13%.
About AvalonBay Communities
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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