Traders Buy AvalonBay Communities, Inc. (AVB) on Weakness

Traders purchased shares of AvalonBay Communities, Inc. (NYSE:AVB) on weakness during trading on Tuesday. $61.17 million flowed into the stock on the tick-up and $30.32 million flowed out of the stock on the tick-down, for a money net flow of $30.85 million into the stock. Of all equities tracked, AvalonBay Communities had the 20th highest net in-flow for the day. AvalonBay Communities traded down ($1.45) for the day and closed at $181.72

Several brokerages have issued reports on AVB. Argus assumed coverage on shares of AvalonBay Communities in a research report on Thursday, June 22nd. They set a “buy” rating and a $220.00 price objective for the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $196.00 target price on shares of AvalonBay Communities in a report on Tuesday, July 4th. BMO Capital Markets reaffirmed a “hold” rating and set a $191.00 target price on shares of AvalonBay Communities in a report on Thursday, May 25th. BidaskClub raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Deutsche Bank AG raised their target price on shares of AvalonBay Communities from $193.00 to $195.00 and gave the stock a “hold” rating in a report on Friday, August 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $195.47.

The company has a 50-day moving average price of $188.23 and a 200 day moving average price of $188.99. The firm has a market cap of $25.03 billion, a P/E ratio of 25.03 and a beta of 0.35.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.14 by ($0.05). AvalonBay Communities had a return on equity of 9.88% and a net margin of 47.90%. The company had revenue of $530.51 million during the quarter, compared to analysts’ expectations of $529.48 million. During the same period in the prior year, the business posted $2.03 earnings per share. Equities research analysts forecast that AvalonBay Communities, Inc. will post $5.19 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $1.42 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $5.68 annualized dividend and a dividend yield of 3.13%. AvalonBay Communities’s dividend payout ratio is 78.13%.

Large investors have recently bought and sold shares of the company. Creative Planning lifted its position in shares of AvalonBay Communities by 0.4% in the 2nd quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 2 shares during the period. Muzinich & Co. Inc. lifted its position in shares of AvalonBay Communities by 104.0% in the 1st quarter. Muzinich & Co. Inc. now owns 665 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 339 shares during the period. WFG Advisors LP lifted its position in shares of AvalonBay Communities by 24.9% in the 2nd quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 167 shares during the period. Perigon Wealth Management LLC lifted its position in shares of AvalonBay Communities by 546.9% in the 1st quarter. Perigon Wealth Management LLC now owns 1,035 shares of the real estate investment trust’s stock worth $191,000 after purchasing an additional 875 shares during the period. Finally, Eqis Capital Management Inc. purchased a new stake in shares of AvalonBay Communities in the 2nd quarter worth about $201,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

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AvalonBay Communities Company Profile

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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