Phocas Financial Corp. raised its position in AvalonBay Communities, Inc. (NYSE:AVB) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,396 shares of the real estate investment trust’s stock after acquiring an additional 207 shares during the quarter. Phocas Financial Corp.’s holdings in AvalonBay Communities were worth $2,574,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AVB. Creative Planning lifted its stake in AvalonBay Communities by 0.4% in the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 2 shares during the last quarter. WFG Advisors LP lifted its stake in AvalonBay Communities by 24.9% in the second quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock valued at $161,000 after acquiring an additional 167 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in AvalonBay Communities by 546.9% in 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 acquiring an additional 875 shares during the last quarter. Eqis Capital Management Inc. acquired a new stake in AvalonBay Communities in the second quarter valued at $201,000. Finally, Bbva Compass Bancshares Inc. acquired a new stake in AvalonBay Communities in the second quarter valued at $206,000. Hedge funds and other institutional investors own 97.50% of the company’s stock.

A number of analysts have commented on the stock. Argus assumed coverage on shares of AvalonBay Communities in a research note on Thursday, June 22nd. They issued a “buy” rating and a $220.00 price target for the company. Jefferies Group LLC reiterated a “hold” rating and issued a $196.00 price target on shares of AvalonBay Communities in a research note on Tuesday, July 4th. BidaskClub upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. BMO Capital Markets reiterated a “hold” rating and issued a $191.00 price target on shares of AvalonBay Communities in a research note on Wednesday, August 2nd. Finally, Deutsche Bank AG increased their price target on shares of AvalonBay Communities from $193.00 to $195.00 and gave the company a “hold” rating in a research note on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $196.00.

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Shares of AvalonBay Communities, Inc. (AVB) traded up 0.11% during mid-day trading on Tuesday, reaching $179.40. 106,802 shares of the company’s stock traded hands. The company has a market cap of $24.71 billion, a P/E ratio of 24.71 and a beta of 0.36. AvalonBay Communities, Inc. has a 12-month low of $158.32 and a 12-month high of $199.52. The firm has a 50-day moving average of $182.32 and a 200 day moving average of $188.47.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data 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). The business had revenue of $530.51 million for 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 period last year, the company earned $2.03 earnings per share. Equities analysts forecast that AvalonBay Communities, Inc. will post $5.19 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Thursday, September 28th. AvalonBay Communities’s payout ratio is 78.13%.

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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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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