Bbva Compass Bancshares Inc. Invests $206,000 in AvalonBay Communities, Inc. (AVB)
Bbva Compass Bancshares Inc. purchased a new stake in AvalonBay Communities, Inc. (NYSE:AVB) during the second quarter, Holdings Channel reports. The fund purchased 1,073 shares of the real estate investment trust’s stock, valued at approximately $206,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning boosted its position 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 buying an additional 2 shares in the last quarter. Muzinich & Co. Inc. boosted its position in AvalonBay Communities by 104.0% in 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 boosted its position 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 buying an additional 875 shares in the last quarter. Eqis Capital Management Inc. acquired a new position in AvalonBay Communities during the second quarter valued at $201,000. Finally, Whittier Trust Co. boosted its position in AvalonBay Communities by 2.8% in the first quarter. Whittier Trust Co. now owns 1,144 shares of the real estate investment trust’s stock valued at $210,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 98.59% of the company’s stock.
Shares of AvalonBay Communities, Inc. (NYSE:AVB) opened at 189.05 on Friday. AvalonBay Communities, Inc. has a 12-month low of $158.32 and a 12-month high of $199.52. The firm’s 50-day moving average price is $190.28 and its 200 day moving average price is $186.98. The company has a market cap of $26.03 billion, a price-to-earnings ratio of 26.04 and a beta of 0.34.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data 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 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 quarter in the previous year, the business posted $2.03 EPS. On average, analysts predict that AvalonBay Communities, Inc. will post $5.19 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a dividend of $1.42 per share. The ex-dividend date was Wednesday, June 28th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.00%. AvalonBay Communities’s payout ratio is currently 78.13%.
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Several research firms have recently weighed in on AVB. Deutsche Bank AG cut AvalonBay Communities from a “buy” rating to a “hold” rating and set a $193.00 price target for the company. in a research note on Wednesday, May 17th. JMP Securities lowered AvalonBay Communities from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 19th. They noted that the move was a valuation call. Barclays PLC lifted their price objective on AvalonBay Communities from $188.00 to $189.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 18th. BidaskClub raised AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $196.00 price objective on shares of AvalonBay Communities in a report on Tuesday, July 4th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $193.58.
In other AvalonBay Communities news, insider William M. Mclaughlin sold 5,112 shares of AvalonBay Communities stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $193.88, for a total transaction of $991,114.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Edward M. Schulman sold 1,764 shares of AvalonBay Communities stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $191.82, for a total value of $338,370.48. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.
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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