Wetherby Asset Management Inc. Boosts Position in AvalonBay Communities, Inc. (AVB)
Wetherby Asset Management Inc. increased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 5.2% during the second quarter, Holdings Channel reports. The firm owned 1,872 shares of the real estate investment trust’s stock after buying an additional 93 shares during the period. Wetherby Asset Management Inc.’s holdings in AvalonBay Communities were worth $360,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Creative Planning boosted its stake in shares of AvalonBay Communities by 0.4% in the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 2 shares during the last quarter. Muzinich & Co. Inc. boosted its stake in shares of AvalonBay Communities by 104.0% in the first quarter. Muzinich & Co. Inc. now owns 665 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 339 shares during the last quarter. Perigon Wealth Management LLC boosted its stake in shares of 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 worth $191,000 after buying an additional 875 shares during the last quarter. Eqis Capital Management Inc. acquired a new stake in shares of AvalonBay Communities during the second quarter worth approximately $201,000. Finally, Bbva Compass Bancshares Inc. acquired a new stake in shares of AvalonBay Communities during the second quarter worth approximately $206,000. 97.89% of the stock is owned by hedge funds and other institutional investors.
AvalonBay Communities, Inc. (AVB) opened at 191.57 on Tuesday. 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 is $190.06 and its 200 day moving average is $187.37. The firm has a market capitalization of $26.38 billion, a price-to-earnings ratio of 26.38 and a beta of 0.34.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $529.48 million. During the same quarter last year, the firm posted $2.03 earnings per share. Equities analysts predict that AvalonBay Communities, Inc. will post $5.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given 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 2.96%. AvalonBay Communities’s dividend payout ratio (DPR) is 78.13%.
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A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $203.00 target price on shares of AvalonBay Communities in a report on Sunday, July 16th. BTIG Research upped their target price on shares of AvalonBay Communities from $191.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 24th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $196.00 target price on shares of AvalonBay Communities in a report on Monday, April 24th. BMO Capital Markets reaffirmed a “hold” rating and issued a $191.00 target price on shares of AvalonBay Communities in a report on Thursday, May 25th. Finally, Barclays PLC upped their target price on shares of AvalonBay Communities from $174.00 to $188.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $193.58.
In other AvalonBay Communities news, insider William M. Mclaughlin sold 5,112 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $193.88, for a total transaction of $991,114.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by insiders.
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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