Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 77,860 shares of the real estate investment trust’s stock after selling 3,459 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AvalonBay Communities were worth $14,366,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Alpha DNA Investment Management LLC purchased a new position in shares of AvalonBay Communities in the 4th quarter worth approximately $27,000. First Horizon Advisors Inc. purchased a new position in AvalonBay Communities during the 4th quarter valued at $33,000. Carroll Financial Associates Inc. purchased a new position in AvalonBay Communities during the 1st quarter valued at $42,000. Arlington Partners LLC purchased a new position in AvalonBay Communities during the 1st quarter valued at $42,000. Finally, Parallel Advisors LLC boosted its holdings in AvalonBay Communities by 28.7% during the 1st quarter. Parallel Advisors LLC now owns 242 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 54 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Shares of AVB stock opened at $196.18 on Wednesday. The stock’s 50-day simple moving average is $189.71 and its 200-day simple moving average is $172.63. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market capitalization of $27.39 billion, a PE ratio of 42.19, a P/E/G ratio of 16.32 and a beta of 0.97. AvalonBay Communities, Inc. has a fifty-two week low of $131.38 and a fifty-two week high of $199.48.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Tuesday, April 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.92). The company had revenue of $497.44 million during the quarter, compared to analysts’ expectations of $544.98 million. AvalonBay Communities had a return on equity of 6.02% and a net margin of 27.97%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.39 EPS. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 8.76 earnings per share for the current year.

A number of equities analysts recently issued reports on AVB shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a report on Monday, April 19th. BTIG Research upped their target price on AvalonBay Communities from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Wednesday, March 24th. Smith Barney Citigroup upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a report on Monday, April 19th. Mizuho upped their target price on AvalonBay Communities from $169.00 to $189.00 and gave the stock a “neutral” rating in a report on Monday, March 15th. Finally, Evercore ISI upgraded AvalonBay Communities from an “in-line” rating to an “outperform” rating in a report on Monday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. AvalonBay Communities presently has an average rating of “Hold” and an average target price of $184.63.

AvalonBay Communities Company Profile

As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

Featured Article: How to interpret Moving Average Convergence Divergence (MACD)

Want to see what other hedge funds are holding AVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AvalonBay Communities, Inc. (NYSE:AVB).

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

Receive News & Ratings for AvalonBay Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities and related companies with MarketBeat.com's FREE daily email newsletter.