Tobam Has $110,000 Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Tobam lowered its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 53.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 514 shares of the real estate investment trust’s stock after selling 601 shares during the period. Tobam’s holdings in AvalonBay Communities were worth $110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Ancora Advisors LLC boosted its stake in AvalonBay Communities by 1,666.7% during the 4th quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 150 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in AvalonBay Communities in the fourth quarter worth $36,000. Crowley Wealth Management Inc. bought a new position in shares of AvalonBay Communities during the fourth quarter worth $44,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of AvalonBay Communities during the fourth quarter worth $53,000. Finally, Continuum Advisory LLC grew its holdings in shares of AvalonBay Communities by 12,200.0% in the 4th quarter. Continuum Advisory LLC now owns 246 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 244 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Price Performance

NYSE AVB opened at $205.99 on Friday. The firm’s 50 day moving average is $204.19 and its 200-day moving average is $213.49. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $29.33 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. AvalonBay Communities, Inc. has a 12-month low of $180.40 and a 12-month high of $239.29.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.03. AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. The business had revenue of $693.43 million during the quarter, compared to the consensus estimate of $744.61 million. During the same quarter last year, the firm earned $2.70 earnings per share. Equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Monday, June 30th. AvalonBay Communities’s dividend payout ratio is currently 87.17%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. BMO Capital Markets downgraded AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price objective on the stock. in a research note on Friday, April 4th. Wall Street Zen lowered AvalonBay Communities from a “hold” rating to a “sell” rating in a research report on Saturday, May 31st. Barclays lifted their price objective on AvalonBay Communities from $227.00 to $240.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. Royal Bank of Canada lowered their target price on AvalonBay Communities from $223.00 to $220.00 and set a “sector perform” rating for the company in a research note on Thursday, May 8th. Finally, Mizuho dropped their target price on shares of AvalonBay Communities from $238.00 to $213.00 and set an “outperform” rating on the stock in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $236.79.

AvalonBay Communities Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.