AvalonBay Communities, Inc. $AVB Stake Lowered by Cornerstone Advisors LLC

Cornerstone Advisors LLC lessened its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 13.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,600 shares of the real estate investment trust’s stock after selling 400 shares during the period. Cornerstone Advisors LLC’s holdings in AvalonBay Communities were worth $529,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AVB. Clearstead Trust LLC increased its stake in shares of AvalonBay Communities by 62.0% in the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 62 shares during the period. Sound Income Strategies LLC raised its stake in shares of AvalonBay Communities by 76.4% in the second quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 81 shares during the last quarter. Keystone Global Partners LLC bought a new stake in shares of AvalonBay Communities during the first quarter worth $45,000. Zions Bancorporation National Association UT acquired a new stake in AvalonBay Communities in the 1st quarter valued at about $50,000. Finally, Capital Analysts LLC lifted its stake in shares of AvalonBay Communities by 48.5% during the first quarter. Capital Analysts LLC now owns 245 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 80 shares during the period. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Trading Up 0.4%

Shares of AVB stock opened at $177.74 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.70. AvalonBay Communities, Inc. has a 1 year low of $166.73 and a 1 year high of $239.29. The stock has a market capitalization of $25.17 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 2.54 and a beta of 0.84. The company’s fifty day simple moving average is $186.66 and its two-hundred day simple moving average is $195.37.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $2.75 EPS for the quarter, missing the consensus estimate of $2.81 by ($0.06). AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.75%. The firm had revenue of $766.80 million for the quarter, compared to the consensus estimate of $766.22 million. During the same quarter last year, the company posted $2.74 earnings per share. As a group, analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $1.75 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $7.00 annualized dividend and a yield of 3.9%. AvalonBay Communities’s payout ratio is 85.47%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AVB. Wells Fargo & Company decreased their target price on AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Evercore ISI reiterated an “in-line” rating and set a $214.00 target price on shares of AvalonBay Communities in a report on Monday, November 3rd. Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings restated a “hold (c)” rating on shares of AvalonBay Communities in a research report on Tuesday, October 14th. Finally, Morgan Stanley reduced their price target on AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $209.35.

AvalonBay Communities Company 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.