Wambolt & Associates LLC Lowers Position in AvalonBay Communities, Inc. $AVB

Wambolt & Associates LLC trimmed its position in AvalonBay Communities, Inc. (NYSE:AVB) by 7.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,704 shares of the real estate investment trust’s stock after selling 451 shares during the period. Wambolt & Associates LLC’s holdings in AvalonBay Communities were worth $1,160,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AVB. Perpetual Ltd boosted its holdings in shares of AvalonBay Communities by 0.5% during the 2nd quarter. Perpetual Ltd now owns 10,650 shares of the real estate investment trust’s stock valued at $2,167,000 after buying an additional 50 shares in the last quarter. CX Institutional increased its stake in shares of AvalonBay Communities by 6.3% in the 2nd quarter. CX Institutional now owns 973 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 58 shares in the last quarter. Probity Advisors Inc. increased its stake in shares of AvalonBay Communities by 2.7% in the 2nd quarter. Probity Advisors Inc. now owns 2,243 shares of the real estate investment trust’s stock worth $456,000 after acquiring an additional 60 shares in the last quarter. Clearstead Trust LLC lifted its position in AvalonBay Communities by 62.0% during the 2nd quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 62 shares during the period. Finally, Benjamin Edwards Inc. boosted its stake in AvalonBay Communities by 1.0% during the first quarter. Benjamin Edwards Inc. now owns 6,417 shares of the real estate investment trust’s stock worth $1,377,000 after acquiring an additional 64 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating for the company in a research note on Thursday, November 13th. Cantor Fitzgerald started coverage on AvalonBay Communities in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $205.00 price target on the stock. Wells Fargo & Company reduced their price objective 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. Weiss Ratings reissued a “hold (c)” rating on shares of AvalonBay Communities in a report on Tuesday, October 14th. Finally, Evercore ISI reissued an “in-line” rating and issued a $214.00 target price on shares of AvalonBay Communities in a research note on Monday, November 3rd. Six investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $207.73.

AvalonBay Communities Price Performance

Shares of AVB opened at $181.62 on Wednesday. AvalonBay Communities, Inc. has a twelve month low of $166.73 and a twelve month high of $239.29. The company has a market capitalization of $25.72 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 2.54 and a beta of 0.84. The firm has a 50 day moving average of $184.49 and a 200 day moving average of $193.92. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

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

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $1.75 per share. The ex-dividend date is Wednesday, December 31st. This represents a $7.00 annualized dividend and a yield of 3.9%. AvalonBay Communities’s dividend payout ratio is currently 85.47%.

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.