November 28, 2016 - By Adrian Mccoy · 0 Comments
Avalonbay Communities Inc (NYSE:AVB) institutional sentiment decreased to 0.79 in Q2 2016. Its down -0.47, from 1.26 in 2016Q1. The ratio worsened, as 216 hedge funds opened new or increased positions, while 171 cut down and sold equity positions in Avalonbay Communities Inc. The hedge funds in our partner’s database reported: 130.20 million shares, down from 137.63 million shares in 2016Q1. Also, the number of hedge funds holding Avalonbay Communities Inc in their top 10 positions decreased from 17 to 14 for a decrease of 3. Sold All: 37 Reduced: 134 Increased: 169 New Position: 47.
AvalonBay Communities, Inc. is a real estate investment trust. The company has a market cap of $22.31 billion. The Firm focuses 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. It has a 23.57 P/E ratio. It operates through divisions, which include Established Communities, Other Stabilized Communities and Development/Redevelopment Communities.
About 345,568 shares traded hands. AvalonBay Communities Inc (NYSE:AVB) has declined 11.42% since April 25, 2016 and is downtrending. It has underperformed by 17.44% the S&P500.
Analysts await AvalonBay Communities Inc (NYSE:AVB) to report earnings on February, 1. They expect $2.12 EPS, up 6.53% or $0.13 from last year’s $1.99 per share. AVB’s profit will be $291.94 million for 19.10 P/E if the $2.12 EPS becomes a reality. After $2.11 actual EPS reported by AvalonBay Communities Inc for the previous quarter, Wall Street now forecasts 0.47% EPS growth.
According to Zacks Investment Research, “AvalonBay Communities, Inc. is a real estate investment trust. They focus on the ownership and operation of upscale apartment communities in high barrier-to-entry markets of the United States. These markets include Northern and Southern California and selected states in the Mid-Atlantic, Northeast, Midwest and Pacific Northwest regions of the country. AvalonBay is the surviving corporation from the merger of Avalon Properties, Inc. with and into Bay Apartment Communities, Inc.”
Lasalle Investment Management Securities Llc holds 5.48% of its portfolio in AvalonBay Communities Inc for 3.23 million shares. Aew Capital Management L P owns 1.50 million shares or 5.44% of their US portfolio. Moreover, Apg Asset Management Us Inc. has 5.29% invested in the company for 3.76 million shares. The Ontario – Canada-based Independent Order Of Foresters has invested 5.27% in the stock. Cornerstone Real Estate Advisers Llc, a Connecticut-based fund reported 81,230 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 2 selling transactions for $1.48 million net activity.
Ratings analysis reveals 44% of Avalonbay Communities Inc.’s analysts are positive. Out of 18 Wall Street analysts rating Avalonbay Communities Inc., 8 give it “Buy”, 1 “Sell” rating, while 9 recommend “Hold”. The lowest target is $180 while the high is $210. The stock’s average target of $194.57 is 20.10% above today’s ($162.01) share price. AVB was included in 33 notes of analysts from July 21, 2015. On Thursday, August 20 the stock rating was upgraded by Credit Suisse to “Outperform”. The rating was downgraded by UBS to “Neutral” on Monday, April 11. The firm earned “Underweight” rating on Tuesday, November 10 by BB&T Capital. The company was maintained on Tuesday, September 8 by Evercore. The stock has “Buy” rating given by SunTrust on Tuesday, July 21. Jefferies maintained AvalonBay Communities Inc (NYSE:AVB) rating on Wednesday, August 10. Jefferies has “Hold” rating and $187 price target. On Tuesday, September 6 the stock rating was upgraded by Sandler O’Neill to “Buy”. The company was downgraded on Monday, March 7 by BMO Capital Markets. The rating was maintained by Deutsche Bank on Wednesday, November 18 with “Buy”. The company was maintained on Wednesday, August 10 by Deutsche Bank.
AvalonBay Communities, Inc., incorporated on March 13, 1995, is a real estate investment trust (REIT). The Firm focuses 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. The Firm operates through divisions, which include Established Communities, Other Stabilized Communities and Development/Redevelopment Communities. The Firm owns or holds an interest in approximately 260 operating apartment communities containing over 75,380 apartment homes in approximately 10 states and the District of Columbia, of which over 10 communities containing approximately 3,430 apartment homes are under reconstruction. The Firm operates its apartment communities under three core brands: Avalon, AVA and Eaves by Avalon.
More notable recent AvalonBay Communities Inc (NYSE:AVB) news were published by: Forbes.com which released: “AvalonBay Communities Enters Oversold Territory” on August 24, 2016, also Businesswire.com with their article: “AvalonBay Communities, Inc. Announces Third Quarter 2016 Operating Results” published on October 24, 2016, Moodys.com published: “Moody’s upgrades AvalonBay to A3, outlook stable” on October 07, 2016. More interesting news about AvalonBay Communities Inc (NYSE:AVB) were released by: Businesswire.com and their article: “AvalonBay Communities, Inc. Announces First Quarter 2016 Operating Results” published on April 27, 2016 as well as Seekingalpha.com‘s news article titled: “Evercore lifts trio of apartment REITs” with publication date: November 28, 2016.
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By Adrian Mccoy