Wambolt & Associates LLC Boosts Stock Position in AvalonBay Communities Inc (NYSE:AVB)

Wambolt & Associates LLC raised its stake in AvalonBay Communities Inc (NYSE:AVB) by 15.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,631 shares of the real estate investment trust’s stock after buying an additional 222 shares during the quarter. Wambolt & Associates LLC’s holdings in AvalonBay Communities were worth $331,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cornerstone Advisors Inc. grew its stake in shares of AvalonBay Communities by 85.5% during the first quarter. Cornerstone Advisors Inc. now owns 128 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 59 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of AvalonBay Communities during the first quarter worth about $27,000. WP Advisors LLC purchased a new stake in shares of AvalonBay Communities during the first quarter worth about $31,000. NuWave Investment Management LLC grew its stake in shares of AvalonBay Communities by 575.0% during the second quarter. NuWave Investment Management LLC now owns 216 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 184 shares during the last quarter. Finally, Hanson McClain Inc. grew its stake in shares of AvalonBay Communities by 29.6% during the first quarter. Hanson McClain Inc. now owns 267 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 61 shares during the last quarter. Institutional investors own 91.63% of the company’s stock.

In other AvalonBay Communities news, EVP William M. Mclaughlin sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $209.07, for a total value of $522,675.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $210.00, for a total value of $420,000.00. The disclosure for this sale can be found here. Insiders have sold 7,250 shares of company stock valued at $1,513,723 in the last ninety days. Corporate insiders own 0.42% of the company’s stock.

A number of brokerages have recently weighed in on AVB. Mizuho lowered AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $210.00 price target on the stock. in a research note on Wednesday, May 8th. Argus restated a “buy” rating and set a $215.00 price target on shares of AvalonBay Communities in a research note on Tuesday, April 30th. ValuEngine lowered AvalonBay Communities from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Morgan Stanley boosted their price target on AvalonBay Communities from $194.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 27th. Finally, Barclays lifted their target price on AvalonBay Communities from $213.00 to $228.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 16th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. AvalonBay Communities has an average rating of “Hold” and an average price target of $207.00.

Shares of AvalonBay Communities stock traded up $1.15 on Wednesday, reaching $204.24. 11,020 shares of the stock were exchanged, compared to its average volume of 579,158. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.57 and a quick ratio of 0.57. AvalonBay Communities Inc has a twelve month low of $167.01 and a twelve month high of $214.10. The company has a market capitalization of $28.68 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 3.89 and a beta of 0.53. The company has a 50 day simple moving average of $207.45.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.21 EPS for the quarter, missing the Zacks’ consensus estimate of $2.31 by ($1.10). AvalonBay Communities had a return on equity of 8.63% and a net margin of 41.83%. The firm had revenue of $577.26 million for the quarter, compared to analyst estimates of $572.69 million. During the same period last year, the firm earned $2.23 EPS. On average, research analysts predict that AvalonBay Communities Inc will post 9.34 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $1.52 per share. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date was Thursday, June 27th. AvalonBay Communities’s dividend payout ratio (DPR) is 67.56%.

About AvalonBay Communities

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

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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)

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