BidaskClub lowered shares of AvalonBay Communities, Inc. (NYSE:AVB) from a hold rating to a sell rating in a research note published on Wednesday.

A number of other research analysts have also weighed in on the company. BMO Capital Markets restated a hold rating and issued a $191.00 target price on shares of AvalonBay Communities in a report on Wednesday, August 2nd. Barclays PLC raised their target price on AvalonBay Communities from $188.00 to $189.00 and gave the company an equal weight rating in a report on Tuesday, July 18th. Royal Bank Of Canada restated a buy rating and issued a $203.00 target price on shares of AvalonBay Communities in a report on Sunday, July 16th. Jefferies Group LLC restated a hold rating and issued a $196.00 target price on shares of AvalonBay Communities in a report on Tuesday, July 4th. Finally, Argus assumed coverage on AvalonBay Communities in a report on Thursday, June 22nd. They issued a buy rating and a $220.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $193.58.

AvalonBay Communities (AVB) traded down 0.29% during trading on Wednesday, hitting $188.51. The stock had a trading volume of 397,827 shares. The firm has a market capitalization of $25.96 billion, a P/E ratio of 25.96 and a beta of 0.34. The stock has a 50 day moving average of $190.13 and a 200 day moving average of $187.06. AvalonBay Communities has a one year low of $158.32 and a one year high of $199.52.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.14 by $0.05. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. The company had revenue of $530.51 million during the quarter, compared to the consensus estimate of $529.48 million. During the same quarter in the prior year, the business earned $2.03 EPS. Equities research analysts expect that AvalonBay Communities will post $5.19 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Wednesday, June 28th. AvalonBay Communities’s dividend payout ratio is currently 78.13%.

In other AvalonBay Communities news, insider William M. Mclaughlin sold 5,112 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $193.88, for a total value of $991,114.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Edward M. Schulman sold 1,764 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $191.82, for a total value of $338,370.48. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Creative Planning increased its stake in AvalonBay Communities by 0.4% in the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 2 shares in the last quarter. Muzinich & Co. Inc. increased its stake in AvalonBay Communities by 104.0% in the first quarter. Muzinich & Co. Inc. now owns 665 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 339 shares in the last quarter. Perigon Wealth Management LLC increased its stake in AvalonBay Communities by 546.9% in the first quarter. Perigon Wealth Management LLC now owns 1,035 shares of the real estate investment trust’s stock worth $191,000 after buying an additional 875 shares in the last quarter. Eqis Capital Management Inc. purchased a new stake in AvalonBay Communities during the second quarter worth about $201,000. Finally, Bbva Compass Bancshares Inc. purchased a new stake in AvalonBay Communities during the second quarter worth about $206,000. 98.59% of the stock is owned by institutional investors and hedge funds.

About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused 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.

Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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