AvalonBay Communities, Inc. (AVB) Shares Sold by Twin Capital Management Inc.
Twin Capital Management Inc. lowered its position in AvalonBay Communities, Inc. (NYSE:AVB) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,990 shares of the real estate investment trust’s stock after selling 130 shares during the period. Twin Capital Management Inc.’s holdings in AvalonBay Communities were worth $3,649,000 as of its most recent SEC filing.
Other hedge funds also 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. bought a new stake in AvalonBay Communities during the second quarter worth approximately $201,000. Finally, Bbva Compass Bancshares Inc. bought a new stake in AvalonBay Communities during the second quarter worth approximately $206,000. 97.89% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AvalonBay Communities, Inc. (AVB) opened at 189.78 on Thursday. AvalonBay Communities, Inc. has a one year low of $158.32 and a one year high of $199.52. The stock has a market cap of $26.13 billion, a P/E ratio of 26.14 and a beta of 0.34. The firm has a 50 day moving average of $189.60 and a 200 day moving average of $188.14.
AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by $0.05. The company had revenue of $530.51 million during the quarter, compared to the consensus estimate of $529.48 million. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. During the same period last year, the company earned $2.03 earnings per share. On average, equities research analysts predict that AvalonBay Communities, Inc. will post $5.18 EPS for the current fiscal year.
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A number of analysts recently commented on the stock. BidaskClub downgraded shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Deutsche Bank AG boosted their price objective on shares of AvalonBay Communities from $193.00 to $195.00 and gave the stock a “hold” rating in a report on Friday, August 18th. BMO Capital Markets reissued a “hold” rating and set a $191.00 price objective on shares of AvalonBay Communities in a report on Wednesday, August 2nd. Barclays PLC boosted their price objective on shares of AvalonBay Communities from $188.00 to $189.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 18th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $196.00 price objective on shares of AvalonBay Communities in a report on Tuesday, July 4th. Two 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. AvalonBay Communities has an average rating of “Hold” and an average price target of $193.75.
In other news, insider William M. Mclaughlin sold 5,112 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $193.88, for a total value of $991,114.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.
AvalonBay Communities Company Profile
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.
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