Commonwealth Bank of Australia cut its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 19.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,690 shares of the real estate investment trust’s stock after selling 1,409 shares during the quarter. Commonwealth Bank of Australia’s holdings in AvalonBay Communities were worth $1,093,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AVB. Creative Planning grew its position in shares of AvalonBay Communities by 0.4% in the 2nd quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 2 shares during the period. Muzinich & Co. Inc. grew its position in shares of AvalonBay Communities by 104.0% in the 1st 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 during the period. Perigon Wealth Management LLC grew its position in shares of AvalonBay Communities by 546.9% in the 1st 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 during the period. Eqis Capital Management Inc. purchased a new stake in shares of AvalonBay Communities in the 2nd quarter worth about $201,000. Finally, Bbva Compass Bancshares Inc. purchased a new stake in shares of AvalonBay Communities in the 2nd quarter worth about $206,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on AVB shares. BMO Capital Markets reaffirmed a “hold” rating and issued a $191.00 target price on shares of AvalonBay Communities in a research report on Thursday, May 25th. Argus started coverage on shares of AvalonBay Communities in a research report on Thursday, June 22nd. They issued a “buy” rating and a $220.00 target price on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $196.00 target price on shares of AvalonBay Communities in a research report on Tuesday, July 4th. BidaskClub downgraded shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $203.00 target price on shares of AvalonBay Communities in a research report on Sunday, July 16th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. AvalonBay Communities currently has a consensus rating of “Hold” and an average price target of $195.47.

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AvalonBay Communities, Inc. (NYSE AVB) opened at 183.77 on Friday. The firm’s 50-day moving average is $188.49 and its 200 day moving average is $188.91. The company has a market cap of $25.31 billion, a PE ratio of 25.31 and a beta of 0.35. AvalonBay Communities, Inc. has a 1-year low of $158.32 and a 1-year high of $199.52.

AvalonBay Communities (NYSE:AVB) last issued its quarterly 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 return on equity of 9.88% and a net margin of 47.90%. The business had revenue of $530.51 million for the quarter, compared to analysts’ expectations of $529.48 million. During the same quarter in the previous year, the firm posted $2.03 EPS. Analysts predict that AvalonBay Communities, Inc. will post $5.19 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.09%. AvalonBay Communities’s payout ratio is 78.13%.

AvalonBay Communities 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.

Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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