Miles Capital Inc. Has $269,000 Position in AvalonBay Communities, Inc. (AVB)
Miles Capital Inc. increased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 2.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,402 shares of the real estate investment trust’s stock after purchasing an additional 38 shares during the period. Miles Capital Inc.’s holdings in AvalonBay Communities were worth $269,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in AVB. Creative Planning grew its position in AvalonBay Communities by 0.4% during the 2nd quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 2 shares during the last quarter. Perigon Wealth Management LLC increased its stake in AvalonBay Communities by 546.9% during the 1st quarter. Perigon Wealth Management LLC now owns 1,035 shares of the real estate investment trust’s stock valued at $191,000 after purchasing an additional 875 shares in the last quarter. Eqis Capital Management Inc. bought a new stake in AvalonBay Communities during the 2nd quarter valued at about $201,000. Bbva Compass Bancshares Inc. bought a new stake in AvalonBay Communities during the 2nd quarter valued at about $206,000. Finally, West Oak Capital LLC raised its holdings in AvalonBay Communities by 5.7% in the second quarter. West Oak Capital LLC now owns 1,120 shares of the real estate investment trust’s stock worth $215,000 after buying an additional 60 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.
A number of research firms have recently commented on AVB. BidaskClub cut shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. BMO Capital Markets reissued a “hold” rating and set a $191.00 price target on shares of AvalonBay Communities in a research report on Wednesday, August 2nd. 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. Goldman Sachs Group, Inc. (The) lowered shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 price objective for the company. in a report on Tuesday, September 5th. Finally, Argus assumed coverage on AvalonBay Communities in a research report on Thursday, June 22nd. They issued a “buy” rating and a $220.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $196.00.
Shares of AvalonBay Communities, Inc. (NYSE:AVB) traded up 0.09% during trading on Monday, reaching $178.58. The company had a trading volume of 79,720 shares. The company’s 50 day moving average is $187.92 and its 200-day moving average is $188.99. AvalonBay Communities, Inc. has a 1-year low of $158.32 and a 1-year high of $199.52. The stock has a market capitalization of $24.59 billion, a price-to-earnings ratio of 24.59 and a beta of 0.36.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data 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). The company had revenue of $530.51 million for the quarter, compared to analysts’ expectations of $529.48 million. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. During the same quarter in the previous year, the business posted $2.03 EPS. On average, equities research analysts anticipate that AvalonBay Communities, Inc. will post $5.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, September 28th. AvalonBay Communities’s dividend payout ratio (DPR) is 78.13%.
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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