Pacific Sun Financial Corp Invests $601,000 in AvalonBay Communities, Inc. $AVB

Pacific Sun Financial Corp acquired a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,159 shares of the real estate investment trust’s stock, valued at approximately $601,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clearstead Trust LLC boosted its stake in AvalonBay Communities by 56.0% in the 1st quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 56 shares in the last quarter. Red Spruce Capital LLC raised its holdings in shares of AvalonBay Communities by 0.8% in the second quarter. Red Spruce Capital LLC now owns 7,985 shares of the real estate investment trust’s stock worth $1,507,000 after buying an additional 60 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of AvalonBay Communities by 1.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock worth $649,000 after buying an additional 60 shares during the last quarter. Keybank National Association OH lifted its stake in shares of AvalonBay Communities by 2.6% during the fourth quarter. Keybank National Association OH now owns 2,458 shares of the real estate investment trust’s stock worth $446,000 after buying an additional 62 shares during the period. Finally, Arbor Capital Management Inc. ADV lifted its stake in shares of AvalonBay Communities by 1.4% during the first quarter. Arbor Capital Management Inc. ADV now owns 6,540 shares of the real estate investment trust’s stock worth $1,090,000 after buying an additional 90 shares during the period. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Price Performance

AVB stock opened at $184.06 on Wednesday. AvalonBay Communities, Inc. has a one year low of $160.10 and a one year high of $198.63. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.54 and a current ratio of 0.54. The firm’s fifty day moving average is $187.80 and its 200 day moving average is $180.28. The firm has a market cap of $26.28 billion, a PE ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.The firm had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. During the same quarter last year, the company posted $2.82 EPS. On average, research analysts forecast that AvalonBay Communities, Inc. will post 11.33 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. AvalonBay Communities’s dividend payout ratio is presently 116.34%.

Analyst Upgrades and Downgrades

AVB has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price objective on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Scotiabank lifted their price target on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 9th. Wall Street Zen upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Jefferies Financial Group raised AvalonBay Communities to a “hold” rating in a report on Wednesday, July 22nd. Finally, Barclays raised their price objective on AvalonBay Communities from $205.00 to $206.00 and gave the stock an “equal weight” rating in a research note on Monday. Three research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $196.87.

AvalonBay Communities Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.