Prudential PLC Sells 49,029 Shares of AvalonBay Communities, Inc. $AVB

Prudential PLC cut its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 95.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,278 shares of the real estate investment trust’s stock after selling 49,029 shares during the period. Prudential PLC’s holdings in AvalonBay Communities were worth $413,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AVB. Empowered Funds LLC grew its position in AvalonBay Communities by 5.7% during the 1st quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock worth $584,000 after acquiring an additional 148 shares during the last quarter. Guggenheim Capital LLC raised its holdings in shares of AvalonBay Communities by 2.8% in the second quarter. Guggenheim Capital LLC now owns 4,759 shares of the real estate investment trust’s stock valued at $968,000 after buying an additional 129 shares during the last quarter. Baird Financial Group Inc. bought a new position in shares of AvalonBay Communities in the second quarter valued at about $1,374,000. Cresset Asset Management LLC raised its holdings in shares of AvalonBay Communities by 14.2% in the second quarter. Cresset Asset Management LLC now owns 2,890 shares of the real estate investment trust’s stock valued at $591,000 after buying an additional 360 shares during the last quarter. Finally, Bank of Nova Scotia raised its holdings in shares of AvalonBay Communities by 9.5% in the second quarter. Bank of Nova Scotia now owns 18,854 shares of the real estate investment trust’s stock valued at $3,837,000 after buying an additional 1,629 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Stock Performance

AvalonBay Communities stock opened at $187.64 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.80. AvalonBay Communities, Inc. has a 1 year low of $160.10 and a 1 year high of $209.86. The company has a market cap of $26.10 billion, a PE ratio of 27.19, a PEG ratio of 3.30 and a beta of 0.78. The company’s 50-day moving average is $178.07 and its two-hundred day moving average is $177.45.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. The business had revenue of $770.28 million for the quarter, compared to analyst estimates of $768.80 million. During the same quarter in the previous year, the company posted $2.83 earnings per share. Equities analysts anticipate that AvalonBay Communities, Inc. will post 11.31 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on AVB shares. Barclays cut their price target on AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $203.00 price target (down from $208.00) on shares of AvalonBay Communities in a report on Thursday, March 26th. Cantor Fitzgerald lifted their price target on AvalonBay Communities from $186.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Finally, UBS Group cut their price target on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Five equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $198.44.

AvalonBay Communities Company 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.