Noteworthy Rating Filing: What To Expect After AvalonBay Communities (NYSE:AVB)’s Downgrade Rating From Bank of America?

November 23, 2016 - By Winifred Garcia

Noteworthy Rating Filing: What To Expect After AvalonBay Communities (NYSE:AVB)'s Downgrade Rating From Bank of America?

AvalonBay Communities (NYSE:AVB) Downgrade

AvalonBay Communities (NYSE:AVB)‘s “Buy” rating is no longer valid. research professionals at Bank of America lowered AvalonBay Communities (NYSE:AVB)‘s rating to a “Neutral”.

AvalonBay Communities Inc (NYSE:AVB) Ratings Coverage

Out of 17 analysts covering Avalonbay Communities Inc. (NYSE:AVB), 8 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 47% are positive. $210 is the highest target while $180 is the lowest. The $194.57 average target is 22.24% above today’s ($159.17) stock price. Avalonbay Communities Inc. has been the topic of 32 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Wednesday, November 18 the stock rating was maintained by Deutsche Bank with “Buy”. Suntrust Robinson maintained AvalonBay Communities Inc (NYSE:AVB) rating on Friday, October 16. Suntrust Robinson has “Buy” rating and $200 price target. Sandler O’Neill upgraded AvalonBay Communities Inc (NYSE:AVB) on Tuesday, September 6 to “Buy” rating. The rating was initiated by SunTrust with “Buy” on Tuesday, July 21. The firm has “Market Perform” rating by BMO Capital Markets given on Monday, March 7. The stock of AvalonBay Communities Inc (NYSE:AVB) has “Outperform” rating given on Tuesday, May 3 by RBC Capital Markets. Barclays Capital maintained AvalonBay Communities Inc (NYSE:AVB) rating on Thursday, April 14. Barclays Capital has “Equal-Weight” rating and $195 price target. Zacks downgraded the shares of AVB in a report on Thursday, August 27 to “Buy” rating. BTIG Research initiated AvalonBay Communities Inc (NYSE:AVB) rating on Thursday, August 25. BTIG Research has “Buy” rating and $208 price target. The rating was upgraded by Robert W. Baird to “Outperform” on Friday, December 11.

About 437,583 shares traded hands. AvalonBay Communities Inc (NYSE:AVB) has declined 8.57% since April 21, 2016 and is downtrending. It has underperformed by 13.90% the S&P500.

Insitutional Activity: The institutional sentiment decreased to 0.79 in Q2 2016. Its down 0.47, from 1.26 in 2016Q1. The ratio is negative, as 37 funds sold all AvalonBay Communities Inc shares owned while 134 reduced positions. 47 funds bought stakes while 169 increased positions. They now own 130.20 million shares or 5.40% less from 137.63 million shares in 2016Q1.

Bailard last reported 0.06% of its portfolio in the stock. Moreover, Blackrock Advsr Limited Liability has 0.02% invested in AvalonBay Communities Inc (NYSE:AVB) for 132,895 shares. Adelante Cap Mngmt Limited Com last reported 4.54% of its portfolio in the stock. Herndon Cap Lc has 13 shares for 0% of their US portfolio. Kemper Corp Master Retirement Tru last reported 5,003 shares in the company. 1832 Asset Mgmt Limited Partnership has 118,500 shares for 0.09% of their US portfolio. Metropolitan Life Insur New York accumulated 0.11% or 78,061 shares. Oregon Pub Employees Retirement Fund has 0.07% invested in the company for 17,573 shares. Cbre Clarion Secs Lc accumulated 3.91% or 2.76M shares. California State Teachers Retirement has 298,788 shares for 0.12% of their US portfolio. Rs Mngmt Ltd Liability has invested 0.07% of its portfolio in AvalonBay Communities Inc (NYSE:AVB). Nj State Employees Deferred Compensation Plan holds 8,407 shares or 0.32% of its portfolio. Advisor Prtnrs Ltd has 1,763 shares for 0.11% of their US portfolio. Rhumbline Advisers has invested 0.12% of its portfolio in AvalonBay Communities Inc (NYSE:AVB). Wolverine Asset Mngmt Limited Liability owns 694 shares or 0% of their US portfolio.

Insider Transactions: Since August 8, 2016, the stock had 0 insider purchases, and 2 selling transactions for $1.48 million net activity. $185,711 worth of shares were sold by Breslin Sean J. on Tuesday, August 9. 6,984 shares were sold by Birenbaum Matthew H., worth $1.29M.

AvalonBay Communities, Inc. is a real estate investment trust. The company has a market cap of $22.22 billion. The Firm focuses 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. It has a 23.16 P/E ratio. It operates through divisions, which include Established Communities, Other Stabilized Communities and Development/Redevelopment Communities.

According to Zacks Investment Research, “AvalonBay Communities, Inc. is a real estate investment trust. They focus on the ownership and operation of upscale apartment communities in high barrier-to-entry markets of the United States. These markets include Northern and Southern California and selected states in the Mid-Atlantic, Northeast, Midwest and Pacific Northwest regions of the country. AvalonBay is the surviving corporation from the merger of Avalon Properties, Inc. with and into Bay Apartment Communities, Inc.”

AVB Company Profile

AvalonBay Communities, Inc., incorporated on March 13, 1995, is a real estate investment trust (REIT). The Firm focuses 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. The Firm operates through divisions, which include Established Communities, Other Stabilized Communities and Development/Redevelopment Communities. The Firm owns or holds an interest in approximately 260 operating apartment communities containing over 75,380 apartment homes in approximately 10 states and the District of Columbia, of which over 10 communities containing approximately 3,430 apartment homes are under reconstruction. The Firm operates its apartment communities under three core brands: Avalon, AVA and Eaves by Avalon.

More important recent AvalonBay Communities Inc (NYSE:AVB) news were published by: Forbes.com which released: “AvalonBay Communities Enters Oversold Territory” on August 24, 2016, also Businesswire.com published article titled: “AvalonBay Communities, Inc. Announces First Quarter 2016 Operating Results”, Businesswire.com published: “AvalonBay Communities, Inc. Announces Third Quarter 2016 Operating Results” on October 24, 2016. More interesting news about AvalonBay Communities Inc (NYSE:AVB) was released by: Moodys.com and their article: “Moody’s upgrades AvalonBay to A3, outlook stable” with publication date: October 07, 2016.

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