Rating Change: BofA Merrill Reports Downgrade of AvalonBay (AVB) from “Buy” to “Neutral” Rating

November 23, 2016 - By Marguerite Chambers

Rating Change: BofA Merrill Reports Downgrade of AvalonBay (AVB) from

AvalonBay (AVB) Downgrade

BofA Merrill has lowered AvalonBay (AVB) stock to “Neutral” in a a note shared with investors on 23 November. AVB’s old rating was “Buy”.

About 183,380 shares traded hands. AvalonBay Communities Inc (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 fall, 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.

Independent Order Of Foresters has 5.27% invested in the company for 39,528 shares. Utah Retirement holds 0.14% of its portfolio in AvalonBay Communities Inc (NYSE:AVB) for 28,520 shares. Tokio Marine Asset Ltd last reported 0.07% of its portfolio in the stock. Geode Capital Mgmt Lc owns 1.35M shares or 0.13% of their US portfolio. Creative Planning accumulated 4,043 shares or 0.01% of the stock. Envestnet Asset Management accumulated 0.01% or 16,628 shares. Gemmer Asset Mngmt Ltd Liability Corp owns 332 shares or 0.03% of their US portfolio. Credit Agricole S A last reported 342,713 shares in the company. The Netherlands-based Kempen Capital Mngmt Nv has invested 0.77% in AvalonBay Communities Inc (NYSE:AVB). Grassi Investment reported 4,135 shares or 0.14% of all its holdings. The Switzerland-based Credit Suisse Ag has invested 0.12% in AvalonBay Communities Inc (NYSE:AVB). National Bank Of Nova Scotia reported 2,736 shares or 0% of all its holdings. Mutual Of America Cap Lc last reported 0.06% of its portfolio in the stock. Ontario Teachers Pension Plan Board accumulated 35,467 shares or 0.07% of the stock. Dnb Asset As, a Norway-based fund reported 10,278 shares.

Insider Transactions: Since August 8, 2016, the stock had 0 insider purchases, and 2 insider sales for $1.48 million net activity. $185,711 worth of AvalonBay Communities Inc (NYSE:AVB) was sold by Breslin Sean J. on Tuesday, August 9. Birenbaum Matthew H. sold 6,984 shares worth $1.29M.

AvalonBay Communities, Inc. is a real estate investment trust. The company has a market cap of $22.25 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 23.19 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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