Ratings Don’t Lie: Will Bank of America (Merrill Lynch) Downgrade Harm Avalonbay Communities Inc (NYSE:AVB) Stock Price Today?

November 23, 2016 - By Marie Mckinney

Ratings Don't Lie: Will Bank of America (Merrill Lynch) Downgrade Harm Avalonbay Communities Inc (NYSE:AVB) Stock Price Today?

Avalonbay Communities Inc (NYSE:AVB) Downgrade

Bank of America (Merrill Lynch) decreased Avalonbay Communities Inc (NYSE:AVB)‘s stock to a Neutral rating from a Buy. This rating change was issued to clients in a analysts report today.

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 22.19% above today’s ($159.24) stock price. Avalonbay Communities Inc. has been the topic of 32 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by SunTrust given on Tuesday, July 21. The stock of AvalonBay Communities Inc (NYSE:AVB) earned “Buy” rating by Deutsche Bank on Wednesday, November 18. The rating was maintained by Jefferies with “Hold” on Wednesday, August 10. JMP Securities initiated it with “Market Perform” rating and $210 target price in Friday, January 8 report. The rating was downgraded by Jefferies on Wednesday, June 8 to “Hold”. The company was initiated on Tuesday, November 10 by BB&T Capital. Barclays Capital maintained the shares of AVB in a report on Thursday, April 14 with “Equal-Weight” rating. The firm earned “Outperform” rating on Friday, February 12 by RBC Capital Markets. The company was upgraded on Tuesday, September 6 by Sandler O’Neill. The stock of AvalonBay Communities Inc (NYSE:AVB) has “Buy” rating given on Tuesday, September 8 by Evercore.

About 554,983 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 2016 Q2. 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.

Teachers Advsrs reported 979,544 shares or 0.31% of all its holdings. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Invest Management Corp has 57,300 shares for 0.12% of their US portfolio. First Advsr Limited Partnership last reported 166,282 shares in the company. Everett Harris And Co Ca accumulated 0.01% or 1,755 shares. The Ontario – Canada-based Brookfield Asset has invested 0.61% in AvalonBay Communities Inc (NYSE:AVB). Morgan Stanley holds 0.19% of its portfolio in AvalonBay Communities Inc (NYSE:AVB) for 2.98M shares. First Citizens Bancorp Tru holds 0.02% or 1,358 shares in its portfolio. The Missouri-based Monetary Grp has invested 0.01% in AvalonBay Communities Inc (NYSE:AVB). Utah Retirement has 0.14% invested in the company for 28,520 shares. Norinchukin Commercial Bank The owns 3,008 shares or 0.01% of their US portfolio. The Massachusetts-based Liberty Mutual Asset Mngmt Inc has invested 0.06% in AvalonBay Communities Inc (NYSE:AVB). Advsr Asset accumulated 1,940 shares or 0.01% of the stock. Cohen Steers Inc accumulated 0% or 10,178 shares. Retirement Design Mgmt Inc Adv has 0.15% invested in the company for 1,355 shares. Sumitomo Life Ins has 9,947 shares for 0.25% of their US portfolio.

Insider Transactions: Since August 8, 2016, the stock had 0 buys, and 2 selling transactions for $1.48 million net activity. Another trade for 6,984 shares valued at $1.29M was sold by Birenbaum Matthew H.. The insider Breslin Sean J. sold 1,000 shares worth $185,711.

AvalonBay Communities, Inc. is a real estate investment trust. The company has a market cap of $22.23 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 23.17 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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