November 28, 2016 - By Richard Conner
Professional analysts at Evercore ISI Group’s equity division upped AvalonBay Communities (NYSE:AVB)‘s stock from a “Hold” to “Buy” on Monday, 28 November.
Out of 18 analysts covering Avalonbay Communities Inc. (NYSE:AVB), 8 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 44% are positive. $210 is the highest target while $180 is the lowest. The $194.57 average target is 19.87% above today’s ($162.32) stock price. Avalonbay Communities Inc. has been the topic of 33 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was upgraded by Credit Suisse on Thursday, August 20 to “Outperform”. As per Tuesday, May 3, the company rating was maintained by RBC Capital Markets. The firm has “Buy” rating given on Thursday, August 27 by Zacks. SunTrust initiated the stock with “Buy” rating in Tuesday, July 21 report. The firm has “Market Perform” rating by Cowen & Co given on Tuesday, January 12. The firm has “Buy” rating given on Friday, October 16 by Suntrust Robinson. The rating was upgraded by Robert W. Baird to “Outperform” on Friday, December 11. As per Thursday, April 14, the company rating was maintained by Barclays Capital. The stock of AvalonBay Communities Inc (NYSE:AVB) has “Outperform” rating given on Friday, February 12 by RBC Capital Markets. The rating was downgraded by KeyBanc Capital Markets on Friday, July 15 to “”.
About 352,351 shares traded hands. AvalonBay Communities Inc (NYSE:AVB) has declined 11.42% since April 25, 2016 and is downtrending. It has underperformed by 17.44% the S&P500.
Analysts await AvalonBay Communities Inc (NYSE:AVB) to report earnings on February, 1. They expect $2.12 EPS, up 6.53% or $0.13 from last year’s $1.99 per share. AVB’s profit will be $291.90M for 19.14 P/E if the $2.12 EPS becomes a reality. After $2.11 actual EPS reported by AvalonBay Communities Inc for the previous quarter, Wall Street now forecasts 0.47% EPS growth.
Insitutional Activity: The institutional sentiment decreased to 0.79 in 2016 Q2. Its down 0.47, from 1.26 in 2016Q1. The ratio worsened, 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.
Clearbridge Investments Ltd Liability Com has invested 0.04% of its portfolio in AvalonBay Communities Inc (NYSE:AVB). Babson Cap Limited Liability Corporation holds 6,799 shares or 0.03% of its portfolio. Alpine Woods Capital Investors Ltd has 0.82% invested in the company for 76,085 shares. Globeflex Capital L P holds 0.27% of its portfolio in AvalonBay Communities Inc (NYSE:AVB) for 5,371 shares. British Columbia Inv Mngmt Corporation accumulated 77,833 shares or 0.12% of the stock. Automobile Association last reported 0.03% of its portfolio in the stock. De Burlo Grp Incorporated, a Massachusetts-based fund reported 35,500 shares. Lord Abbett Ltd Company has 0.26% invested in the company for 453,150 shares. Janney Montgomery Scott Limited reported 1,617 shares or 0% of all its holdings. Alyeska Inv Gru L P has 10,865 shares for 0.02% of their US portfolio. The Pennsylvania-based Vanguard Grp has invested 0.24% in AvalonBay Communities Inc (NYSE:AVB). The Florida-based Raymond James Na has invested 0.02% in AvalonBay Communities Inc (NYSE:AVB). Principal Fin Inc last reported 0.63% of its portfolio in the stock. Pax Mgmt Limited Liability reported 40,000 shares or 0.42% of all its holdings. Franklin Res has invested 0.01% of its portfolio in AvalonBay Communities Inc (NYSE:AVB).
Insider Transactions: Since August 8, 2016, the stock had 0 insider purchases, and 2 sales for $1.48 million net activity. 1,000 AvalonBay Communities Inc (NYSE:AVB) shares with value of $185,711 were sold by Breslin Sean J.. The insider Birenbaum Matthew H. sold 6,984 shares worth $1.29 million.
AvalonBay Communities, Inc. is a real estate investment trust. The company has a market cap of $22.35 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 23.62 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.”
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 notable 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 with their article: “AvalonBay Communities, Inc. Announces Third Quarter 2016 Operating Results” published on October 24, 2016, Moodys.com published: “Moody’s upgrades AvalonBay to A3, outlook stable” on October 07, 2016. More interesting news about AvalonBay Communities Inc (NYSE:AVB) were released by: Businesswire.com and their article: “AvalonBay Communities, Inc. Announces First Quarter 2016 Operating Results” published on April 27, 2016 as well as Seekingalpha.com‘s news article titled: “Evercore lifts trio of apartment REITs” with publication date: November 28, 2016.
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