TD Asset Management Inc Sells 6,569 Shares of AvalonBay Communities, Inc. $AVB

TD Asset Management Inc reduced its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 6.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 103,626 shares of the real estate investment trust’s stock after selling 6,569 shares during the period. TD Asset Management Inc’s holdings in AvalonBay Communities were worth $18,788,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. BOKF NA bought a new stake in shares of AvalonBay Communities during the 3rd quarter worth $31,000. Elyxium Wealth LLC bought a new stake in shares of AvalonBay Communities during the 4th quarter worth $32,000. AlphaQuest LLC bought a new stake in shares of AvalonBay Communities during the 3rd quarter worth $33,000. Headlands Technologies LLC bought a new stake in shares of AvalonBay Communities during the 2nd quarter worth $36,000. Finally, Fulcrum Asset Management LLP bought a new stake in shares of AvalonBay Communities during the 3rd quarter worth $37,000. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Price Performance

Shares of AVB opened at $189.72 on Monday. AvalonBay Communities, Inc. has a 1 year low of $160.10 and a 1 year high of $209.86. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62. The company has a market capitalization of $26.39 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 3.30 and a beta of 0.78. The business has a 50-day moving average of $177.59 and a 200-day moving average of $177.38.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data 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 return on equity of 9.56% and a net margin of 37.21%.The company had revenue of $770.28 million for the quarter, compared to the consensus estimate of $768.80 million. During the same quarter last year, the business earned $2.83 earnings per share. As a group, equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.31 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Truist Financial dropped their target price on AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of AvalonBay Communities in a research report on Wednesday, April 8th. Barclays dropped their target price on AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Citigroup dropped their target price on AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Finally, Wolfe Research upgraded AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price for the company in a research report on Monday, June 1st. Five research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and a consensus price target of $198.44.

AvalonBay Communities 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.