Cibc World Market Inc. Makes New Investment in AvalonBay Communities, Inc. $AVB

Cibc World Market Inc. bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 28,275 shares of the real estate investment trust’s stock, valued at approximately $5,335,000.

Other institutional investors have also recently made changes to their positions in the company. Reflection Asset Management bought a new stake in AvalonBay Communities in the 4th quarter valued at about $25,000. Clearstead Trust LLC boosted its position in AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 56 shares during the period. Zions Bancorporation National Association UT boosted its position in AvalonBay Communities by 300.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares during the period. BOKF NA purchased a new position in shares of AvalonBay Communities in the third quarter worth about $31,000. Finally, Elyxium Wealth LLC purchased a new position in shares of AvalonBay Communities in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Jefferies Financial Group upgraded shares of AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 target price on shares of AvalonBay Communities in a report on Wednesday, August 19th. Barclays increased their target price on AvalonBay Communities from $205.00 to $206.00 and gave the stock an “equal weight” rating in a research report on Monday, August 17th. Finally, Scotiabank raised their price target on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a report on Thursday, July 9th. Three research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $196.87.

AvalonBay Communities Price Performance

AVB stock opened at $184.06 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.54 and a quick ratio of 0.54. AvalonBay Communities, Inc. has a one year low of $160.10 and a one year high of $198.63. The stock has a market cap of $26.28 billion, a PE ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76. The firm has a 50 day simple moving average of $187.67 and a two-hundred day simple moving average of $180.57.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). The firm had revenue of $777.77 million for the quarter, compared to analysts’ expectations of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same quarter in the previous year, the business earned $2.82 EPS. On average, analysts predict that AvalonBay Communities, Inc. will post 11.33 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio is 116.34%.

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.