Wealth Enhancement Advisory Services LLC Trims Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Wealth Enhancement Advisory Services LLC lowered its holdings in AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,869 shares of the real estate investment trust’s stock after selling 118 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in AvalonBay Communities were worth $1,773,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. RPg Family Wealth Advisory LLC bought a new stake in AvalonBay Communities during the third quarter valued at approximately $26,000. Brooklyn Investment Group bought a new stake in shares of AvalonBay Communities during the 3rd quarter worth $39,000. Mather Group LLC. lifted its holdings in shares of AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 56 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in AvalonBay Communities in the third quarter worth $51,000. Finally, EverSource Wealth Advisors LLC increased its stake in AvalonBay Communities by 368.3% in the second quarter. EverSource Wealth Advisors LLC now owns 576 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 453 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total value of $5,532,538.59. Following the completion of the sale, the director now directly owns 87,239 shares in the company, valued at $20,367,689.33. This trade represents a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on AVB. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. Mizuho upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $239.00 to $242.00 in a research report on Monday, January 6th. Scotiabank reduced their price target on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Barclays started coverage on shares of AvalonBay Communities in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $243.00 price objective for the company. Finally, Royal Bank of Canada reduced their target price on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $234.53.

View Our Latest Analysis on AvalonBay Communities

AvalonBay Communities Price Performance

AVB stock opened at $218.28 on Wednesday. The stock has a market capitalization of $31.05 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 3.30 and a beta of 0.99. The firm’s 50-day moving average price is $225.15 and its two-hundred day moving average price is $220.50. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. AvalonBay Communities, Inc. has a 12-month low of $169.37 and a 12-month high of $239.29.

AvalonBay Communities (NYSE:AVBGet Free Report) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The business had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. During the same quarter in the prior year, the firm earned $2.66 EPS. As a group, equities analysts predict that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s payout ratio is 93.02%.

AvalonBay Communities Company Profile

(Free Report)

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.

See Also

Want to see what other hedge funds are holding AVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AvalonBay Communities, Inc. (NYSE:AVBFree Report).

Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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