AvalonBay Communities (AVB) Cut to Sell at Zelman & Associates

AvalonBay Communities (NYSE:AVB) was downgraded by Zelman & Associates from a “hold” rating to a “sell” rating in a research report issued on Monday, The Fly reports.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $166.00 price objective on shares of AvalonBay Communities in a research note on Friday, April 13th. Zacks Investment Research raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Tuesday, April 17th. Stifel Nicolaus decreased their price objective on AvalonBay Communities from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, April 30th. ValuEngine cut AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, BTIG Research cut AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $208.00 price objective for the company. in a research note on Thursday, May 31st. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company’s stock. AvalonBay Communities has a consensus rating of “Hold” and an average target price of $191.53.

Shares of AvalonBay Communities traded up $0.16, hitting $180.24, during midday trading on Monday, according to MarketBeat.com. The stock had a trading volume of 37,395 shares, compared to its average volume of 598,801. The stock has a market capitalization of $24.89 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 2.72 and a beta of 0.39. AvalonBay Communities has a fifty-two week low of $152.65 and a fifty-two week high of $193.41. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.75 and a current ratio of 0.75.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Monday, July 30th. The real estate investment trust reported $1.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.20 by ($0.36). The firm had revenue of $569.24 million during the quarter, compared to analyst estimates of $565.41 million. AvalonBay Communities had a net margin of 39.01% and a return on equity of 8.42%. During the same period last year, the business posted $2.09 earnings per share. equities research analysts forecast that AvalonBay Communities will post 8.99 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of AVB. Global X Management Co. LLC lifted its holdings in AvalonBay Communities by 23.0% during the first quarter. Global X Management Co. LLC now owns 4,932 shares of the real estate investment trust’s stock worth $811,000 after acquiring an additional 923 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of AvalonBay Communities by 18.1% in the first quarter. Daiwa Securities Group Inc. now owns 26,637 shares of the real estate investment trust’s stock valued at $4,381,000 after purchasing an additional 4,087 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its holdings in shares of AvalonBay Communities by 28.1% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 92,165 shares of the real estate investment trust’s stock valued at $15,055,000 after purchasing an additional 20,237 shares in the last quarter. American Assets Investment Management LLC lifted its holdings in shares of AvalonBay Communities by 192.3% in the first quarter. American Assets Investment Management LLC now owns 15,200 shares of the real estate investment trust’s stock valued at $2,500,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of AvalonBay Communities by 2.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 45,961 shares of the real estate investment trust’s stock valued at $7,559,000 after purchasing an additional 884 shares in the last quarter. Hedge funds and other institutional investors own 93.41% of the company’s stock.

About AvalonBay Communities

As of March 31, 2018, the Company owned or held a direct or indirect ownership interest in 288 apartment communities containing 84,162 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development and 15 communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

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