Edgestream Partners L.P. Cuts Stake in AvalonBay Communities, Inc. $AVB

Edgestream Partners L.P. lessened its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 67.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,550 shares of the real estate investment trust’s stock after selling 17,674 shares during the period. Edgestream Partners L.P.’s holdings in AvalonBay Communities were worth $1,740,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in AvalonBay Communities during the 2nd quarter worth approximately $1,394,225,000. Nuveen LLC acquired a new stake in shares of AvalonBay Communities in the first quarter worth approximately $280,226,000. Charles Schwab Investment Management Inc. increased its position in shares of AvalonBay Communities by 23.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,816,163 shares of the real estate investment trust’s stock worth $573,091,000 after purchasing an additional 530,274 shares in the last quarter. PGGM Investments raised its stake in AvalonBay Communities by 7,782.9% in the 2nd quarter. PGGM Investments now owns 478,966 shares of the real estate investment trust’s stock valued at $97,470,000 after purchasing an additional 472,890 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in AvalonBay Communities by 7.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,520,036 shares of the real estate investment trust’s stock valued at $1,184,712,000 after purchasing an additional 367,853 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

AvalonBay Communities stock opened at $177.87 on Friday. The firm has a 50 day simple moving average of $182.47 and a 200-day simple moving average of $192.67. The stock has a market cap of $25.19 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 2.96 and a beta of 0.74. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.67 and a quick ratio of 0.67. AvalonBay Communities, Inc. has a 1-year low of $166.73 and a 1-year high of $231.21.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 EPS for the quarter, missing the consensus estimate of $2.81 by ($0.06). The firm had revenue of $766.80 million for the quarter, compared to analysts’ expectations of $766.22 million. AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.72%. During the same period in the previous year, the firm posted $2.74 EPS. On average, analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, December 31st. AvalonBay Communities’s dividend payout ratio is 85.47%.

Wall Street Analysts Forecast Growth

AVB has been the subject of a number of research reports. Cantor Fitzgerald assumed coverage on shares of AvalonBay Communities in a report on Wednesday, October 1st. They set a “neutral” rating and a $205.00 target price for the company. Royal Bank Of Canada dropped their price objective on shares of AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. UBS Group decreased their target price on shares of AvalonBay Communities from $216.00 to $192.00 and set a “neutral” rating on the stock in a research note on Monday, November 10th. Scotiabank dropped their price target on AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. Finally, Wells Fargo & Company cut their price target on AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Six equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $205.89.

AvalonBay Communities Company Profile

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.