Janney Montgomery Scott LLC Decreases Holdings in AvalonBay Communities, Inc. $AVB

Janney Montgomery Scott LLC decreased its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 43.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,271 shares of the real estate investment trust’s stock after selling 29,614 shares during the period. Janney Montgomery Scott LLC’s holdings in AvalonBay Communities were worth $6,415,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Reflection Asset Management purchased a new stake in AvalonBay Communities during the fourth quarter valued at approximately $25,000. Zions Bancorporation National Association UT boosted its holdings in shares of AvalonBay Communities by 300.0% in the 4th 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 bought a new position in shares of AvalonBay Communities during the 3rd quarter valued at approximately $31,000. Elyxium Wealth LLC bought a new position in shares of AvalonBay Communities during the 4th quarter valued at approximately $32,000. Finally, Headlands Technologies LLC purchased a new stake in AvalonBay Communities during the 2nd quarter valued at $36,000. 92.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AVB. Scotiabank lowered their price target on AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating for the company in a research report on Thursday, May 14th. Morgan Stanley reissued an “equal weight” rating and issued a $203.00 target price (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. Royal Bank Of Canada raised their target price on shares of AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Wolfe Research upgraded shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price for the company in a report on Monday, June 1st. Finally, Piper Sandler lifted their price target on shares of AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Four research analysts have rated the stock with a Buy rating and fourteen 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 $195.13.

AvalonBay Communities Stock Down 0.2%

Shares of NYSE AVB opened at $193.62 on Friday. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $205.00. The firm has a market capitalization of $26.93 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 3.38 and a beta of 0.77. The stock has a 50 day moving average price of $184.68 and a 200 day moving average price of $178.34. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.62 and a current ratio of 0.62.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.47). The firm had revenue of $770.28 million for the quarter, compared to analysts’ expectations of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same quarter in the previous year, the business earned $2.83 earnings per share. Sell-side analysts expect that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $1.78 per share. The ex-dividend date is Tuesday, June 30th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 103.19%.

AvalonBay Communities Company 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.