Wealthfront Advisers LLC Acquires Shares of 24,281 AvalonBay Communities, Inc. $AVB

Wealthfront Advisers LLC bought a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 24,281 shares of the real estate investment trust’s stock, valued at approximately $4,582,000.

Several other institutional investors have also made changes to their positions in AVB. Reflection Asset Management bought a new stake in AvalonBay Communities during the fourth quarter worth about $25,000. Clearstead Trust LLC increased its holdings in AvalonBay Communities by 56.0% in the 1st quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 56 shares during the period. Zions Bancorporation National Association UT raised its position 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 valued at $29,000 after buying an additional 120 shares in the last quarter. BOKF NA acquired a new position in shares of AvalonBay Communities in the 3rd quarter valued at approximately $31,000. Finally, Elyxium Wealth LLC acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at approximately $32,000. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Price Performance

NYSE:AVB opened at $184.06 on Friday. AvalonBay Communities, Inc. has a one year low of $160.10 and a one year high of $198.63. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.54 and a quick ratio of 0.54. The company 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’s 50 day simple moving average is $187.74 and its 200 day simple moving average is $180.40.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.12). The business had revenue of $777.77 million during the quarter, compared to analyst estimates 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 last year, the company posted $2.82 earnings per share. On average, research analysts anticipate that AvalonBay Communities, Inc. will post 11.33 earnings per share for the current year.

AvalonBay Communities Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AVB shares. Scotiabank raised their target price on AvalonBay Communities from $187.00 to $195.00 and gave the company a “sector perform” rating in a report on Thursday, July 9th. Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Wells Fargo & Company reduced their price objective on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Wolfe Research upgraded AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price on the stock in a research report on Monday, June 1st. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 target price on shares of AvalonBay Communities in a research note on Wednesday. Three research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AvalonBay Communities has a consensus rating of “Hold” and an average price target of $196.87.

About AvalonBay Communities

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.