The stock of AvalonBay Communities Inc (NYSE:AVB) gapped down by $0.2 today and has $165.04 target or 5.00% below today’s $173.73 share price. The 5 months technical chart setup indicates high risk for the $23.94B company. The gap down was reported on Oct, 4 by Barchart.com. If the $165.04 price target is reached, the company will be worth $1.20B less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 2.29% or $4.08 on October 3, hitting $173.73. AvalonBay Communities Inc (NYSE:AVB) has declined 2.20% since March 1, 2016 and is downtrending. It has underperformed by 14.41% the S&P500.
Analysts await AvalonBay Communities Inc (NYSE:AVB) to report earnings on October, 24. They expect $2.11 EPS, up 4.46% or $0.09 from last year’s $2.02 per share. AVB’s profit will be $290.76 million for 20.58 P/E if the $2.11 EPS becomes a reality. After $2.03 actual EPS reported by AvalonBay Communities Inc for the previous quarter, Wall Street now forecasts 3.94% EPS growth.
AvalonBay Communities Inc (NYSE:AVB) Ratings Coverage
Out of 17 analysts covering Avalonbay Communities Inc. (NYSE:AVB), 8 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 47% are positive. Avalonbay Communities Inc. has been the topic of 32 analyst reports since July 21, 2015 according to StockzIntelligence Inc. BB&T Capital initiated the stock with “Underweight” rating in Tuesday, November 10 report. The rating was downgraded by Evercore on Friday, July 15 to “Hold”. The company was maintained on Friday, February 12 by RBC Capital Markets. The stock of AvalonBay Communities Inc (NYSE:AVB) earned “Buy” rating by Deutsche Bank on Wednesday, November 18. The stock has “Outperform” rating given by Robert W. Baird on Friday, December 11. UBS downgraded the stock to “Neutral” rating in Monday, April 11 report. The firm has “Market Perform” rating by BMO Capital Markets given on Monday, March 7. Jefferies maintained AvalonBay Communities Inc (NYSE:AVB) on Wednesday, August 10 with “Hold” rating. The stock of AvalonBay Communities Inc (NYSE:AVB) earned “Buy” rating by Sandler O’Neill on Tuesday, September 6. Jefferies downgraded the stock to “Hold” rating in Wednesday, June 8 report.
According to Zacks Investment Research, “AvalonBay Communities, Inc. is a real estate investment trust. They focus on the ownership and operation of upscale apartment communities in high barrier-to-entry markets of the United States. These markets include Northern and Southern California and selected states in the Mid-Atlantic, Northeast, Midwest and Pacific Northwest regions of the country. AvalonBay is the surviving corporation from the merger of Avalon Properties, Inc. with and into Bay Apartment Communities, Inc.”
Insitutional Activity: The institutional sentiment increased to 1.26 in 2016 Q2. Its up 0.01, from 1.25 in 2016Q1. The ratio increased, as 37 funds sold all AvalonBay Communities Inc shares owned while 134 reduced positions. 47 funds bought stakes while 169 increased positions. They now own 130.20 million shares or 5.40% less from 137.63 million shares in 2016Q1.
Us Natl Bank De accumulated 0.01% or 17,012 shares. Arrowstreet Capital Limited Partnership holds 253,512 shares or 0.15% of its portfolio. Louisiana State Employees Retirement Systems holds 0.09% or 9,000 shares in its portfolio. Rhumbline Advisers last reported 0.12% of its portfolio in the stock. Farmers Merchants Invs last reported 45 shares in the company. Bp Public Ltd Company has 0.14% invested in the company for 19,000 shares. Jpmorgan Chase And holds 7.57 million shares or 0.34% of its portfolio. Glovista Investments Ltd Liability accumulated 5,330 shares or 0.17% of the stock. Ngam L P, a Massachusetts-based fund reported 79,273 shares. Raymond James Tru Na, a Florida-based fund reported 1,244 shares. Hartford Inv Management last reported 33,462 shares in the company. Numeric Ltd Liability Com holds 25,600 shares or 0.04% of its portfolio. State Of New Jersey Common Pension Fund D has 349,000 shares for 0.29% of their US portfolio. California Pub Employees Retirement Sys holds 320,096 shares or 0.09% of its portfolio. Retirement Of Alabama last reported 0.15% of its portfolio in the stock.
Insider Transactions: Since May 2, 2016, the stock had 0 insider purchases, and 10 sales for $21.07 million net activity. 5,117 shares were sold by Wilson Stephen W, worth $921,489 on Monday, May 2. Breslin Sean J. sold $801,447 worth of stock or 4,426 shares. SCHULMAN EDWARD M sold $1.01 million worth of stock. $1.29 million worth of AvalonBay Communities Inc (NYSE:AVB) shares were sold by Birenbaum Matthew H.. Shares for $702,760 were sold by Shea Keri A. HOREY LEO S III had sold 9,182 shares worth $1.73 million on Friday, May 6. O’Shea Kevin P. sold $1.18M worth of AvalonBay Communities Inc (NYSE:AVB) on Monday, May 2.
More recent AvalonBay Communities Inc (NYSE:AVB) news were published by: Forbes.com which released: “AvalonBay Communities Enters Oversold Territory” on August 24, 2016. Also Businesswire.com published the news titled: “AvalonBay Communities, Inc. Announces First Quarter 2016 Operating Results” on April 27, 2016. Businesswire.com‘s news article titled: “AvalonBay Communities, Inc. Announces Second Quarter 2016 Operating Results …” with publication date: July 25, 2016 was also an interesting one.
AVB Company Profile
AvalonBay Communities, Inc., incorporated on March 13, 1995, is a real estate investment trust (REIT). The Firm focuses on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California. The Firm operates through divisions, which include Established Communities, Other Stabilized Communities and Development/Redevelopment Communities. The Firm owns or holds an interest in approximately 260 operating apartment communities containing over 75,380 apartment homes in approximately 10 states and the District of Columbia, of which over 10 communities containing approximately 3,430 apartment homes are under reconstruction. The Firm operates its apartment communities under three core brands: Avalon, AVA and Eaves by Avalon.
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