The stock of AvalonBay Communities Inc (NYSE:AVB) is a huge mover today! The stock decreased 3.23% or $5.58 on October 5, hitting $167.09. AvalonBay Communities Inc (NYSE:AVB) has declined 3.30% since March 2, 2016 and is downtrending. It has underperformed by 11.56% the S&P500.
The move comes after 8 months negative chart setup for the $23.03 billion company. It was reported on Oct, 5 by Barchart.com. We have $155.39 PT which if reached, will make NYSE:AVB worth $1.61 billion less.
Analysts await AvalonBay Communities Inc (NYSE:AVB) to report earnings on October, 24. They expect $2.11 earnings per share, up 4.46% or $0.09 from last year’s $2.02 per share. AVB’s profit will be $290.82 million for 19.80 P/E if the $2.11 EPS becomes a reality. After $2.03 actual earnings per share 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. As per Monday, March 7, the company rating was downgraded by BMO Capital Markets. On Thursday, August 27 the stock rating was downgraded by Zacks to “Buy”. JMP Securities initiated it with “Market Perform” rating and $210 target price in Friday, January 8 report. The rating was initiated by BB&T Capital on Tuesday, November 10 with “Underweight”. The rating was maintained by RBC Capital Markets with “Outperform” on Friday, February 12. UBS downgraded the stock to “Neutral” rating in Monday, April 11 report. The stock of AvalonBay Communities Inc (NYSE:AVB) earned “Hold” rating by Jefferies on Wednesday, August 10. The firm earned “” rating on Friday, July 15 by KeyBanc Capital Markets. The rating was maintained by RBC Capital Markets on Tuesday, May 3 with “Outperform”. On Thursday, August 25 the stock rating was initiated by BTIG Research with “Buy”.
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 improved, 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.
The Switzerland-based Gam Ag has invested 0.03% in AvalonBay Communities Inc (NYSE:AVB). Renaissance Technologies Lc holds 0.31% or 911,914 shares in its portfolio. The Pennsylvania-based Tfs Limited Liability Company has invested 0.4% in AvalonBay Communities Inc (NYSE:AVB). Deere Co has 6,172 shares for 0.06% of their US portfolio. Dnb Asset Management As has invested 0% of its portfolio in AvalonBay Communities Inc (NYSE:AVB). Landscape Cap Mngmt Lc, a New Jersey-based fund reported 18,200 shares. Walleye Trading Ltd Limited Liability Company owns 8,123 shares or 0.01% of their US portfolio. D E Shaw & Incorporated has 164,708 shares for 0.05% of their US portfolio. Prudential Pcl, a Illinois-based fund reported 6,400 shares. Usca Ria Ltd Liability owns 1,170 shares or 0.04% of their US portfolio. Norinchukin Fincl Bank The holds 0.01% of its portfolio in AvalonBay Communities Inc (NYSE:AVB) for 3,008 shares. Numeric Invsts Ltd Liability Corporation reported 25,600 shares or 0.04% of all its holdings. First Advsr Limited Partnership last reported 0.09% of its portfolio in the stock. Lafayette Investments last reported 0.1% of its portfolio in the stock. Retail Bank Of Nova Scotia has 0% invested in the company for 2,736 shares.
Insider Transactions: Since May 2, 2016, the stock had 0 insider purchases, and 10 insider sales for $21.07 million net activity. $11.33M worth of AvalonBay Communities Inc (NYSE:AVB) was sold by NAUGHTON TIMOTHY J on Tuesday, May 10. Another trade for 5,323 shares valued at $1.01 million was sold by SCHULMAN EDWARD M. Breslin Sean J. sold 4,426 shares worth $801,447. 9,182 shares were sold by HOREY LEO S III, worth $1.73M on Friday, May 6. $921,489 worth of AvalonBay Communities Inc (NYSE:AVB) was sold by Wilson Stephen W on Monday, May 2. $1.29M worth of AvalonBay Communities Inc (NYSE:AVB) was sold by Birenbaum Matthew H. on Monday, August 8. $702,760 worth of AvalonBay Communities Inc (NYSE:AVB) was sold by Shea Keri A.
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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