The stock of AvalonBay Communities Inc (NYSE:AVB) hit a new 52-week low and has $149.16 target or 7.00% below today’s $160.39 share price. The 8 months bearish chart indicates high risk for the $22.39B company. The 1-year low was reported on Nov, 23 by Barchart.com. If the $149.16 price target is reached, the company will be worth $1.57B less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 648,683 shares traded hands. AvalonBay Communities Inc (NYSE:AVB) has declined 8.57% since April 21, 2016 and is downtrending. It has underperformed by 13.90% the S&P500.
Analysts await AvalonBay Communities Inc (NYSE:AVB) to report earnings on February, 1. They expect $2.12 EPS, up 6.53% or $0.13 from last year’s $1.99 per share. AVB’s profit will be $295.95 million for 18.91 P/E if the $2.12 EPS becomes a reality. After $2.11 actual EPS reported by AvalonBay Communities Inc for the previous quarter, Wall Street now forecasts 0.47% EPS growth.
AvalonBay Communities Inc (NYSE:AVB) Ratings Coverage
Out of 18 analysts covering Avalonbay Communities Inc. (NYSE:AVB), 8 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 44% are positive. Avalonbay Communities Inc. has been the topic of 33 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Wednesday, August 10 the stock rating was maintained by Deutsche Bank with “Buy”. The company was maintained on Wednesday, August 10 by Jefferies. Barclays Capital maintained the stock with “Equal-Weight” rating in Thursday, April 14 report. BB&T Capital initiated the stock with “Underweight” rating in Tuesday, November 10 report. The firm has “Outperform” rating given on Thursday, August 20 by Credit Suisse. Suntrust Robinson maintained AvalonBay Communities Inc (NYSE:AVB) on Friday, October 16 with “Buy” rating. RBC Capital Markets maintained the stock with “Outperform” rating in Tuesday, May 3 report. The firm has “Buy” rating given on Tuesday, July 21 by SunTrust. The stock has “Neutral” rating given by Bank of America on Wednesday, November 23. On Friday, December 11 the stock rating was upgraded by Robert W. Baird to “Outperform”.
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 decreased to 0.79 in 2016 Q2. Its down 0.47, from 1.26 in 2016Q1. The ratio turned negative, 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.
Honeywell Intll owns 91,195 shares or 0.42% of their US portfolio. Muzinich And Inc reported 1,011 shares or 0.08% of all its holdings. Jpmorgan Chase Communications has invested 0.34% of its portfolio in AvalonBay Communities Inc (NYSE:AVB). Sector Pension Invest Board, a Quebec – Canada-based fund reported 26,010 shares. Wolverine Asset Management Ltd Co owns 694 shares or 0% of their US portfolio. Piedmont Advsrs Ltd Co holds 3 shares or 0% of its portfolio. Manning Napier Advisors Ltd Llc holds 0.08% or 71,600 shares in its portfolio. Westpac Banking Corp has 210,272 shares for 0% of their US portfolio. Advisors Preferred Ltd reported 130 shares or 0.01% of all its holdings. Everett Harris & Ca has invested 0.01% of its portfolio in AvalonBay Communities Inc (NYSE:AVB). The Connecticut-based Hartford Invest Mgmt Communication has invested 0.13% in AvalonBay Communities Inc (NYSE:AVB). The Quebec – Canada-based Hexavest has invested 0.36% in AvalonBay Communities Inc (NYSE:AVB). Raymond James & Associates has 0% invested in the company for 6,176 shares. The Louisiana-based Louisiana State Employees Retirement has invested 0.09% in AvalonBay Communities Inc (NYSE:AVB). Salem Capital Management holds 3,027 shares or 0.31% of its portfolio.
Insider Transactions: Since August 8, 2016, the stock had 0 insider buys, and 2 selling transactions for $1.48 million net activity. Another trade for 1,000 shares valued at $185,711 was made by Breslin Sean J. on Tuesday, August 9. Birenbaum Matthew H. also sold $1.29M worth of AvalonBay Communities Inc (NYSE:AVB) shares.
More important 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 article titled: “AvalonBay Communities, Inc. Announces First Quarter 2016 Operating Results”, Businesswire.com published: “AvalonBay Communities, Inc. Announces Third Quarter 2016 Operating Results” on October 24, 2016. More interesting news about AvalonBay Communities Inc (NYSE:AVB) was released by: Moodys.com and their article: “Moody’s upgrades AvalonBay to A3, outlook stable” with publication date: October 07, 2016.
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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