6,168 Shares in AvalonBay Communities, Inc. $AVB Bought by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. bought a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the 2nd quarter, Holdings Channel reports. The firm bought 6,168 shares of the real estate investment trust’s stock, valued at approximately $1,164,000.

Other hedge funds have also bought and sold shares of the company. CX Institutional raised its stake in AvalonBay Communities by 81.7% during the 2nd quarter. CX Institutional now owns 992 shares of the real estate investment trust’s stock worth $187,000 after acquiring an additional 446 shares during the period. Pacer Advisors Inc. boosted its position in shares of AvalonBay Communities by 0.7% in the first quarter. Pacer Advisors Inc. now owns 16,278 shares of the real estate investment trust’s stock worth $2,659,000 after purchasing an additional 111 shares during the period. Empowered Funds LLC boosted its position in shares of AvalonBay Communities by 46.2% in the first quarter. Empowered Funds LLC now owns 5,139 shares of the real estate investment trust’s stock worth $839,000 after purchasing an additional 1,625 shares during the period. NewEdge Advisors LLC increased its stake in shares of AvalonBay Communities by 23.3% in the first quarter. NewEdge Advisors LLC now owns 6,248 shares of the real estate investment trust’s stock worth $1,021,000 after purchasing an additional 1,179 shares in the last quarter. Finally, Groupe la Francaise increased its stake in shares of AvalonBay Communities by 22.2% in the first quarter. Groupe la Francaise now owns 32,072 shares of the real estate investment trust’s stock worth $5,239,000 after purchasing an additional 5,826 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Jefferies Financial Group upgraded AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Royal Bank Of Canada boosted their price objective on AvalonBay Communities from $180.00 to $188.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. Cantor Fitzgerald upped their price objective on AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Finally, Barclays reiterated an “equal weight” rating and set a $205.00 target price (up from $203.00) on shares of AvalonBay Communities in a research report on Tuesday, July 14th. Three research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and an average price target of $196.80.

AvalonBay Communities Stock Performance

Shares of NYSE AVB opened at $189.65 on Thursday. The company has a market cap of $27.08 billion, a P/E ratio of 30.99, a P/E/G ratio of 3.29 and a beta of 0.76. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $198.63. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.54 and a current ratio of 0.54. The firm’s fifty day moving average is $188.07 and its two-hundred day moving average is $179.91.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.11 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.12). The company had revenue of $777.77 million for the quarter, compared to the consensus estimate of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same period last year, the company earned $2.82 EPS. As a group, analysts anticipate that AvalonBay Communities, Inc. will post 11.31 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. AvalonBay Communities’s dividend payout ratio is presently 116.34%.

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.