Quantinno Capital Management LP Sells 23,317 Shares of AvalonBay Communities, Inc. $AVB

Quantinno Capital Management LP cut its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 40.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,396 shares of the real estate investment trust’s stock after selling 23,317 shares during the period. Quantinno Capital Management LP’s holdings in AvalonBay Communities were worth $5,619,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Reflection Asset Management purchased a new stake in shares of AvalonBay Communities during the 4th quarter valued at about $25,000. Clearstead Trust LLC lifted its position in AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 56 shares during the period. Zions Bancorporation National Association UT lifted its position in AvalonBay Communities by 300.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares during the period. BOKF NA purchased a new stake in AvalonBay Communities in the third quarter worth approximately $31,000. Finally, Elyxium Wealth LLC purchased a new stake in AvalonBay Communities in the fourth quarter worth approximately $32,000. 92.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AVB has been the subject of a number of research reports. 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 note on Tuesday, July 14th. Weiss Ratings upgraded AvalonBay Communities from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 23rd. Cantor Fitzgerald raised their target price on AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Jefferies Financial Group upgraded AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Truist Financial upped their price target on shares of AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Three research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $196.80.

AvalonBay Communities Stock Down 1.5%

AVB stock opened at $186.78 on Friday. AvalonBay Communities, Inc. has a twelve month low of $160.10 and a twelve month high of $198.63. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74. The stock has a market cap of $26.67 billion, a P/E ratio of 30.52, a PEG ratio of 3.29 and a beta of 0.76. The business’s 50-day moving average price is $188.11 and its 200-day moving average price is $179.94.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter last year, the firm posted $2.82 earnings per share. On average, equities research analysts forecast that AvalonBay Communities, Inc. will post 11.31 EPS for the current year.

AvalonBay Communities Dividend Announcement

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

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.