Sequoia Financial Advisors LLC Trims Stock Position in AvalonBay Communities, Inc. $AVB

Sequoia Financial Advisors LLC decreased its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 60.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,715 shares of the real estate investment trust’s stock after selling 4,176 shares during the period. Sequoia Financial Advisors LLC’s holdings in AvalonBay Communities were worth $444,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AVB. Reflection Asset Management acquired a new stake in AvalonBay Communities during the 4th quarter worth $25,000. Zions Bancorporation National Association UT boosted its stake in AvalonBay Communities by 300.0% in 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 acquiring an additional 120 shares in the last quarter. BOKF NA purchased a new position in shares of AvalonBay Communities during the third quarter worth about $31,000. Elyxium Wealth LLC acquired a new stake in shares of AvalonBay Communities during the fourth quarter worth about $32,000. Finally, Headlands Technologies LLC acquired a new stake in shares of AvalonBay Communities during the second quarter worth about $36,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Performance

NYSE AVB opened at $190.71 on Wednesday. The firm has a market cap of $27.09 billion, a P/E ratio of 27.64, a P/E/G ratio of 3.34 and a beta of 0.77. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $204.68. The business’s 50-day moving average price is $187.09 and its 200 day moving average price is $179.23. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.80.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.47). AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. The company had revenue of $770.28 million for the quarter, compared to analysts’ expectations of $768.80 million. During the same period in the prior year, the company earned $2.83 earnings per share. On average, equities research analysts expect that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio is 103.19%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Jefferies Financial Group raised AvalonBay Communities to a “hold” rating in a research report on Friday, June 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a research report on Monday, July 6th. UBS Group reduced their price objective on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Royal Bank Of Canada increased their price objective on AvalonBay Communities from $180.00 to $188.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Finally, 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 report on Thursday, April 23rd. Three investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $196.80.

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.