AvalonBay Communities Inc (NYSE:AVB) Shares Sold by Toronto Dominion Bank

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Toronto Dominion Bank trimmed its stake in shares of AvalonBay Communities Inc (NYSE:AVB) by 99.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 184 shares of the real estate investment trust’s stock after selling 138,703 shares during the quarter. Toronto Dominion Bank’s holdings in AvalonBay Communities were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its position in shares of AvalonBay Communities by 8.2% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 210,019 shares of the real estate investment trust’s stock worth $32,477,000 after purchasing an additional 15,906 shares during the period. Rafferty Asset Management LLC grew its holdings in AvalonBay Communities by 469.1% in the 2nd quarter. Rafferty Asset Management LLC now owns 33,630 shares of the real estate investment trust’s stock worth $5,201,000 after buying an additional 27,721 shares in the last quarter. Sentry Investment Management LLC grew its holdings in AvalonBay Communities by 177.0% in the 2nd quarter. Sentry Investment Management LLC now owns 7,916 shares of the real estate investment trust’s stock worth $1,224,000 after buying an additional 5,058 shares in the last quarter. Victory Capital Management Inc. grew its holdings in AvalonBay Communities by 19.3% in the 2nd quarter. Victory Capital Management Inc. now owns 152,369 shares of the real estate investment trust’s stock worth $23,562,000 after buying an additional 24,699 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in AvalonBay Communities by 7.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 18,472 shares of the real estate investment trust’s stock worth $2,858,000 after buying an additional 1,316 shares in the last quarter. Institutional investors and hedge funds own 90.86% of the company’s stock.

A number of equities analysts recently issued reports on AVB shares. Jefferies Financial Group reissued a “buy” rating and issued a $174.00 price objective on shares of AvalonBay Communities in a report on Tuesday, August 11th. Morgan Stanley decreased their price objective on AvalonBay Communities from $145.00 to $140.00 and set an “underweight” rating for the company in a report on Monday, July 27th. Stifel Nicolaus increased their price objective on AvalonBay Communities from $171.00 to $176.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Piper Sandler increased their price objective on AvalonBay Communities from $140.00 to $145.00 and gave the stock an “underweight” rating in a report on Tuesday, May 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $187.64.

Shares of AVB traded up $1.79 during trading hours on Thursday, hitting $153.94. 27,905 shares of the company were exchanged, compared to its average volume of 916,598. The company has a market capitalization of $21.77 billion, a PE ratio of 27.61, a PEG ratio of 10.36 and a beta of 0.79. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a fifty day simple moving average of $152.69 and a 200-day simple moving average of $169.91. AvalonBay Communities Inc has a one year low of $118.17 and a one year high of $229.40.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $1.21 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($1.04). The company had revenue of $576.41 million for the quarter, compared to the consensus estimate of $587.58 million. AvalonBay Communities had a return on equity of 7.21% and a net margin of 33.32%. During the same period in the prior year, the business earned $2.27 earnings per share. Sell-side analysts expect that AvalonBay Communities Inc will post 9.05 EPS for the current year.

AvalonBay Communities Company Profile

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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