Coldstream Capital Management Inc. Has $2.26 Million Stock Holdings in AvalonBay Communities Inc (NYSE:AVB)

Coldstream Capital Management Inc. cut its stake in shares of AvalonBay Communities Inc (NYSE:AVB) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,125 shares of the real estate investment trust’s stock after selling 108 shares during the period. Coldstream Capital Management Inc.’s holdings in AvalonBay Communities were worth $2,260,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CSat Investment Advisory L.P. increased its stake in AvalonBay Communities by 370.4% during the 2nd quarter. CSat Investment Advisory L.P. now owns 254 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 200 shares during the period. Cubist Systematic Strategies LLC increased its stake in AvalonBay Communities by 88.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,135 shares of the real estate investment trust’s stock worth $434,000 after acquiring an additional 1,005 shares during the period. California State Teachers Retirement System boosted its holdings in shares of AvalonBay Communities by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 252,613 shares of the real estate investment trust’s stock valued at $51,326,000 after purchasing an additional 1,845 shares in the last quarter. Nomura Holdings Inc. boosted its holdings in shares of AvalonBay Communities by 0.6% in the 2nd quarter. Nomura Holdings Inc. now owns 20,179 shares of the real estate investment trust’s stock valued at $4,080,000 after purchasing an additional 121 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of AvalonBay Communities in the 2nd quarter valued at $4,229,000. 92.46% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Edward M. Schulman sold 1,301 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $213.47, for a total value of $277,724.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $214.00, for a total transaction of $428,000.00. The disclosure for this sale can be found here. Insiders sold a total of 5,801 shares of company stock valued at $1,243,499 in the last ninety days. Corporate insiders own 0.42% of the company’s stock.

Several equities research analysts recently weighed in on AVB shares. JPMorgan Chase & Co. raised their price objective on AvalonBay Communities from $214.00 to $224.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. SunTrust Banks boosted their price objective on AvalonBay Communities from $211.00 to $218.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. They noted that the move was a valuation call. Zelman & Associates upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. KeyCorp boosted their target price on shares of AvalonBay Communities from $212.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Morgan Stanley increased their target price on AvalonBay Communities from $217.00 to $229.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. AvalonBay Communities currently has a consensus rating of “Hold” and an average price target of $212.87.

Shares of AVB traded down $1.70 during mid-day trading on Friday, hitting $209.06. The company’s stock had a trading volume of 850,917 shares, compared to its average volume of 542,191. The company’s 50-day moving average is $208.46 and its 200-day moving average is $204.46. AvalonBay Communities Inc has a 52-week low of $167.01 and a 52-week high of $216.80. The firm has a market capitalization of $29.51 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 3.90 and a beta of 0.52. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.70.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.21 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($1.10). AvalonBay Communities had a return on equity of 8.63% and a net margin of 41.83%. The business had revenue of $577.26 million during the quarter, compared to analysts’ expectations of $572.69 million. During the same period in the previous year, the company posted $2.23 EPS. As a group, sell-side analysts predict that AvalonBay Communities Inc will post 9.32 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $1.52 dividend. This represents a $6.08 annualized dividend and a dividend yield of 2.91%. AvalonBay Communities’s payout ratio is presently 67.56%.

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.

Featured Story: SEC Filing

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

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