Balyasny Asset Management L.P. Sells 157,790 Shares of AvalonBay Communities, Inc. $AVB

Balyasny Asset Management L.P. cut its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 21.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 572,371 shares of the real estate investment trust’s stock after selling 157,790 shares during the quarter. Balyasny Asset Management L.P. owned about 0.40% of AvalonBay Communities worth $116,477,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AVB. Clearstead Trust LLC lifted its stake in AvalonBay Communities by 62.0% in the 2nd quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 62 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of AvalonBay Communities by 76.4% in the second quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 81 shares during the last quarter. Keystone Global Partners LLC bought a new stake in shares of AvalonBay Communities in the first quarter worth $45,000. Capital Analysts LLC lifted its position in shares of AvalonBay Communities by 48.5% in the first quarter. Capital Analysts LLC now owns 245 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 80 shares in the last quarter. Finally, Hilltop National Bank acquired a new position in AvalonBay Communities during the second quarter worth $58,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

NYSE AVB opened at $176.77 on Friday. The company has a market capitalization of $25.03 billion, a P/E ratio of 21.58, a P/E/G ratio of 3.20 and a beta of 0.74. AvalonBay Communities, Inc. has a 12-month low of $166.73 and a 12-month high of $230.23. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $180.92 and a two-hundred day moving average price of $191.81.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.81 by ($0.06). The company had revenue of $766.80 million during the quarter, compared to analyst estimates of $766.22 million. AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.72%. During the same period in the prior year, the firm earned $2.74 earnings per share. Analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $1.75 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $7.00 annualized dividend and a yield of 4.0%. AvalonBay Communities’s dividend payout ratio is currently 85.47%.

Analyst Ratings Changes

AVB has been the topic of several analyst reports. Evercore ISI reiterated an “in-line” rating and set a $214.00 target price on shares of AvalonBay Communities in a report on Monday, November 3rd. Cantor Fitzgerald began coverage on AvalonBay Communities in a research note on Wednesday, October 1st. They set a “neutral” rating and a $205.00 price objective on the stock. BNP Paribas Exane downgraded AvalonBay Communities from an “outperform” rating to a “neutral” rating in a report on Monday, September 29th. Barclays raised shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $229.00 to $216.00 in a research note on Tuesday, November 25th. Finally, Mizuho dropped their price target on shares of AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. Six analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, AvalonBay Communities presently has a consensus rating of “Hold” and an average price target of $205.89.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.