AvalonBay Communities Inc (AVB) was Upgraded by Sandler O’Neill to ” Buy”. Earlier the firm had a rating of “Hold ” on the company shares. Sandler O’Neill advised their investors in a research report released on Sep 6, 2016.
On the company’s financial health, AvalonBay Communities Inc reported $2.03 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jul 25, 2016. Analyst had a consensus of $2.05. The company had revenue of $502.30 million for the quarter, compared to analysts expectations of $497.58 million. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.87 EPS.
AvalonBay Communities Inc opened for trading at $175.2 and hit $176.26 on the upside on Thursday, eventually ending the session at $175.81, with a gain of 0.46% or 0.8 points. The heightened volatility saw the trading volume jump to 5,70,848 shares. Company has a market cap of $24,141 M.
In a different news, on Aug 11, 2016, Sean J. Breslin (Chief Operating Officer) sold 1,000 shares at $185.71 per share price. According to the SEC, on Aug 9, 2016, Matthew H. Birenbaum (Chief Investment Officer) sold 6,984 shares at $185.00 per share price. On May 12, 2016, William M Mclaughlin (Executive Vice President) sold 10,000 shares at $190.93 per share price, according to the Form-4 filing with the securities and exchange commission.
AvalonBay Communities Inc. is a real estate investment trust (REIT). The Company develops redevelops acquires owns and operates multifamily communities primarily in New England the New York/New Jersey metro area the Mid-Atlantic the Pacific Northwest and Northern and Southern California. It focuses on metropolitan areas in these regions. The Company operates in three segments: Established Communities Other Stabilized Communities and Development/Redevelopment Communities. It owns an ownership interest in around 252 operating apartment communities containing 74240 apartment homes in 11 states and the District of Columbia of which around 228 communities contain around 66631 apartment homes; two communities containing over 618 apartment homes were held by joint ventures in which it holds an ownership interest and approximately 22 communities contain around 6991 apartment homes. It operates apartment communities under three core brands: Avalon AVA and Eaves by Avalon.