AvalonBay Communities Inc (AVB) : New Jersey Better Educational Savings Trust added new position in AvalonBay Communities Inc during the most recent quarter end. The investment management firm now holds 4,000 shares of AvalonBay Communities Inc which is valued at $731,320 , the company said in a statement filed on Aug 2, 2016 with the SEC.AvalonBay Communities Inc makes up approximately 0.47% of New Jersey Better Educational Savings Trust’s portfolio.
Other Hedge Funds, Including , World Asset Management Inc boosted its stake in AVB in the latest quarter, The investment management firm added 179 additional shares and now holds a total of 16,684 shares of AvalonBay Communities Inc which is valued at $3,050,336. AvalonBay Communities Inc makes up approx 0.11% of World Asset Management Inc’s portfolio. Proficio Capital Partners sold out all of its stake in AVB during the most recent quarter. The investment firm sold 37 shares of AVB which is valued $6,869.Douglas Lane Associates reduced its stake in AVB by selling 7,835 shares or 13.42% in the most recent quarter. The Hedge Fund company now holds 50,542 shares of AVB which is valued at $9,085,430. AvalonBay Communities Inc makes up approx 0.25% of Douglas Lane Associates’s portfolio.Shinko Asset Management Ltd. boosted its stake in AVB in the latest quarter, The investment management firm added 5,358 additional shares and now holds a total of 2,184,052 shares of AvalonBay Communities Inc which is valued at $404,748,517. AvalonBay Communities Inc makes up approx 2.74% of Shinko Asset Management Ltd.’s portfolio.
AvalonBay Communities Inc opened for trading at $183 and hit $185.885 on the upside on Monday, eventually ending the session at $185.83, with a gain of 1.76% or 3.21 points. The heightened volatility saw the trading volume jump to 7,78,114 shares. Company has a market cap of $25,489 M.
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.
Many Wall Street Analysts have commented on AvalonBay Communities Inc. AvalonBay Communities Inc was Downgraded by Jefferies to ” Hold” on Jun 8, 2016.
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.