Huntington National Bank Sells 61 Shares of AvalonBay Communities Inc (NYSE:AVB)

Huntington National Bank lowered its holdings in shares of AvalonBay Communities Inc (NYSE:AVB) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,041 shares of the real estate investment trust’s stock after selling 61 shares during the quarter. Huntington National Bank’s holdings in AvalonBay Communities were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its position in AvalonBay Communities by 9.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 75,162 shares of the real estate investment trust’s stock valued at $15,269,000 after purchasing an additional 6,330 shares during the period. Whittier Trust Co. increased its position in AvalonBay Communities by 41.7% during the 2nd quarter. Whittier Trust Co. now owns 1,315 shares of the real estate investment trust’s stock valued at $268,000 after purchasing an additional 387 shares during the period. Flagship Harbor Advisors LLC increased its position in AvalonBay Communities by 274.8% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 521 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 382 shares during the period. FDx Advisors Inc. purchased a new position in AvalonBay Communities during the 2nd quarter valued at about $227,000. Finally, Commonwealth Equity Services LLC increased its position in AvalonBay Communities by 11.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,059 shares of the real estate investment trust’s stock valued at $621,000 after purchasing an additional 312 shares during the period. Institutional investors and hedge funds own 91.86% of the company’s stock.

In related news, insider Leo S. Horey III sold 2,000 shares of AvalonBay Communities stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $210.00, for a total value of $420,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William M. Mclaughlin sold 2,500 shares of AvalonBay Communities stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $209.07, for a total transaction of $522,675.00. The disclosure for this sale can be found here. Insiders sold a total of 9,881 shares of company stock valued at $2,042,649 over the last quarter. 0.42% of the stock is owned by company insiders.

AVB stock traded up $1.60 during trading on Wednesday, reaching $212.46. The company had a trading volume of 272,327 shares, compared to its average volume of 448,187. The business has a 50-day simple moving average of $207.81. The firm has a market cap of $29.39 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 3.94 and a beta of 0.52. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.57 and a current ratio of 0.57. AvalonBay Communities Inc has a twelve month low of $167.01 and a twelve month high of $214.10.

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $1.52 dividend. This represents a $6.08 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Thursday, June 27th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 67.56%.

A number of research analysts have commented on the stock. Morgan Stanley raised their target price on shares of General Mills from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, June 27th. Mizuho set a $27.00 target price on shares of Horizon Therapeutics and gave the company a “hold” rating in a research report on Wednesday, May 8th. KeyCorp raised their target price on shares of Terreno Realty from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Barclays downgraded shares of Barrick Gold from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $15.00 to $18.00 in a research report on Tuesday, July 16th. Finally, Robert W. Baird raised their target price on shares of Iovance Biotherapeutics from $29.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $205.87.

AvalonBay Communities 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.

Read More: Buy Rating

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

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