AvalonBay Communities, Inc. (NYSE:AVB) SVP Sells $35,381.25 in Stock

AvalonBay Communities, Inc. (NYSE:AVB - Get Free Report) SVP Keri A. Shea sold 185 shares of AvalonBay Communities stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $191.25, for a total value of $35,381.25. Following the completion of the sale, the senior vice president now owns 280 shares of the company's stock, valued at approximately $53,550. The trade was a 39.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

AvalonBay Communities Stock Down 0.2 %

Shares of AVB traded down $0.50 during midday trading on Monday, hitting $221.67. The stock had a trading volume of 602,317 shares, compared to its average volume of 716,593. The firm has a market cap of $31.53 billion, a price-to-earnings ratio of 30.32, a price-to-earnings-growth ratio of 3.30 and a beta of 0.98. The company has a 50 day simple moving average of $227.60 and a two-hundred day simple moving average of $218.60. AvalonBay Communities, Inc. has a twelve month low of $169.37 and a twelve month high of $239.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.71 by ($0.10). The firm had revenue of $734.31 million during the quarter, compared to analyst estimates of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same period in the prior year, the business posted $2.66 EPS. On average, analysts anticipate that AvalonBay Communities, Inc. will post 11.03 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities's payout ratio is 93.02%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Evercore ISI increased their target price on AvalonBay Communities from $225.00 to $229.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. BNP Paribas started coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They set an "outperform" rating and a $250.00 price objective on the stock. Royal Bank of Canada decreased their price objective on shares of AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating for the company in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft increased their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. Finally, Zelman & Associates raised shares of AvalonBay Communities to a "hold" rating in a report on Thursday, September 5th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $231.33.

Hedge Funds Weigh In On AvalonBay Communities

A number of large investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of AvalonBay Communities by 678.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust's stock valued at $386,315,000 after buying an additional 1,494,872 shares during the last quarter. Daiwa Securities Group Inc. raised its position in AvalonBay Communities by 487.8% during the second quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust's stock worth $74,372,000 after acquiring an additional 298,322 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in AvalonBay Communities in the third quarter valued at $581,960,000. State Street Corp grew its position in shares of AvalonBay Communities by 2.2% in the 3rd quarter. State Street Corp now owns 9,245,028 shares of the real estate investment trust's stock valued at $2,097,971,000 after acquiring an additional 196,938 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of AvalonBay Communities by 958.9% during the 3rd quarter. SG Americas Securities LLC now owns 172,618 shares of the real estate investment trust's stock worth $38,882,000 after purchasing an additional 156,316 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Company Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.

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