Short Interest in AvalonBay Communities, Inc. (NYSE:AVB) Grows By 10.5%

AvalonBay Communities, Inc. (NYSE:AVB - Get Free Report) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 3,160,000 shares, an increase of 10.5% from the December 15th total of 2,860,000 shares. Based on an average daily trading volume, of 616,300 shares, the days-to-cover ratio is currently 5.1 days.

AvalonBay Communities Stock Performance

NYSE:AVB traded up $0.31 during mid-day trading on Monday, reaching $218.21. The company's stock had a trading volume of 553,916 shares, compared to its average volume of 517,710. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock has a market cap of $31.04 billion, a P/E ratio of 29.85, a PEG ratio of 2.94 and a beta of 0.99. The firm's fifty day moving average price is $224.47 and its two-hundred day moving average price is $220.81. AvalonBay Communities has a 12-month low of $169.37 and a 12-month high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing analysts' consensus estimates of $2.71 by ($0.10). The company had revenue of $734.31 million during the quarter, compared to analysts' expectations of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same quarter in the previous year, the company earned $2.66 EPS. On average, equities analysts forecast that AvalonBay Communities will post 11.04 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Tuesday, December 31st. AvalonBay Communities's payout ratio is 93.02%.

Insiders Place Their Bets

In other news, Director Timothy J. Naughton sold 23,697 shares of the firm's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total value of $5,532,538.59. Following the completion of the sale, the director now directly owns 87,239 shares of the company's stock, valued at approximately $20,367,689.33. This trade represents a 21.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.48% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AVB. High Probability Advisors LLC raised its stake in AvalonBay Communities by 36.9% in the fourth quarter. High Probability Advisors LLC now owns 3,318 shares of the real estate investment trust's stock worth $730,000 after buying an additional 895 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of AvalonBay Communities by 2.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 52,224 shares of the real estate investment trust's stock valued at $11,488,000 after buying an additional 1,070 shares in the last quarter. Red Spruce Capital LLC grew its position in shares of AvalonBay Communities by 1.9% in the 4th quarter. Red Spruce Capital LLC now owns 7,545 shares of the real estate investment trust's stock worth $1,660,000 after buying an additional 144 shares during the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of AvalonBay Communities by 10.0% during the 4th quarter. Atomi Financial Group Inc. now owns 1,326 shares of the real estate investment trust's stock valued at $292,000 after purchasing an additional 121 shares during the last quarter. Finally, Perpetual Ltd boosted its position in shares of AvalonBay Communities by 18.9% in the 4th quarter. Perpetual Ltd now owns 11,020 shares of the real estate investment trust's stock worth $2,424,000 after purchasing an additional 1,750 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company's stock.

Wall Street Analysts Forecast Growth

AVB has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their target price on AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating on the stock in a report on Wednesday, November 6th. Mizuho upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $239.00 to $242.00 in a report on Monday, January 6th. Scotiabank dropped their target price on shares of AvalonBay Communities from $244.00 to $241.00 and set a "sector perform" rating on the stock in a report on Thursday, November 14th. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. Finally, Barclays started coverage on shares of AvalonBay Communities in a research note on Tuesday, December 17th. They set an "equal weight" rating and a $243.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $234.53.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.