Insider Selling: AvalonBay Communities, Inc. (NYSE:AVB) CFO Sells 6,000 Shares of Stock

AvalonBay Communities, Inc. (NYSE:AVB) CFO Kevin P. O’shea sold 6,000 shares of AvalonBay Communities stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $207.57, for a total transaction of $1,245,420.00. Following the completion of the transaction, the chief financial officer now owns 22,782 shares of the company’s stock, valued at $4,728,859.74. This trade represents a 20.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

AvalonBay Communities Stock Up 0.1%

AVB stock opened at $206.41 on Thursday. The company has a fifty day moving average price of $204.82 and a 200 day moving average price of $212.86. AvalonBay Communities, Inc. has a 12 month low of $180.40 and a 12 month high of $239.29. The company has a market cap of $29.39 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 2.81 and a beta of 0.86. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.51 and a quick ratio of 0.51.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, beating the consensus estimate of $2.80 by $0.03. AvalonBay Communities had a net margin of 38.86% and a return on equity of 9.65%. The firm had revenue of $693.43 million during the quarter, compared to the consensus estimate of $744.61 million. During the same quarter in the prior year, the firm earned $2.70 EPS. Sell-side analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $1.75 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $7.00 annualized dividend and a yield of 3.39%. AvalonBay Communities’s dividend payout ratio (DPR) is 87.17%.

Analyst Ratings Changes

Several research analysts have commented on AVB shares. Barclays boosted their price target on shares of AvalonBay Communities from $227.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Truist Financial boosted their price target on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a report on Monday, March 10th. BMO Capital Markets cut shares of AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price target for the company. in a report on Friday, April 4th. Wall Street Zen cut shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Saturday, May 31st. Finally, Piper Sandler lowered their price target on shares of AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $235.86.

Institutional Trading of AvalonBay Communities

Several institutional investors and hedge funds have recently bought and sold shares of AVB. Norges Bank purchased a new position in AvalonBay Communities during the 4th quarter worth $1,499,050,000. Price T Rowe Associates Inc. MD grew its stake in shares of AvalonBay Communities by 35.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust’s stock worth $1,133,328,000 after purchasing an additional 1,336,698 shares during the period. Nuveen LLC acquired a new stake in AvalonBay Communities in the 1st quarter valued at about $280,226,000. Northern Trust Corp grew its stake in AvalonBay Communities by 54.8% in the 4th quarter. Northern Trust Corp now owns 2,642,743 shares of the real estate investment trust’s stock valued at $581,324,000 after acquiring an additional 935,770 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in AvalonBay Communities by 49.9% in the 4th quarter. Wellington Management Group LLP now owns 2,488,975 shares of the real estate investment trust’s stock valued at $547,500,000 after acquiring an additional 828,009 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

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.