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

AvalonBay Communities, Inc. (NYSE:AVB) SVP Keri A. Shea sold 185 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $191.25, for a total transaction of $35,381.25. Following the transaction, the senior vice president now owns 280 shares of the company’s stock, valued at $53,550. The trade was a 39.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $223.28 on Thursday. The business’s 50 day moving average is $227.59 and its 200-day moving average is $218.94. The firm has a market cap of $31.76 billion, a P/E ratio of 30.54, a price-to-earnings-growth ratio of 3.30 and a beta of 0.98. AvalonBay Communities, Inc. has a 1-year low of $169.37 and a 1-year high of $239.29. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70.

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

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.70 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.05%. AvalonBay Communities’s payout ratio is presently 93.02%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AVB. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. BNP Paribas assumed coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price target for the company. Evercore ISI boosted their price target on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Scotiabank cut their price objective on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Finally, Royal Bank of Canada lowered their target price on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $231.33.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in AvalonBay Communities by 678.9% during the third 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 worth $386,315,000 after buying an additional 1,494,872 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of AvalonBay Communities by 487.8% in 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 purchasing an additional 298,322 shares during the period. International Assets Investment Management LLC acquired a new position in AvalonBay Communities in the third quarter valued at about $581,960,000. State Street Corp raised its stake in AvalonBay Communities by 2.2% in the third 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 purchasing an additional 196,938 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in AvalonBay Communities by 958.9% during the third 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 period. 92.61% of the stock is owned by institutional investors.

About AvalonBay Communities

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.