Keri A. Shea Sells 185 Shares of AvalonBay Communities, Inc. (NYSE:AVB) Stock

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

AvalonBay Communities Price Performance

NYSE AVB opened at $223.28 on Wednesday. AvalonBay Communities, Inc. has a 12 month low of $169.37 and a 12 month high of $239.29. The firm has a market capitalization of $31.76 billion, a PE ratio of 30.54, a P/E/G ratio of 3.30 and a beta of 0.98. The company’s 50 day simple moving average is $227.60 and its 200 day simple moving average is $218.76. 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) last issued its quarterly 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). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The firm had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. During the same period in the previous year, the business posted $2.66 earnings per share. As a group, equities research analysts forecast that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

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

Wall Street Analyst Weigh In

AVB has been the subject of several research reports. Truist Financial lifted their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Royal Bank of Canada decreased their target price on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Scotiabank lowered their target price 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. Deutsche Bank Aktiengesellschaft raised their price target on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, BNP Paribas started coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective for the company. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Hold” and an average target price of $231.33.

Hedge Funds Weigh In On AvalonBay Communities

Several large investors have recently made changes to their positions in AVB. RPg Family Wealth Advisory LLC bought a new stake in shares of AvalonBay Communities in the 3rd quarter worth approximately $26,000. Brooklyn Investment Group bought a new position in shares of AvalonBay Communities in the third quarter valued at $39,000. Mather Group LLC. lifted its position in shares of AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 56 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of AvalonBay Communities during the 3rd quarter worth $51,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of AvalonBay Communities by 731.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 291 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 256 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

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.