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

AvalonBay Communities, Inc. (NYSE:AVB) SVP Keri A. Shea sold 185 shares of AvalonBay Communities stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 280 shares in the company, valued at approximately $53,550. This trade represents a 39.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

AvalonBay Communities Trading Up 0.7 %

AvalonBay Communities stock opened at $223.28 on Wednesday. AvalonBay Communities, Inc. has a one year low of $169.37 and a one year high of $239.29. The company’s fifty day moving average price is $227.60 and its two-hundred day moving average price is $218.76. The company has a market capitalization of $31.76 billion, a price-to-earnings ratio of 30.54, a PEG ratio of 3.30 and a beta of 0.98. 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 data 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 net margin of 36.20% and a return on equity of 8.84%. The company had revenue of $734.31 million during 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. On average, analysts forecast that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently disclosed 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 dividend yield of 3.05%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio is currently 93.02%.

Analyst Ratings Changes

Several research firms have weighed in on AVB. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $247.00 to $262.00 in a research report on Tuesday, December 17th. Truist Financial upped their price target on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. BNP Paribas started coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective for the company. Barclays assumed coverage on AvalonBay Communities in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $243.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price target 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. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $231.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AVB. State Street Corp boosted its holdings in AvalonBay Communities by 2.2% during 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 acquiring an additional 196,938 shares during the period. Geode Capital Management LLC lifted its position in shares of AvalonBay Communities by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,585,802 shares of the real estate investment trust’s stock worth $805,113,000 after purchasing an additional 27,988 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of AvalonBay Communities by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,240,436 shares of the real estate investment trust’s stock worth $504,658,000 after purchasing an additional 78,800 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in AvalonBay Communities by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock valued at $429,145,000 after purchasing an additional 13,631 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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. 92.61% of the stock is currently owned by institutional investors and hedge funds.

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.