AvalonBay Communities Inc (NYSE:AVB) EVP Edward M. Schulman sold 1,764 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $191.82, for a total transaction of $338,370.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
AvalonBay Communities Inc (NYSE:AVB) traded down 0.28% during midday trading on Friday, reaching $191.32. The company’s stock had a trading volume of 371,087 shares. AvalonBay Communities Inc has a 12-month low of $158.32 and a 12-month high of $194.11. The stock has a market cap of $26.29 billion, a P/E ratio of 25.49 and a beta of 0.33. The stock’s 50 day moving average is $188.65 and its 200 day moving average is $178.37.
AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, April 26th. The real estate investment trust reported $2.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.11 by $0.02. The company had revenue of $522.33 million during the quarter, compared to analyst estimates of $520.56 million. AvalonBay Communities had a net margin of 50.56% and a return on equity of 10.36%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.97 EPS. Analysts anticipate that AvalonBay Communities Inc will post $5.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.96%. AvalonBay Communities’s payout ratio is currently 71.81%.
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AVB has been the topic of several recent analyst reports. Barclays PLC cut their price objective on shares of AvalonBay Communities from $178.00 to $167.00 and set an “equal weight” rating on the stock in a report on Monday, January 23rd. BMO Capital Markets restated a “hold” rating and set a $183.00 price objective on shares of AvalonBay Communities in a report on Thursday, February 2nd. Mizuho restated a “buy” rating and set a $190.00 price objective on shares of AvalonBay Communities in a report on Tuesday, February 7th. Zelman & Associates downgraded shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Monday, February 13th. Finally, Royal Bank of Canada restated a “buy” rating and set a $191.00 price objective on shares of AvalonBay Communities in a report on Monday, February 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $192.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVB. Muzinich & Co. Inc. raised its position in AvalonBay Communities by 104.0% in the first quarter. Muzinich & Co. Inc. now owns 665 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 339 shares during the last quarter. Whittier Trust Co. raised its position in AvalonBay Communities by 2.8% in the first quarter. Whittier Trust Co. now owns 1,144 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 31 shares during the last quarter. Edgestream Partners L.P. bought a new position in AvalonBay Communities during the first quarter worth about $216,000. Miles Capital Inc. bought a new position in AvalonBay Communities during the first quarter worth about $250,000. Finally, Wetherby Asset Management Inc. bought a new position in AvalonBay Communities during the fourth quarter worth about $257,000. 97.05% of the stock is currently owned by institutional investors and hedge funds.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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