AvalonBay Communities Inc (NYSE:AVB) COO Sean J. Breslin sold 1,500 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $192.19, for a total transaction of $288,285.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of AvalonBay Communities Inc (NYSE:AVB) traded down 0.32% during trading on Friday, reaching $191.25. 1,166,910 shares of the company traded hands. AvalonBay Communities Inc has a 12 month low of $158.32 and a 12 month high of $194.11. The firm has a 50-day moving average price of $188.65 and a 200-day moving average price of $178.37. The firm has a market capitalization of $26.28 billion, a PE ratio of 25.48 and a beta of 0.33.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $2.09 EPS for the quarter, missing the consensus estimate of $2.11 by $0.02. The company had revenue of $522.33 million for the quarter, compared to analyst estimates of $520.56 million. AvalonBay Communities had a return on equity of 10.36% and a net margin of 50.56%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.97 earnings per share. Equities research analysts anticipate that AvalonBay Communities Inc will post $5.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Wednesday, June 28th. AvalonBay Communities’s dividend payout ratio is currently 71.81%.
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Several analysts have issued reports on AVB shares. Barclays PLC reduced their price target 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. Zelman & Associates downgraded shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Monday, February 13th. Mizuho reaffirmed a “buy” rating and issued a $190.00 price target on shares of AvalonBay Communities in a report on Tuesday, February 7th. Bank of America Corp raised shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $202.00 price objective on the stock in a research note on Wednesday, March 8th. Finally, BMO Capital Markets reissued a “hold” rating and set a $183.00 price objective on shares of AvalonBay Communities in a research note on Thursday, February 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $192.00.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in AvalonBay Communities by 1.9% in the first quarter. Vanguard Group Inc. now owns 21,857,497 shares of the real estate investment trust’s stock valued at $4,013,036,000 after buying an additional 406,218 shares in the last quarter. BlackRock Inc. boosted its stake in AvalonBay Communities by 2,676.8% in the first quarter. BlackRock Inc. now owns 14,398,025 shares of the real estate investment trust’s stock worth $2,643,476,000 after buying an additional 13,879,505 shares during the period. FMR LLC boosted its stake in AvalonBay Communities by 21.5% in the first quarter. FMR LLC now owns 4,372,295 shares of the real estate investment trust’s stock worth $802,753,000 after buying an additional 773,410 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in AvalonBay Communities by 6.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,418,752 shares of the real estate investment trust’s stock worth $607,991,000 after buying an additional 213,856 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in AvalonBay Communities by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 3,112,136 shares of the real estate investment trust’s stock worth $571,387,000 after buying an additional 65,999 shares during the period. Institutional investors and hedge funds own 97.05% of the company’s stock.
About AvalonBay Communities
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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