Edward M. Schulman Sells 5,945 Shares of AvalonBay Communities, Inc. (NYSE:AVB) Stock

AvalonBay Communities, Inc. (NYSE:AVB - Get Free Report) EVP Edward M. Schulman sold 5,945 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the sale, the executive vice president now owns 17,617 shares of the company's stock, valued at approximately $3,623,288.39. This represents a 25.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

AvalonBay Communities Price Performance

NYSE AVB traded down $1.04 during midday trading on Tuesday, hitting $206.18. The company had a trading volume of 681,319 shares, compared to its average volume of 728,934. The firm has a 50-day moving average price of $204.59 and a 200-day moving average price of $212.95. The company has a market capitalization of $29.35 billion, a PE ratio of 25.68, a P/E/G ratio of 2.82 and a beta of 0.86. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.70. AvalonBay Communities, Inc. has a twelve month low of $180.40 and a twelve month high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, topping analysts' consensus estimates of $2.80 by $0.03. The company had revenue of $693.43 million for the quarter, compared to analysts' expectations of $744.61 million. AvalonBay Communities had a return on equity of 9.65% and a net margin of 38.86%. During the same quarter last year, the business earned $2.70 earnings per share. As a group, analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Monday, June 30th. AvalonBay Communities's payout ratio is presently 87.17%.

Institutional Trading of AvalonBay Communities

A number of institutional investors and hedge funds have recently made changes to their positions in AVB. Baker Tilly Wealth Management LLC increased its stake in AvalonBay Communities by 1.8% in the first quarter. Baker Tilly Wealth Management LLC now owns 3,247 shares of the real estate investment trust's stock valued at $697,000 after acquiring an additional 58 shares during the last quarter. Golden State Equity Partners lifted its stake in AvalonBay Communities by 3.7% during the first quarter. Golden State Equity Partners now owns 1,661 shares of the real estate investment trust's stock worth $356,000 after purchasing an additional 60 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of AvalonBay Communities by 4.0% in the 4th quarter. Signaturefd LLC now owns 1,616 shares of the real estate investment trust's stock valued at $356,000 after purchasing an additional 62 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of AvalonBay Communities by 2.6% in the 4th quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust's stock valued at $553,000 after purchasing an additional 63 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its stake in shares of AvalonBay Communities by 1.0% in the 1st quarter. Benjamin Edwards Inc. now owns 6,417 shares of the real estate investment trust's stock valued at $1,377,000 after purchasing an additional 64 shares during the last quarter. Institutional investors own 92.61% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AVB. JPMorgan Chase & Co. lowered their price target on shares of AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating on the stock in a report on Tuesday. Scotiabank decreased their target price on AvalonBay Communities from $251.00 to $236.00 and set a "sector perform" rating on the stock in a research report on Friday. Truist Financial lifted their price target on AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a report on Monday, March 10th. Morgan Stanley boosted their price target on AvalonBay Communities from $226.00 to $228.00 and gave the company an "equal weight" rating in a research note on Thursday, May 15th. Finally, Barclays upped their price objective on AvalonBay Communities from $227.00 to $240.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $235.86.

About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.

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