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ABC Arbitrage SA Purchases Shares of 15,118 AvalonBay Communities, Inc. (NYSE:AVB)

AvalonBay Communities logo with Finance background

Key Points

  • ABC Arbitrage SA has acquired a new stake in AvalonBay Communities, purchasing 15,118 shares valued at approximately $3,245,000.
  • Wall Street analysts have mixed views on AvalonBay Communities, with a consensus rating of "Hold" and a target price of $228.79.
  • AvalonBay Communities declared a quarterly dividend of $1.75 per share, representing an annualized dividend yield of 3.8%.
  • Interested in AvalonBay Communities? Here are five stocks we like better.

ABC Arbitrage SA purchased a new stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,118 shares of the real estate investment trust's stock, valued at approximately $3,245,000.

A number of other institutional investors also recently modified their holdings of the stock. Baker Tilly Wealth Management LLC raised its stake in shares of 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 worth $697,000 after acquiring an additional 58 shares during the last quarter. Golden State Equity Partners raised its stake in shares of 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 buying an additional 60 shares during the last quarter. Roundview Capital LLC raised its stake in shares of AvalonBay Communities by 1.7% during the first quarter. Roundview Capital LLC now owns 3,950 shares of the real estate investment trust's stock worth $848,000 after buying an additional 66 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in AvalonBay Communities by 0.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,953 shares of the real estate investment trust's stock valued at $5,929,000 after purchasing an additional 72 shares during the period. Finally, Global X Japan Co. Ltd. grew its holdings in AvalonBay Communities by 24.9% during the first quarter. Global X Japan Co. Ltd. now owns 371 shares of the real estate investment trust's stock valued at $80,000 after purchasing an additional 74 shares during the period. 92.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AVB. Piper Sandler restated a "neutral" rating and set a $200.00 price objective (down previously from $255.00) on shares of AvalonBay Communities in a report on Monday. Royal Bank Of Canada cut their price objective on shares of AvalonBay Communities from $216.00 to $211.00 and set a "sector perform" rating on the stock in a research report on Friday. Wall Street Zen raised shares of AvalonBay Communities from a "sell" rating to a "hold" rating in a research report on Saturday. Mizuho dropped their price target on shares of AvalonBay Communities from $238.00 to $213.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. Finally, Scotiabank dropped their price target on shares of AvalonBay Communities from $251.00 to $236.00 and set a "sector perform" rating on the stock in a research report on Friday, June 13th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $228.79.

Check Out Our Latest Report on AVB

Insider Buying and Selling

In other news, CFO Kevin P. O'shea sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $207.57, for a total value of $1,245,420.00. Following the sale, the chief financial officer directly owned 22,782 shares in the company, valued at approximately $4,728,859.74. This trade represents a 20.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Edward M. Schulman sold 5,945 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the completion of the sale, the executive vice president owned 17,617 shares in the company, valued at approximately $3,623,288.39. The trade was a 25.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.48% of the company's stock.

AvalonBay Communities Trading Down 0.9%

AVB stock opened at $182.70 on Tuesday. The company has a market capitalization of $26.01 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 2.48 and a beta of 0.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.51 and a current ratio of 0.51. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29. The company's 50-day simple moving average is $202.60 and its 200 day simple moving average is $208.11.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.80 by $0.02. AvalonBay Communities had a net margin of 38.91% and a return on equity of 9.70%. The firm had revenue of $689.90 million for the quarter, compared to the consensus estimate of $759.08 million. During the same period in the prior year, the company posted $2.77 earnings per share. As a group, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Monday, June 30th. AvalonBay Communities's dividend payout ratio (DPR) is presently 86.21%.

About AvalonBay Communities

(Free Report)

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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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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