Advisor Resource Council Takes $520,000 Position in AvalonBay Communities, Inc. (NYSE:AVB)

Advisor Resource Council bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,425 shares of the real estate investment trust's stock, valued at approximately $520,000.

Other hedge funds have also recently made changes to their positions in the company. Baker Tilly Wealth Management LLC raised its position in AvalonBay Communities by 1.8% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 3,247 shares of the real estate investment trust's stock worth $697,000 after buying an additional 58 shares during the last quarter. Signaturefd LLC increased its stake in shares of AvalonBay Communities by 4.0% in the fourth quarter. Signaturefd LLC now owns 1,616 shares of the real estate investment trust's stock worth $356,000 after acquiring an additional 62 shares during the period. Private Advisor Group LLC raised its holdings in shares of AvalonBay Communities by 2.6% during the fourth quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust's stock worth $553,000 after purchasing an additional 63 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in AvalonBay Communities by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,179 shares of the real estate investment trust's stock valued at $2,679,000 after purchasing an additional 69 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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. 92.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AVB shares. Wall Street Zen raised AvalonBay Communities from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. BMO Capital Markets downgraded AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 target price on the stock. in a research note on Friday, April 4th. Piper Sandler dropped their target price on AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. 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 report on Thursday, May 15th. Finally, Barclays upped their price objective on AvalonBay Communities from $227.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, AvalonBay Communities presently has a consensus rating of "Hold" and a consensus target price of $235.86.

AvalonBay Communities Price Performance

Shares of AVB stock traded up $3.47 during trading hours on Thursday, hitting $204.69. 990,062 shares of the company's stock were exchanged, compared to its average volume of 737,860. AvalonBay Communities, Inc. has a fifty-two week low of $180.40 and a fifty-two week high of $239.29. The firm has a market cap of $29.14 billion, a P/E ratio of 25.49, a P/E/G ratio of 2.74 and a beta of 0.86. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average of $205.64 and a two-hundred day moving average of $212.09.

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 the consensus estimate of $2.80 by $0.03. The company had revenue of $693.43 million during the quarter, compared to analyst estimates of $744.61 million. AvalonBay Communities had a net margin of 38.86% and a return on equity of 9.65%. During the same quarter in the previous year, the firm earned $2.70 EPS. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.75 per share. The ex-dividend date is Monday, June 30th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.42%. AvalonBay Communities's dividend payout ratio is currently 87.17%.

Insider Buying and Selling

In other news, EVP Edward M. Schulman sold 5,945 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $205.67, for a total value of $1,222,708.15. Following the completion of the sale, the executive vice president now directly owns 17,617 shares in the company, valued at $3,623,288.39. This represents a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin P. O'shea sold 6,000 shares of the 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 completion of the sale, the chief financial officer now directly owns 22,782 shares of the company's stock, valued at approximately $4,728,859.74. This represents a 20.85% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.45% of the company's stock.

AvalonBay Communities Company Profile

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.