AvalonBay Communities, Inc. $AVB Shares Purchased by HighTower Advisors LLC

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

HighTower Advisors LLC boosted its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 41.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,396 shares of the real estate investment trust's stock after acquiring an additional 9,192 shares during the period. HighTower Advisors LLC's holdings in AvalonBay Communities were worth $6,738,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mariner LLC raised its position in AvalonBay Communities by 8.4% in the fourth quarter. Mariner LLC now owns 17,027 shares of the real estate investment trust's stock valued at $3,745,000 after purchasing an additional 1,326 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in AvalonBay Communities in the fourth quarter valued at approximately $1,153,000. MetLife Investment Management LLC raised its position in AvalonBay Communities by 1.3% in the fourth quarter. MetLife Investment Management LLC now owns 41,765 shares of the real estate investment trust's stock valued at $9,187,000 after purchasing an additional 526 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in AvalonBay Communities by 21.6% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 12,438 shares of the real estate investment trust's stock valued at $2,736,000 after purchasing an additional 2,213 shares during the period. Finally, TD Waterhouse Canada Inc. raised its position in AvalonBay Communities by 6.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 4,809 shares of the real estate investment trust's stock valued at $1,058,000 after purchasing an additional 300 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

NYSE:AVB opened at $188.43 on Tuesday. The firm has a market capitalization of $26.83 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 2.73 and a beta of 0.86. The business's fifty day moving average price is $199.29 and its 200 day moving average price is $206.03. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.70. AvalonBay Communities, Inc. has a 12 month low of $180.40 and a 12 month high of $239.29.

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

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Monday, June 30th. AvalonBay Communities's dividend payout ratio is 86.21%.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, CFO Kevin P. O'shea sold 6,000 shares of the company's stock in a transaction 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 transaction, the chief financial officer owned 22,782 shares in the company, valued at $4,728,859.74. This represents a 20.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Edward M. Schulman sold 5,945 shares of the company's stock in a transaction 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 transaction, the executive vice president owned 17,617 shares of the company's stock, valued at $3,623,288.39. This represents a 25.23% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AVB. Wall Street Zen raised AvalonBay Communities from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Evercore ISI cut their target price on AvalonBay Communities from $216.00 to $212.00 and set an "in-line" rating on the stock in a research report on Tuesday, August 12th. Piper Sandler reissued a "neutral" rating and issued a $200.00 target price (down previously from $255.00) on shares of AvalonBay Communities in a research report on Monday, August 4th. JPMorgan Chase & Co. cut their price objective on AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating on the stock in a research report on Tuesday, June 17th. Finally, Barclays cut their price objective on AvalonBay Communities from $241.00 to $228.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 12th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $225.64.

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.

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.