AvalonBay Communities, Inc. (NYSE:AVB) Shares Bought by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. boosted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 58.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,600 shares of the real estate investment trust's stock after purchasing an additional 21,200 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in AvalonBay Communities were worth $12,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Baker Tilly Wealth Management LLC lifted its position in AvalonBay Communities by 1.8% during 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 purchasing an additional 58 shares during the period. Golden State Equity Partners raised its position in shares of AvalonBay Communities by 3.7% in the first quarter. Golden State Equity Partners now owns 1,661 shares of the real estate investment trust's stock worth $356,000 after acquiring an additional 60 shares during the period. Signaturefd LLC raised its position 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 position in shares of AvalonBay Communities by 2.6% in the fourth quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust's stock worth $553,000 after acquiring an additional 63 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in shares of AvalonBay Communities by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,179 shares of the real estate investment trust's stock worth $2,679,000 after acquiring an additional 69 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Down 0.7%

Shares of NYSE AVB opened at $206.14 on Wednesday. AvalonBay Communities, Inc. has a 12-month low of $180.40 and a 12-month high of $239.29. The stock has a market cap of $29.35 billion, a PE ratio of 25.67, 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. The company has a 50-day moving average of $205.62 and a 200 day moving average of $212.16.

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

AvalonBay Communities Dividend Announcement

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

Insider Activity

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 shares were sold at an average price of $205.67, for a total value of $1,222,708.15. Following the transaction, the executive vice president now directly owns 17,617 shares in the company, valued at approximately $3,623,288.39. This represents a 25.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin P. O'shea sold 6,000 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $207.57, for a total transaction of $1,245,420.00. Following the completion of the transaction, the chief financial officer now owns 22,782 shares in the company, valued at approximately $4,728,859.74. This represents a 20.85% decrease in their ownership of the stock. 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 research analysts have weighed in on AVB shares. Barclays upped their price objective on shares of AvalonBay Communities from $227.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Royal Bank Of Canada cut their target price on shares of AvalonBay Communities from $223.00 to $220.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. cut their target price on shares of AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating for the company in a research note on Tuesday, June 17th. Truist Financial boosted their target price on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a research note on Monday, March 10th. Finally, Wall Street Zen raised shares of AvalonBay Communities from a "sell" rating to a "hold" rating in a research note on Saturday. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $235.86.

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.

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