Adams Diversified Equity Fund Inc. Has $12.36 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Adams Diversified Equity Fund Inc. grew its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 58.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,600 shares of the real estate investment trust's stock after acquiring 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 SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Baker Tilly Wealth Management LLC increased its position in shares of 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 purchasing an additional 58 shares in the last quarter. Golden State Equity Partners increased its position in shares of AvalonBay Communities by 3.7% during the 1st 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 in the last quarter. Signaturefd LLC increased its position in shares of AvalonBay Communities by 4.0% during the 4th quarter. Signaturefd LLC now owns 1,616 shares of the real estate investment trust's stock worth $356,000 after purchasing an additional 62 shares in the last quarter. Private Advisor Group LLC increased its position in shares of AvalonBay Communities by 2.6% during the 4th 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 in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of AvalonBay Communities by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,179 shares of the real estate investment trust's stock worth $2,679,000 after purchasing an additional 69 shares in the last quarter. 92.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AVB has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of AvalonBay Communities from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. JPMorgan Chase & Co. decreased their price objective on shares of AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating on the stock in a report on Tuesday, June 17th. Truist Financial increased their price objective on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a report on Monday, March 10th. Barclays increased their price objective on shares of AvalonBay Communities from $227.00 to $240.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Finally, Mizuho decreased their price objective on shares of AvalonBay Communities from $238.00 to $213.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $235.86.

AvalonBay Communities Trading Up 0.1%

Shares of NYSE AVB traded up $0.23 during mid-day trading on Friday, hitting $204.36. The company's stock had a trading volume of 1,483,556 shares, compared to its average volume of 740,957. The stock has a market cap of $29.09 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 2.78 and a beta of 0.86. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.51 and a quick ratio of 0.51. AvalonBay Communities, Inc. has a one year low of $180.40 and a one year high of $239.29. The company's fifty day simple moving average is $205.71 and its 200-day simple moving average is $211.80.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.03. The company had revenue of $693.43 million for 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 last year, the firm earned $2.70 EPS. 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 will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, June 30th. AvalonBay Communities's dividend payout ratio (DPR) is presently 87.17%.

Insider Activity at AvalonBay Communities

In related news, 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 sale, the chief financial officer now directly owns 22,782 shares in the company, valued at $4,728,859.74. This trade represents a 20.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Edward M. Schulman sold 5,945 shares of the 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 now 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 disclosure for this sale can be found here. 0.45% of the stock is currently owned by corporate insiders.

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.