AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Cerity Partners LLC

Cerity Partners LLC cut its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,699 shares of the real estate investment trust's stock after selling 1,946 shares during the quarter. Cerity Partners LLC's holdings in AvalonBay Communities were worth $12,383,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Baker Tilly Wealth Management LLC increased its stake in shares of AvalonBay Communities by 1.8% in 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 acquiring an additional 58 shares during the last quarter. Golden State Equity Partners grew its holdings 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 during the period. Signaturefd LLC grew its holdings 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of AvalonBay Communities by 0.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,953 shares of the real estate investment trust's stock worth $5,929,000 after purchasing an additional 72 shares during the period. Finally, Global X Japan Co. Ltd. grew its holdings in shares of AvalonBay Communities by 24.9% during the 1st quarter. Global X Japan Co. Ltd. now owns 371 shares of the real estate investment trust's stock worth $80,000 after purchasing an additional 74 shares during the period. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

Shares of AVB opened at $201.81 on Monday. The stock has a 50-day simple moving average of $204.74 and a 200-day simple moving average of $210.14. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market capitalization of $28.73 billion, a PE ratio of 25.13, a PEG ratio of 2.72 and a beta of 0.85. AvalonBay Communities, Inc. has a 1 year low of $180.40 and a 1 year high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $693.43 million during the quarter, compared to analysts' expectations of $744.61 million. AvalonBay Communities had a return on equity of 9.65% and a net margin of 38.86%. During the same quarter last year, the business posted $2.70 EPS. On average, analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

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 given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Monday, June 30th. AvalonBay Communities's dividend payout ratio (DPR) is presently 87.17%.

Insider Activity

In other news, EVP Edward M. Schulman sold 5,945 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the sale, the executive vice president owned 17,617 shares of the company's stock, valued at approximately $3,623,288.39. This trade represents a 25.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin P. O'shea sold 6,000 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was 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 $4,728,859.74. This trade represents a 20.85% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AVB has been the subject of a number of research analyst reports. Royal Bank Of Canada lowered their price target on AvalonBay Communities from $223.00 to $220.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Barclays increased their price target on AvalonBay Communities from $227.00 to $240.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Wall Street Zen cut AvalonBay Communities from a "hold" rating to a "sell" rating in a report on Sunday, June 29th. Piper Sandler lowered their price target on AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. lowered their price target on AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating for the company in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price 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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