Sienna Gestion Has $9.84 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Key Points

• Sienna Gestion reduced its holdings in AvalonBay Communities, Inc. by 6.1% in the first quarter, now owning 47,144 shares valued at approximately $9.83 million.
• AvalonBay's stock is currently trading at around $191.11, with a market cap of $27.21 billion and a P/E ratio of 23.54.
• The company recently declared a quarterly dividend of $1.75 per share, reflecting an annual payout of $7.00 and a dividend yield of 3.7%.

Sienna Gestion trimmed its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 6.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,144 shares of the real estate investment trust's stock after selling 3,077 shares during the quarter. Sienna Gestion's holdings in AvalonBay Communities were worth $9,835,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AVB. Proathlete Wealth Management LLC acquired a new stake in AvalonBay Communities in the 1st quarter valued at approximately $29,000. Opal Wealth Advisors LLC acquired a new stake in AvalonBay Communities in the 1st quarter valued at approximately $33,000. Ancora Advisors LLC increased its position in AvalonBay Communities by 1,666.7% in the 4th quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 150 shares during the period. Zions Bancorporation National Association UT acquired a new stake in AvalonBay Communities in the 1st quarter valued at approximately $50,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in AvalonBay Communities in the 4th quarter valued at approximately $53,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Up 0.5%

NYSE AVB traded up $0.87 during trading on Friday, hitting $190.19. 767,538 shares of the company traded hands, compared to its average volume of 917,636. AvalonBay Communities, Inc. has a 12 month low of $180.40 and a 12 month high of $239.29. The business has a fifty day simple moving average of $199.66 and a 200 day simple moving average of $206.36. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $27.08 billion, a P/E ratio of 23.42, a PEG ratio of 2.73 and a beta of 0.86.

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

AvalonBay Communities Announces Dividend

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

Insider Transactions at AvalonBay Communities

In other news, EVP Edward M. Schulman sold 5,945 shares of AvalonBay Communities 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 completion of the transaction, the executive vice president owned 17,617 shares in the company, valued at approximately $3,623,288.39. The trade was a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin P. O'shea sold 6,000 shares of AvalonBay Communities stock in a transaction that occurred on Monday, June 16th. The shares were 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 owned 22,782 shares of the company's stock, 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. 0.45% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AVB has been the topic of several analyst reports. Wall Street Zen upgraded AvalonBay Communities from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Piper Sandler reaffirmed a "neutral" rating and set a $200.00 price target (down from $255.00) on shares of AvalonBay Communities in a research note on Monday, August 4th. Morgan Stanley raised AvalonBay Communities from an "equal weight" rating to an "overweight" rating and decreased their price target for the company from $228.00 to $225.00 in a research note on Wednesday. Royal Bank Of Canada decreased their price target on AvalonBay Communities from $216.00 to $211.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. Finally, Mizuho reaffirmed a "neutral" rating and set a $199.00 price target (down from $213.00) on shares of AvalonBay Communities in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $225.64.

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.