AvalonBay Communities, Inc. (NYSE:AVB) Stock Holdings Lessened by Auto Owners Insurance Co

Auto Owners Insurance Co lowered its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 84.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,200 shares of the real estate investment trust's stock after selling 54,800 shares during the period. Auto Owners Insurance Co's holdings in AvalonBay Communities were worth $2,189,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Proathlete Wealth Management LLC bought a new position in AvalonBay Communities in the 1st quarter worth $29,000. Opal Wealth Advisors LLC bought a new position in AvalonBay Communities in the 1st quarter worth $33,000. Ancora Advisors LLC raised its holdings 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 worth $35,000 after acquiring an additional 150 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in AvalonBay Communities in the 4th quarter worth $53,000. Finally, Continuum Advisory LLC grew its position in AvalonBay Communities by 12,200.0% in the 4th quarter. Continuum Advisory LLC now owns 246 shares of the real estate investment trust's stock worth $54,000 after purchasing an additional 244 shares during the last quarter. Institutional investors own 92.61% of the company's stock.

Insider Activity

In related news, CFO Kevin P. O'shea sold 6,000 shares of AvalonBay Communities stock in a transaction 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 directly owned 22,782 shares of the company's stock, valued at approximately $4,728,859.74. The trade was a 20.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Edward M. Schulman sold 5,945 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $205.67, for a total value of $1,222,708.15. Following the transaction, the executive vice president directly owned 17,617 shares of the company's stock, valued at $3,623,288.39. The trade was a 25.23% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AVB shares. JPMorgan Chase & Co. cut their price target on shares of AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating for the company in a report on Tuesday, June 17th. Barclays boosted their target price on shares of AvalonBay Communities from $240.00 to $241.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Mizuho dropped their target price on shares of AvalonBay Communities from $238.00 to $213.00 and set an "outperform" rating for the company in a research note on Friday, May 23rd. BMO Capital Markets downgraded shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 target price for the company. in a research note on Friday, April 4th. Finally, Piper Sandler dropped their target price on shares of AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, AvalonBay Communities currently has a consensus rating of "Hold" and a consensus target price of $235.07.

AvalonBay Communities Trading Up 1.9%

AvalonBay Communities stock opened at $204.61 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.70. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29. The company has a market capitalization of $29.13 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 2.70 and a beta of 0.85. The stock has a 50-day moving average price of $204.20 and a 200 day moving average price of $209.52.

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

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $1.75 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $7.00 annualized dividend and a yield of 3.42%. AvalonBay Communities's dividend payout ratio (DPR) is 87.17%.

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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