AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. decreased its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 4.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,764 shares of the real estate investment trust's stock after selling 1,504 shares during the quarter. Contravisory Investment Management Inc.'s holdings in AvalonBay Communities were worth $7,461,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bremer Bank National Association lifted its stake in shares of AvalonBay Communities by 7.2% in the 1st quarter. Bremer Bank National Association now owns 14,561 shares of the real estate investment trust's stock valued at $3,125,000 after purchasing an additional 973 shares in the last quarter. Unigestion Holding SA lifted its holdings in shares of AvalonBay Communities by 66.1% during the 1st quarter. Unigestion Holding SA now owns 4,259 shares of the real estate investment trust's stock valued at $914,000 after acquiring an additional 1,695 shares in the last quarter. Sarasin & Partners LLP lifted its holdings in shares of AvalonBay Communities by 7.2% during the 1st quarter. Sarasin & Partners LLP now owns 28,438 shares of the real estate investment trust's stock valued at $6,406,000 after acquiring an additional 1,917 shares in the last quarter. Baker Tilly Wealth Management LLC boosted its position in 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 during the period. Finally, Czech National Bank increased its holdings in AvalonBay Communities by 5.9% in the 1st quarter. Czech National Bank now owns 32,630 shares of the real estate investment trust's stock valued at $7,003,000 after purchasing an additional 1,830 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

AvalonBay Communities Stock Performance

NYSE AVB traded down $1.85 during trading hours on Thursday, reaching $202.76. The company's stock had a trading volume of 875,309 shares, compared to its average volume of 718,018. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. The business has a 50-day simple moving average of $203.72 and a 200 day simple moving average of $214.70. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29. The stock has a market cap of $28.87 billion, a PE ratio of 26.71, a PEG ratio of 3.11 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.03. AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. The business had revenue of $693.43 million for the quarter, compared to the consensus estimate of $744.61 million. During the same quarter last year, the business posted $2.70 EPS. Equities research analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $1.75 dividend. The ex-dividend date is Monday, June 30th. This represents a $7.00 dividend on an annualized basis and a yield of 3.45%. AvalonBay Communities's dividend payout ratio (DPR) is 87.17%.

Analysts Set New Price Targets

Several brokerages recently commented on AVB. Wall Street Zen downgraded AvalonBay Communities from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Zelman & Associates upgraded shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research note on Thursday, February 13th. BMO Capital Markets cut shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price target on the stock. in a report on Friday, April 4th. Piper Sandler reduced their price objective on shares of AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, Morgan Stanley boosted their target price on shares of AvalonBay Communities from $226.00 to $228.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $237.86.

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.