Golden State Wealth Management LLC Acquires 1,234 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Golden State Wealth Management LLC raised its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 5,609.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,256 shares of the real estate investment trust's stock after acquiring an additional 1,234 shares during the quarter. Golden State Wealth Management LLC's holdings in AvalonBay Communities were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of AVB. Truist Financial Corp lifted its holdings in AvalonBay Communities by 6.2% in the 4th quarter. Truist Financial Corp now owns 8,033 shares of the real estate investment trust's stock valued at $1,767,000 after acquiring an additional 472 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in AvalonBay Communities by 146.2% in the 4th quarter. Global Retirement Partners LLC now owns 544 shares of the real estate investment trust's stock valued at $120,000 after acquiring an additional 323 shares during the last quarter. Private Advisor Group LLC lifted its holdings in AvalonBay Communities by 2.6% in the 4th quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust's stock valued at $553,000 after acquiring an additional 63 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in AvalonBay Communities in the 4th quarter valued at about $893,000. Finally, Oregon Public Employees Retirement Fund lifted its stake in AvalonBay Communities by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,179 shares of the real estate investment trust's stock valued at $2,679,000 after buying an additional 69 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AvalonBay Communities news, EVP Edward M. Schulman sold 5,945 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 17,617 shares in the company, valued at $3,623,288.39. This trade represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the chief financial officer directly owned 22,782 shares of the company's stock, valued at $4,728,859.74. This represents a 20.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company's stock.

AvalonBay Communities Stock Down 0.1%

Shares of AVB traded down $0.21 during trading hours on Tuesday, reaching $203.29. The company's stock had a trading volume of 1,077,763 shares, compared to its average volume of 743,467. The firm has a market cap of $28.94 billion, a price-to-earnings ratio of 25.32, a P/E/G ratio of 2.77 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. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.70. The company has a 50 day moving average of $205.67 and a two-hundred day moving average of $211.37.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, topping 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 firm had revenue of $693.43 million for the quarter, compared to the consensus estimate of $744.61 million. During the same quarter in the prior year, the company posted $2.70 earnings per share. As a group, research analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued 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 3.44%. AvalonBay Communities's dividend payout ratio is currently 87.17%.

Analyst Ratings Changes

A number of analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating for the company in a research note on Tuesday, June 17th. Barclays upped their price objective on shares of AvalonBay Communities from $227.00 to $240.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Mizuho reduced their price objective 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. Morgan Stanley upped their price objective on shares of AvalonBay Communities from $226.00 to $228.00 and gave the company an "equal weight" rating in a research note on Thursday, May 15th. Finally, Truist Financial upped their price objective on shares of AvalonBay Communities from $229.00 to $230.00 and gave the company a "hold" rating in a research note on Monday, March 10th. 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 MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $235.86.

AvalonBay Communities 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.