Mirae Asset Global Investments Co. Ltd. Has $8.48 Million Position in AvalonBay Communities, Inc. (NYSE:AVB)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 72.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,692 shares of the real estate investment trust's stock after buying an additional 16,694 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in AvalonBay Communities were worth $8,477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVB. Proathlete Wealth Management LLC bought a new position in AvalonBay Communities during the 1st quarter worth approximately $29,000. Opal Wealth Advisors LLC bought a new position in shares of AvalonBay Communities during the first quarter worth $33,000. Ancora Advisors LLC grew its holdings in shares of 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 buying an additional 150 shares during the period. Crowley Wealth Management Inc. bought a new stake in shares of AvalonBay Communities in the 4th quarter valued at $44,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of AvalonBay Communities in the 4th quarter valued at $53,000. 92.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Kevin P. O'shea sold 6,000 shares of the business's 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward M. Schulman sold 5,945 shares of the company'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 sale, the executive vice president owned 17,617 shares of the company's stock, valued at approximately $3,623,288.39. This represents a 25.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.45% of the company's stock.

AvalonBay Communities Price Performance

Shares of NYSE:AVB traded up $1.91 during trading on Friday, reaching $203.91. 347,838 shares of the company traded hands, compared to its average volume of 743,573. The firm has a market capitalization of $29.03 billion, a PE ratio of 25.39, a PEG ratio of 2.73 and a beta of 0.85. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week 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's 50 day moving average is $205.52 and its two-hundred day moving average is $211.14.

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 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.03. AvalonBay Communities had a net margin of 38.86% and a return on equity of 9.65%. The business had revenue of $693.43 million during the quarter, compared to analysts' expectations of $744.61 million. During the same quarter in the prior year, the business posted $2.70 earnings per share. As a group, sell-side analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 3.43%. The ex-dividend date is Monday, June 30th. AvalonBay Communities's payout ratio is presently 87.17%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AVB. Barclays raised their price target on AvalonBay Communities from $227.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Royal Bank Of Canada cut their price target on shares of AvalonBay Communities from $223.00 to $220.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. BMO Capital Markets cut shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price target for the company. in a report on Friday, April 4th. Truist Financial raised their price objective on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a report on Monday, March 10th. Finally, Mizuho cut their price objective on shares of AvalonBay Communities from $238.00 to $213.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $235.86.

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.