Nisa Investment Advisors LLC Sells 6,625 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Nisa Investment Advisors LLC reduced its position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,129 shares of the real estate investment trust's stock after selling 6,625 shares during the period. Nisa Investment Advisors LLC's holdings in AvalonBay Communities were worth $13,667,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its holdings in shares of AvalonBay Communities by 466.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,088 shares of the real estate investment trust's stock worth $239,000 after buying an additional 896 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of AvalonBay Communities during the fourth quarter worth $23,513,000. Raymond James Financial Inc. acquired a new position in shares of AvalonBay Communities during the fourth quarter worth $35,153,000. Sequoia Financial Advisors LLC increased its holdings in shares of AvalonBay Communities by 19.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,778 shares of the real estate investment trust's stock worth $611,000 after buying an additional 457 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of AvalonBay Communities by 132.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,756 shares of the real estate investment trust's stock worth $386,000 after buying an additional 1,001 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AVB. Barclays upped their price target on shares of AvalonBay Communities from $227.00 to $240.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Wall Street Zen downgraded AvalonBay Communities from a "hold" rating to a "sell" rating in a report on Sunday, June 29th. Royal Bank Of Canada decreased their price objective on AvalonBay Communities from $223.00 to $220.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Morgan Stanley increased their price objective on AvalonBay Communities from $226.00 to $228.00 and gave the company an "equal weight" rating in a report on Thursday, May 15th. Finally, Piper Sandler decreased their price objective on AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $235.86.

AvalonBay Communities Trading Down 0.4%

AvalonBay Communities stock traded down $0.89 during trading hours on Friday, reaching $201.81. 513,219 shares of the company's stock were exchanged, compared to its average volume of 745,521. 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 firm's 50 day simple moving average is $204.74 and its 200 day simple moving average is $210.33. AvalonBay Communities, Inc. has a twelve month low of $180.40 and a twelve month high of $239.29. The firm has a market capitalization of $28.73 billion, a PE ratio of 25.13, a PEG ratio of 2.73 and a beta of 0.85.

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

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $1.75 per share. The ex-dividend date is Monday, June 30th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.47%. AvalonBay Communities's dividend payout ratio (DPR) is presently 87.17%.

Insider Transactions at AvalonBay Communities

In other news, EVP Edward M. Schulman sold 5,945 shares of the stock in a transaction dated Friday, June 13th. The shares were 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 of the company's stock, valued at $3,623,288.39. This represents a 25.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin P. O'shea sold 6,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 22,782 shares in the company, 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 corporate insiders.

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.