Penserra Capital Management LLC Increases Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Penserra Capital Management LLC lifted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 77.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,982 shares of the real estate investment trust's stock after buying an additional 3,049 shares during the quarter. Penserra Capital Management LLC's holdings in AvalonBay Communities were worth $1,496,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AVB. Jones Financial Companies Lllp grew its position 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 AvalonBay Communities in the fourth quarter valued at approximately $23,513,000. Raymond James Financial Inc. acquired a new position in AvalonBay Communities in the fourth quarter valued at approximately $35,153,000. Larson Financial Group LLC boosted its holdings in AvalonBay Communities by 23.8% in the fourth quarter. Larson Financial Group LLC now owns 1,922 shares of the real estate investment trust's stock valued at $423,000 after purchasing an additional 369 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in AvalonBay Communities by 27.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,708 shares of the real estate investment trust's stock valued at $26,112,000 after purchasing an additional 25,922 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, CFO Kevin P. O'shea sold 6,000 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $207.57, for a total value of $1,245,420.00. Following the completion of the transaction, the chief financial officer owned 22,782 shares in the company, valued at approximately $4,728,859.74. This represents a 20.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Edward M. Schulman sold 5,945 shares of the 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 completion of the transaction, the executive vice president 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. Corporate insiders own 0.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AVB shares. JPMorgan Chase & Co. lowered their price target on AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating for the company in a report on Tuesday, June 17th. BMO Capital Markets downgraded 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. Royal Bank Of Canada lowered their price target 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. Mizuho lowered their price target on AvalonBay Communities from $238.00 to $213.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. Finally, Piper Sandler lowered their price target 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 equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $235.86.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock traded up $1.58 during trading hours on Thursday, hitting $202.21. 132,476 shares of the company were exchanged, compared to its average volume of 806,765. AvalonBay Communities, Inc. has a 1 year low of $180.40 and a 1 year high of $239.29. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average of $205.08 and a 200-day moving average of $210.61. The stock has a market capitalization of $28.79 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 2.71 and a beta of 0.85.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, topping the consensus estimate 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 quarter in the prior year, the business earned $2.70 earnings per share. As a group, analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed 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. This represents a $7.00 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Monday, June 30th. AvalonBay Communities's payout ratio 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.