Penserra Capital Management LLC Purchases 3,049 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Proathlete Wealth Management LLC acquired a new position in shares of AvalonBay Communities during the 1st quarter worth approximately $29,000. Opal Wealth Advisors LLC acquired a new position in shares of AvalonBay Communities in the 1st quarter valued at $33,000. Ancora Advisors LLC lifted its stake in AvalonBay Communities by 1,666.7% during the 4th quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 150 shares in the last quarter. Crowley Wealth Management Inc. acquired a new position in AvalonBay Communities during the 4th quarter worth about $44,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in AvalonBay Communities during the 4th quarter worth about $53,000. Institutional investors and hedge funds own 92.61% of the company's stock.

AvalonBay Communities Stock Down 0.4%

Shares of AVB stock opened at $201.60 on Wednesday. The company has a market capitalization of $28.70 billion, a price-to-earnings ratio of 25.11, a P/E/G ratio of 2.73 and a beta of 0.85. AvalonBay Communities, Inc. has a 12-month low of $180.40 and a 12-month high of $239.29. The firm has a fifty day moving average of $205.26 and a 200-day moving average of $210.67. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.70.

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

AvalonBay Communities Announces Dividend

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

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, CFO Kevin P. O'shea sold 6,000 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $207.57, for a total transaction of $1,245,420.00. Following 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 filing with the SEC, which is accessible through this hyperlink. Also, 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 approximately $3,623,288.39. The trade was a 25.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective 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. JPMorgan Chase & Co. lowered their price objective on AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating on the stock in a report on Tuesday, June 17th. Royal Bank Of Canada lowered their price objective on AvalonBay Communities from $223.00 to $220.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. Mizuho reduced their price target on shares of AvalonBay Communities from $238.00 to $213.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. Finally, BMO Capital Markets downgraded AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price objective for the company. in a research report on Friday, April 4th. 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 MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $235.86.

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.

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