Insider Selling: AvalonBay Communities, Inc. (NYSE:AVB) CFO Sells 6,000 Shares of Stock

AvalonBay Communities, Inc. (NYSE:AVB - Get Free Report) CFO Kevin P. O'shea sold 6,000 shares of the business's 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 now owns 22,782 shares of the company's stock, valued at $4,728,859.74. This trade represents a 20.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AvalonBay Communities Price Performance

AVB stock traded down $1.04 during mid-day trading on Tuesday, reaching $206.18. The company's stock had a trading volume of 681,319 shares, compared to its average volume of 728,934. 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 company's 50 day moving average is $204.59 and its two-hundred day moving average is $212.95. AvalonBay Communities, Inc. has a fifty-two week low of $180.40 and a fifty-two week high of $239.29. The stock has a market cap of $29.35 billion, a PE ratio of 25.68, a P/E/G ratio of 2.82 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (EPS) for the quarter, beating 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 business had revenue of $693.43 million during the quarter, compared to analyst estimates of $744.61 million. During the same period in the prior year, the business earned $2.70 earnings per share. Equities research analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business 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 $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Monday, June 30th. AvalonBay Communities's dividend payout ratio (DPR) is presently 87.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AVB. JPMorgan Chase & Co. decreased their target price on AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating on the stock in a research report on Tuesday. Wall Street Zen downgraded shares of AvalonBay Communities from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. BMO Capital Markets lowered shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 target price on the stock. in a research report on Friday, April 4th. Barclays boosted their target price on shares of AvalonBay Communities from $227.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Finally, Piper Sandler decreased their price target on shares of AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. One investment 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 data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $235.86.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AVB. Vanguard Group Inc. grew its holdings in shares of AvalonBay Communities by 0.4% in the first quarter. Vanguard Group Inc. now owns 22,672,682 shares of the real estate investment trust's stock valued at $4,866,011,000 after purchasing an additional 96,790 shares during the period. Norges Bank purchased a new position in AvalonBay Communities during the fourth quarter worth about $1,499,050,000. Price T Rowe Associates Inc. MD boosted its holdings in AvalonBay Communities by 7.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,520,036 shares of the real estate investment trust's stock valued at $1,184,712,000 after purchasing an additional 367,853 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in AvalonBay Communities by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 4,590,539 shares of the real estate investment trust's stock valued at $1,009,781,000 after purchasing an additional 27,629 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of AvalonBay Communities by 3.9% in the 1st quarter. JPMorgan Chase & Co. now owns 3,814,430 shares of the real estate investment trust's stock valued at $818,653,000 after buying an additional 143,646 shares during the period. Hedge funds and other institutional investors own 92.61% of the company's stock.

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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