Insider Selling: AvalonBay Communities Inc (AVB) CFO Sells 1,500 Shares of Stock

AvalonBay Communities Inc (NYSE:AVB) CFO Kevin P. O’shea sold 1,500 shares of the stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $179.51, for a total value of $269,265.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

AVB stock traded up $2.43 during midday trading on Wednesday, reaching $182.54. The stock had a trading volume of 17,114 shares, compared to its average volume of 574,629. The firm has a market capitalization of $23.94 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 2.56 and a beta of 0.38. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.04 and a quick ratio of 1.04. AvalonBay Communities Inc has a 52-week low of $152.65 and a 52-week high of $188.91.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, October 29th. The real estate investment trust reported $1.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.26 by ($0.87). The firm had revenue of $575.98 million during the quarter, compared to analysts’ expectations of $573.87 million. AvalonBay Communities had a return on equity of 7.96% and a net margin of 36.54%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $1.72 EPS. As a group, equities research analysts expect that AvalonBay Communities Inc will post 9 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a $1.47 dividend. The ex-dividend date was Thursday, September 27th. This represents a $5.88 dividend on an annualized basis and a yield of 3.22%. AvalonBay Communities’s dividend payout ratio (DPR) is 68.21%.

Several analysts have recently commented on the company. Deutsche Bank increased their price objective on AvalonBay Communities from $186.00 to $192.00 and gave the company a “hold” rating in a report on Wednesday, September 5th. Evercore ISI set a $194.00 price objective on AvalonBay Communities and gave the company a “buy” rating in a report on Monday, October 1st. Zelman & Associates lowered AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Monday, August 6th. Mizuho reiterated a “buy” rating and set a $212.00 price objective on shares of AvalonBay Communities in a report on Monday, August 6th. Finally, Robert W. Baird lowered AvalonBay Communities from an “outperform” rating to a “neutral” rating and set a $197.00 price objective for the company. in a report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $193.24.

A number of hedge funds have recently modified their holdings of AVB. Long Pond Capital LP raised its stake in AvalonBay Communities by 71.0% in the 2nd quarter. Long Pond Capital LP now owns 764,656 shares of the real estate investment trust’s stock worth $131,437,000 after acquiring an additional 317,360 shares during the last quarter. Barings LLC raised its stake in AvalonBay Communities by 10,824.0% in the 3rd quarter. Barings LLC now owns 309,040 shares of the real estate investment trust’s stock worth $55,983,000 after acquiring an additional 306,211 shares during the last quarter. Millennium Management LLC raised its stake in AvalonBay Communities by 2,671.7% in the 2nd quarter. Millennium Management LLC now owns 248,176 shares of the real estate investment trust’s stock worth $42,659,000 after acquiring an additional 239,222 shares during the last quarter. Principal Financial Group Inc. raised its stake in AvalonBay Communities by 8.1% in the 1st quarter. Principal Financial Group Inc. now owns 3,092,546 shares of the real estate investment trust’s stock worth $508,600,000 after acquiring an additional 232,456 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of AvalonBay Communities by 111.7% during the 3rd quarter. American Century Companies Inc. now owns 410,221 shares of the real estate investment trust’s stock valued at $74,312,000 after buying an additional 216,457 shares during the last quarter. Institutional investors own 93.49% of the company’s stock.

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About AvalonBay Communities

As of June 30, 2018, the Company owned or held a direct or indirect ownership interest in 287 apartment communities containing 84,043 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 16 communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

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