Insider Selling: AvalonBay Communities Inc (AVB) SVP Sells $347,988.00 in Stock

AvalonBay Communities Inc (NYSE:AVB) SVP Keri A. Shea sold 1,880 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $185.10, for a total value of $347,988.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

AVB stock opened at $185.79 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.77 and a current ratio of 0.77. AvalonBay Communities Inc has a 12-month low of $152.65 and a 12-month high of $188.60. The stock has a market capitalization of $25.77 billion, a P/E ratio of 20.90, a PEG ratio of 2.82 and a beta of 0.38.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $1.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.87). AvalonBay Communities had a return on equity of 7.96% and a net margin of 36.54%. The firm had revenue of $575.98 million during the quarter, compared to analyst estimates of $573.87 million. During the same quarter in the previous year, the firm posted $1.72 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts expect that AvalonBay Communities Inc will post 8.98 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, December 28th. AvalonBay Communities’s payout ratio is 68.21%.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in AvalonBay Communities by 1.6% in the 3rd quarter. BlackRock Inc. now owns 15,315,518 shares of the real estate investment trust’s stock worth $2,774,406,000 after buying an additional 242,688 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in AvalonBay Communities by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,087,991 shares of the real estate investment trust’s stock worth $378,227,000 after purchasing an additional 9,342 shares in the last quarter. Renaissance Technologies LLC lifted its stake in AvalonBay Communities by 1.7% in the 3rd quarter. Renaissance Technologies LLC now owns 1,549,800 shares of the real estate investment trust’s stock worth $280,746,000 after purchasing an additional 25,286 shares in the last quarter. Morgan Stanley lifted its stake in AvalonBay Communities by 6.0% in the 3rd quarter. Morgan Stanley now owns 1,543,079 shares of the real estate investment trust’s stock worth $279,528,000 after purchasing an additional 87,440 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in AvalonBay Communities by 4.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,445,048 shares of the real estate investment trust’s stock worth $248,390,000 after purchasing an additional 65,431 shares in the last quarter. Institutional investors own 93.55% of the company’s stock.

A number of research firms have recently commented on AVB. Argus raised their target price on AvalonBay Communities from $196.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday. ValuEngine upgraded AvalonBay Communities from a “hold” rating to a “buy” rating in a research report on Wednesday. Scotiabank set a $183.00 target price on AvalonBay Communities and gave the company a “hold” rating in a research report on Monday, November 12th. BMO Capital Markets upgraded AvalonBay Communities from a “market perform” rating to an “outperform” rating and raised their target price for the company from $188.00 to $195.00 in a research report on Friday, November 2nd. Finally, Evercore ISI set a $194.00 target price on AvalonBay Communities and gave the company a “buy” rating in a research report on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $192.41.

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AvalonBay Communities Company Profile

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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