AvalonBay Communities Inc (NYSE:AVB) EVP William M. Mclaughlin sold 23,302 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $186.87, for a total transaction of $4,354,444.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of NYSE AVB opened at $185.79 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.72. AvalonBay Communities Inc has a 12 month low of $152.65 and a 12 month high of $188.60. The company has a market cap of $25.77 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 2.82 and a beta of 0.38.
AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, October 29th. The real estate investment trust reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.87). AvalonBay Communities had a net margin of 36.54% and a return on equity of 7.96%. 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 prior year, the firm earned $1.72 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts forecast that AvalonBay Communities Inc will post 8.98 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley lifted its stake in shares of 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 valued at $279,528,000 after purchasing an additional 87,440 shares during the period. Legal & General Group Plc lifted its stake in shares of AvalonBay Communities by 2.4% in the 3rd quarter. Legal & General Group Plc now owns 1,207,539 shares of the real estate investment trust’s stock valued at $218,690,000 after purchasing an additional 27,812 shares during the period. Standard Life Aberdeen plc lifted its stake in shares of AvalonBay Communities by 1.8% in the 3rd quarter. Standard Life Aberdeen plc now owns 633,357 shares of the real estate investment trust’s stock valued at $114,733,000 after purchasing an additional 11,201 shares during the period. Nordea Investment Management AB acquired a new position in shares of AvalonBay Communities in the 3rd quarter valued at $1,233,000. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of AvalonBay Communities by 40.5% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 539,908 shares of the real estate investment trust’s stock valued at $97,804,000 after purchasing an additional 155,574 shares during the period. Hedge funds and other institutional investors own 93.55% of the company’s stock.
Several analysts have weighed in on the stock. Argus boosted their target price on shares of AvalonBay Communities to $196.00 and gave the stock a “buy” rating in a research report on Wednesday, August 15th. Robert W. Baird downgraded shares of AvalonBay Communities from an “outperform” rating to a “neutral” rating and set a $197.00 target price on the stock. in a research report on Wednesday, August 15th. Mizuho restated a “buy” rating and set a $212.00 price objective on shares of AvalonBay Communities in a research note on Monday, August 6th. ValuEngine upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Stifel Nicolaus lifted their price objective on shares of AvalonBay Communities from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. AvalonBay Communities currently has a consensus rating of “Hold” and an average 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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