William M. Mclaughlin Sells 2,500 Shares of AvalonBay Communities Inc (AVB) Stock

AvalonBay Communities Inc (NYSE:AVB) insider William M. Mclaughlin sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $199.76, for a total transaction of $499,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of NYSE AVB traded up $0.70 on Thursday, reaching $200.07. 462,438 shares of the company’s stock traded hands, compared to its average volume of 582,101. AvalonBay Communities Inc has a 12 month low of $156.40 and a 12 month high of $200.40. The company has a market capitalization of $27.54 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 3.80 and a beta of 0.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.63 and a current ratio of 0.63.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Monday, February 4th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.32 by ($0.01). AvalonBay Communities had a net margin of 42.66% and a return on equity of 9.33%. The business had revenue of $578.52 million for the quarter, compared to the consensus estimate of $576.56 million. During the same period in the prior year, the business posted $1.72 EPS. AvalonBay Communities’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts forecast that AvalonBay Communities Inc will post 9.32 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a dividend of $1.52 per share. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $6.08 dividend on an annualized basis and a dividend yield of 3.04%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 65.33%.

Several hedge funds and other institutional investors have recently made changes to their positions in AVB. Robeco Institutional Asset Management B.V. increased its stake in shares of AvalonBay Communities by 1.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 111,100 shares of the real estate investment trust’s stock valued at $20,127,000 after purchasing an additional 1,337 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of AvalonBay Communities by 2.0% during the third quarter. Wells Fargo & Company MN now owns 365,076 shares of the real estate investment trust’s stock valued at $66,134,000 after buying an additional 7,278 shares during the last quarter. Commerce Bank purchased a new stake in shares of AvalonBay Communities during the third quarter valued at approximately $204,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of AvalonBay Communities by 2.6% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 640,664 shares of the real estate investment trust’s stock valued at $116,056,000 after buying an additional 16,029 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of AvalonBay Communities by 0.7% during the third quarter. Toronto Dominion Bank now owns 89,837 shares of the real estate investment trust’s stock valued at $16,270,000 after buying an additional 599 shares during the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

AVB has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a research note on Thursday, January 17th. Citigroup downgraded shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and increased their price target for the stock from $190.00 to $205.00 in a research note on Thursday, February 21st. They noted that the move was a valuation call. BTIG Research raised shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $216.00 price target for the company in a research note on Thursday, December 6th. SunTrust Banks increased their price target on shares of AvalonBay Communities to $208.00 and gave the stock an “average” rating in a research note on Thursday, February 14th. Finally, ValuEngine raised shares of AvalonBay Communities from a “hold” rating to a “buy” rating in a research note on Thursday, January 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $197.33.

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AvalonBay Communities Company Profile

As of December 31, 2018, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,158 apartment homes in 12 states and the District of Columbia, of which 21 communities were under development and nine 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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