AvalonBay Communities Inc (NYSE:AVB) Insider Sells $420,000.00 in Stock

AvalonBay Communities Inc (NYSE:AVB) insider Leo S. Horey III sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $210.00, for a total value of $420,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Leo S. Horey III also recently made the following trade(s):

  • On Monday, June 10th, Leo S. Horey III sold 1,000 shares of AvalonBay Communities stock. The shares were sold at an average price of $209.28, for a total value of $209,280.00.

NYSE AVB traded down $2.15 on Wednesday, reaching $207.19. The stock had a trading volume of 815,334 shares, compared to its average volume of 551,751. The firm has a market cap of $29.14 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 4.00 and a beta of 0.54. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.67. AvalonBay Communities Inc has a 12-month low of $165.53 and a 12-month high of $210.93.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.02. AvalonBay Communities had a return on equity of 9.52% and a net margin of 45.94%. The business had revenue of $459.80 million for the quarter, compared to analyst estimates of $575.92 million. During the same quarter in the prior year, the company earned $2.18 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. Analysts anticipate that AvalonBay Communities Inc will post 9.34 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $1.52 per share. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, June 27th. AvalonBay Communities’s dividend payout ratio is currently 67.56%.

Several institutional investors have recently bought and sold shares of AVB. Norges Bank purchased a new stake in shares of AvalonBay Communities during the fourth quarter worth $225,932,000. Principal Financial Group Inc. increased its position in shares of AvalonBay Communities by 11.8% during the first quarter. Principal Financial Group Inc. now owns 4,208,825 shares of the real estate investment trust’s stock worth $844,837,000 after acquiring an additional 445,179 shares during the period. BlackRock Inc. increased its position in shares of AvalonBay Communities by 2.5% during the fourth quarter. BlackRock Inc. now owns 15,700,948 shares of the real estate investment trust’s stock worth $2,732,748,000 after acquiring an additional 385,430 shares during the period. Deutsche Bank AG increased its position in shares of AvalonBay Communities by 119.8% during the fourth quarter. Deutsche Bank AG now owns 589,395 shares of the real estate investment trust’s stock worth $102,575,000 after acquiring an additional 321,291 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of AvalonBay Communities by 50.3% during the fourth quarter. California Public Employees Retirement System now owns 705,114 shares of the real estate investment trust’s stock worth $122,725,000 after acquiring an additional 236,078 shares during the period. 91.88% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently commented on the company. Barclays upped their price objective on AvalonBay Communities from $203.00 to $211.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. SunTrust Banks boosted their target price on AvalonBay Communities to $208.00 and gave the company an “average” rating in a research report on Thursday, February 14th. Mizuho lowered AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $210.00 target price on the stock. in a research report on Wednesday, May 8th. Argus reissued a “buy” rating and issued a $215.00 target price on shares of AvalonBay Communities in a research report on Tuesday, April 30th. Finally, Citigroup lowered AvalonBay Communities from a “buy” rating to a “neutral” rating and boosted their target price for the company from $190.00 to $205.00 in a research report on Thursday, February 21st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $202.67.

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AvalonBay Communities Company Profile

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 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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