AvalonBay Communities Inc (NYSE:AVB) insider Leo S. Horey III sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $196.10, for a total transaction of $980,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link.
Shares of AVB stock traded up $1.69 during mid-day trading on Tuesday, hitting $197.36. The company had a trading volume of 17,064 shares, compared to its average volume of 583,846. AvalonBay Communities Inc has a 52-week low of $152.65 and a 52-week high of $197.67. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market capitalization of $27.03 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 3.75 and a beta of 0.62.
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AvalonBay Communities (NYSE:AVB) last released its earnings results on Monday, February 4th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01). AvalonBay Communities had a return on equity of 9.33% and a net margin of 42.66%. The company had revenue of $578.52 million during the quarter, compared to analysts’ expectations of $576.56 million. During the same period last year, the firm posted $1.72 EPS. AvalonBay Communities’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, research analysts predict that AvalonBay Communities Inc will post 9.31 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be issued a $1.52 dividend. This represents a $6.08 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Thursday, March 28th. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.47. AvalonBay Communities’s payout ratio is 65.33%.
Several analysts have issued reports on AVB shares. Zacks Investment Research upgraded shares of AvalonBay Communities from a “hold” rating to a “buy” rating and set a $200.00 target price on the stock in a research note on Tuesday, January 15th. SunTrust Banks increased their target price on shares of AvalonBay Communities to $208.00 and gave the stock an “average” rating in a research note on Thursday, February 14th. ValuEngine upgraded shares of AvalonBay Communities from a “hold” rating to a “buy” rating in a research report on Thursday, January 24th. Scotiabank set a $183.00 price objective on shares of AvalonBay Communities and gave the company a “hold” rating in a research report on Monday, November 12th. Finally, Argus increased their target price on shares of AvalonBay Communities from $196.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, November 21st. One equities research 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 stock presently has a consensus rating of “Hold” and an average target price of $197.33.
Several hedge funds have recently added to or reduced their stakes in AVB. Norges Bank purchased a new position in shares of AvalonBay Communities in the fourth quarter worth $225,932,000. BlackRock Inc. raised its stake in 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 valued at $2,732,748,000 after purchasing an additional 385,430 shares in the last quarter. Teachers Advisors LLC raised its stake in AvalonBay Communities by 57.2% during the third quarter. Teachers Advisors LLC now owns 953,409 shares of the real estate investment trust’s stock valued at $172,710,000 after purchasing an additional 346,861 shares in the last quarter. Scout Investments Inc. purchased a new stake in AvalonBay Communities during the fourth quarter valued at $50,433,000. Finally, California Public Employees Retirement System raised its stake in 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 valued at $122,725,000 after purchasing an additional 236,078 shares in the last quarter. 92.38% of the stock is currently owned by hedge funds and other institutional investors.
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About AvalonBay Communities
As of September 30, 2018, the Company owned or held a direct or indirect ownership interest in 290 apartment communities containing 84,490 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 15 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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