AvalonBay Communities EVP Sells $156,000 in Stock (AVB)
AvalonBay Communities (NYSE:AVB) EVP Sean J. Breslin unloaded 1,200 shares of AvalonBay Communities stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $130.00, for a total transaction of $156,000.00. Following the sale, the executive vice president now directly owns 23,940 shares in the company, valued at approximately $3,112,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
AvalonBay Communities (NYSE:AVB) traded down 0.33% during mid-day trading on Wednesday, hitting $128.80. The stock had a trading volume of 314,612 shares. AvalonBay Communities has a 52-week low of $114.16 and a 52-week high of $141.95. The stock’s 50-day moving average is $124.3 and its 200-day moving average is $124.5. The company has a market cap of $16.669 billion and a price-to-earnings ratio of 55.75.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.06. The company had revenue of $400.00 million for the quarter, compared to the consensus estimate of $393.41 million. During the same quarter in the previous year, the company posted $1.27 earnings per share. The company’s revenue for the quarter was up 45.0% on a year-over-year basis. Analysts expect that AvalonBay Communities will post $6.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Thursday, March 27th. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.07.
AVB has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of AvalonBay Communities in a research note on Friday, February 14th. They now have a $135.00 price target on the stock. Separately, analysts at Compass Point cut their price target on shares of AvalonBay Communities from $134.00 to $132.00 in a research note on Monday, February 3rd. They now have a “neutral” rating on the stock. Finally, analysts at Deutsche Bank cut their price target on shares of AvalonBay Communities from $145.00 to $138.00 in a research note on Monday, January 27th. They now have a “buy” rating on the stock. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $142.17.
AvalonBay Communities, Inc is a real estate investment trust (NYSE:AVB) .
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