Insider Selling: AvalonBay Communities Inc (AVB) EVP Sells 4,092 Shares of Stock

AvalonBay Communities Inc (NYSE:AVB) EVP Edward M. Schulman sold 4,092 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $198.94, for a total transaction of $814,062.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of NYSE AVB traded down $0.76 during midday trading on Friday, reaching $199.31. 3,906 shares of the company traded hands, compared to its average volume of 582,101. AvalonBay Communities Inc has a 52 week low of $156.40 and a 52 week high of $200.40. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.66. The stock has a market cap of $27.54 billion, a P/E ratio of 22.17, a P/E/G ratio of 3.80 and a beta of 0.60.

AvalonBay Communities (NYSE:AVB) last issued its quarterly 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 business had revenue of $578.52 million during the quarter, compared to the consensus estimate of $576.56 million. During the same quarter last year, the firm posted $1.72 earnings per share. AvalonBay Communities’s revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts anticipate that AvalonBay Communities Inc will post 9.32 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be given a $1.52 dividend. The ex-dividend date is Thursday, March 28th. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.47. This represents a $6.08 annualized dividend and a yield of 3.05%. AvalonBay Communities’s payout ratio is 65.33%.

Several equities analysts have recently issued reports on the stock. Citigroup downgraded shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and boosted their price target for the company from $190.00 to $205.00 in a report on Thursday, February 21st. They noted that the move was a valuation call. SunTrust Banks lifted their price objective on shares of AvalonBay Communities to $208.00 and gave the company 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 note on Thursday, January 24th. Zacks Investment Research cut shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a research note on Thursday, January 17th. Finally, Morgan Stanley lifted their price objective on shares of AvalonBay Communities from $168.00 to $194.00 and gave the company an “equal weight” rating in a research note on Monday, December 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $197.33.

A number of institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in AvalonBay Communities in the fourth quarter worth about $225,932,000. Actinver Wealth Management Inc. bought a new stake in AvalonBay Communities in the fourth quarter worth about $224,000. Teacher Retirement System of Texas raised its position in AvalonBay Communities by 420.8% in the fourth quarter. Teacher Retirement System of Texas now owns 155,380 shares of the real estate investment trust’s stock worth $27,044,000 after acquiring an additional 125,544 shares in the last quarter. Coldstream Capital Management Inc. raised its position in AvalonBay Communities by 0.9% in the fourth quarter. Coldstream Capital Management Inc. now owns 13,632 shares of the real estate investment trust’s stock worth $2,372,000 after acquiring an additional 124 shares in the last quarter. Finally, FMR LLC raised its holdings in AvalonBay Communities by 4.9% during the 4th quarter. FMR LLC now owns 3,715,588 shares of the real estate investment trust’s stock worth $646,697,000 after buying an additional 172,264 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.

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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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