AvalonBay Communities, Inc. (NYSE:AVB) Director Timothy J. Naughton Sells 2,261 Shares

AvalonBay Communities, Inc. (NYSE:AVB) Director Timothy J. Naughton sold 2,261 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $233.78, for a total value of $528,576.58. Following the sale, the director now owns 111,436 shares in the company, valued at approximately $26,051,508.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

AvalonBay Communities Stock Up 1.3 %

Shares of NYSE AVB opened at $233.11 on Thursday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $33.15 billion, a PE ratio of 31.89, a price-to-earnings-growth ratio of 3.36 and a beta of 0.97. AvalonBay Communities, Inc. has a 12-month low of $166.60 and a 12-month high of $236.26. The stock’s fifty day simple moving average is $226.11 and its two-hundred day simple moving average is $211.90.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The business had revenue of $734.31 million during the quarter, compared to analyst estimates of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same period in the previous year, the business earned $2.66 EPS. As a group, analysts expect that AvalonBay Communities, Inc. will post 11.04 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $1.70 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.92%. AvalonBay Communities’s payout ratio is 93.02%.

Institutional Trading of AvalonBay Communities

Institutional investors have recently made changes to their positions in the business. Vinva Investment Management Ltd lifted its position in AvalonBay Communities by 76.4% during the 3rd quarter. Vinva Investment Management Ltd now owns 9,969 shares of the real estate investment trust’s stock worth $2,245,000 after acquiring an additional 4,318 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in AvalonBay Communities by 678.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust’s stock worth $386,315,000 after acquiring an additional 1,494,872 shares during the period. Public Sector Pension Investment Board lifted its position in AvalonBay Communities by 25.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 24,776 shares of the real estate investment trust’s stock worth $5,581,000 after acquiring an additional 5,042 shares during the period. Fiduciary Trust Co lifted its position in AvalonBay Communities by 59.5% during the 3rd quarter. Fiduciary Trust Co now owns 2,611 shares of the real estate investment trust’s stock worth $588,000 after acquiring an additional 974 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in AvalonBay Communities by 3.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 92,786 shares of the real estate investment trust’s stock worth $20,900,000 after acquiring an additional 3,138 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Ratings Changes

AVB has been the topic of several recent analyst reports. UBS Group increased their price target on AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. BNP Paribas initiated coverage on AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price target on the stock. Scotiabank increased their price target on AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft increased their price target on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. raised their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $227.06.

AvalonBay Communities Company Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.