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 AvalonBay Communities stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $233.78, for a total value of $528,576.58. Following the sale, the director now directly owns 111,436 shares of the company’s stock, valued at approximately $26,051,508.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

AvalonBay Communities Trading Up 1.3 %

AVB stock 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. AvalonBay Communities, Inc. has a 12-month low of $166.60 and a 12-month high of $236.26. The stock has a market cap of $33.15 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 3.36 and a beta of 0.97. The business’s 50-day moving average is $226.11 and its 200 day 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 (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.10). The firm 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 quarter in the previous year, the firm posted $2.66 earnings per share. On average, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.04 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s dividend payout ratio is currently 93.02%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AVB. RPg Family Wealth Advisory LLC acquired a new position in shares of AvalonBay Communities during the 3rd quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new position in AvalonBay Communities in the second quarter valued at approximately $32,000. Versant Capital Management Inc lifted its holdings in AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 169 shares during the last quarter. BROOKFIELD Corp ON acquired a new position in AvalonBay Communities in the first quarter valued at approximately $39,000. Finally, Brooklyn Investment Group acquired a new position in AvalonBay Communities in the third quarter valued at approximately $39,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Truist Financial lifted their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. BNP Paribas assumed coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. UBS Group lifted their price objective on AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Scotiabank lifted their price objective on AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $227.06.

About AvalonBay Communities

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.