Matthew H. Birenbaum Sells 5,000 Shares of AvalonBay Communities, Inc. (NYSE:AVB) Stock

AvalonBay Communities, Inc. (NYSE:AVB) CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the completion of the sale, the executive now owns 65,967 shares in the company, valued at $13,780,506.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

AvalonBay Communities Trading Down 0.6 %

NYSE:AVB traded down $1.34 during midday trading on Wednesday, hitting $207.82. The stock had a trading volume of 846,977 shares, compared to its average volume of 729,445. AvalonBay Communities, Inc. has a one year low of $160.45 and a one year high of $218.79. The company has a market capitalization of $29.55 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 3.09 and a beta of 0.96. The stock has a 50-day moving average of $202.87 and a 200 day moving average of $190.77. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.71.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The firm had revenue of $726.04 million during the quarter, compared to the consensus estimate of $718.49 million. During the same period last year, the company earned $2.66 EPS. As a group, sell-side analysts forecast that AvalonBay Communities, Inc. will post 10.97 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $1.70 per share. The ex-dividend date was Friday, June 28th. This represents a $6.80 annualized dividend and a yield of 3.27%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

Institutional Trading of AvalonBay Communities

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Opal Wealth Advisors LLC bought a new stake in AvalonBay Communities during the 2nd quarter valued at $32,000. Byrne Asset Management LLC boosted its position in AvalonBay Communities by 270.0% during the 1st quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 135 shares in the last quarter. Versant Capital Management Inc boosted its position in AvalonBay Communities by 1,877.8% during the 2nd 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 in the last quarter. BROOKFIELD Corp ON purchased a new stake in shares of AvalonBay Communities during the 1st quarter valued at $39,000. Finally, Pinnacle Bancorp Inc. lifted its holdings in shares of AvalonBay Communities by 50.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

AVB has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Truist Financial boosted their target price on AvalonBay Communities from $207.00 to $213.00 and gave the stock a “hold” rating in a research report on Monday, June 24th. Argus upped their price objective on AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Royal Bank of Canada upped their price objective on AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Finally, Barclays upped their price objective on AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, AvalonBay Communities currently has an average rating of “Hold” and a consensus target price of $210.59.

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.