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

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 stock was sold at an average price of $233.78, for a total transaction of $528,576.58. Following the completion of the sale, the director now directly owns 111,436 shares of the company’s stock, valued at $26,051,508.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

AvalonBay Communities Stock Up 1.3 %

AVB stock traded up $2.90 during trading on Wednesday, hitting $233.11. 483,556 shares of the company’s stock traded hands, compared to its average volume of 727,136. AvalonBay Communities, Inc. has a 1 year low of $166.60 and a 1 year high of $236.26. The business has a fifty day simple moving average of $226.11 and a two-hundred day simple moving average of $211.90. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $33.15 billion, a P/E ratio of 31.89, a PEG ratio of 3.36 and a beta of 0.97.

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

AvalonBay Communities Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Scotiabank upped their price target on shares of AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. Royal Bank of Canada cut their price objective on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Truist Financial boosted their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Finally, BNP Paribas assumed coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $227.06.

Institutional Trading of AvalonBay Communities

Hedge funds have recently made changes to their positions in the stock. &PARTNERS acquired a new position in AvalonBay Communities during the 2nd quarter worth approximately $1,538,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of AvalonBay Communities by 14.4% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,952 shares of the real estate investment trust’s stock worth $6,115,000 after acquiring an additional 4,138 shares during the last quarter. Swedbank AB bought a new stake in AvalonBay Communities in the first quarter worth approximately $4,532,000. Diversified Trust Co acquired a new stake in AvalonBay Communities in the second quarter valued at approximately $1,139,000. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of AvalonBay Communities by 10.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 100,334 shares of the real estate investment trust’s stock valued at $18,338,000 after buying an additional 9,125 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

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.