AvalonBay Communities Inc (NYSE:AVB) CEO Timothy J. Naughton sold 17,210 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $192.05, for a total transaction of $3,305,180.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Timothy J. Naughton also recently made the following trade(s):
- On Tuesday, May 2nd, Timothy J. Naughton sold 10,000 shares of AvalonBay Communities stock. The shares were sold at an average price of $191.14, for a total transaction of $1,911,400.00.
AvalonBay Communities Inc (NYSE:AVB) traded down 0.32% during trading on Friday, reaching $191.25. 1,166,910 shares of the company’s stock traded hands. AvalonBay Communities Inc has a 12 month low of $158.32 and a 12 month high of $194.11. The company has a market capitalization of $26.28 billion, a price-to-earnings ratio of 25.48 and a beta of 0.33. The firm’s 50 day moving average is $188.65 and its 200-day moving average is $178.37.
AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, April 26th. The real estate investment trust reported $2.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.11 by $0.02. AvalonBay Communities had a net margin of 50.56% and a return on equity of 10.36%. The firm had revenue of $522.33 million during the quarter, compared to analyst estimates of $520.56 million. During the same quarter in the prior year, the firm posted $1.97 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts expect that AvalonBay Communities Inc will post $5.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $5.68 annualized dividend and a yield of 2.96%. AvalonBay Communities’s dividend payout ratio (DPR) is 71.81%.
AVB has been the topic of a number of research analyst reports. Bank of America Corp upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $202.00 price objective on the stock in a research note on Wednesday, March 8th. Evercore ISI downgraded shares of AvalonBay Communities to a “buy” rating in a research note on Friday, March 3rd. Royal Bank of Canada reiterated a “buy” rating and set a $191.00 price objective on shares of AvalonBay Communities in a research note on Monday, February 13th. Mizuho reiterated a “buy” rating and set a $190.00 price objective on shares of AvalonBay Communities in a research note on Tuesday, February 7th. Finally, BTIG Research raised their price target on shares of AvalonBay Communities from $191.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $192.00.
A number of hedge funds and other institutional investors have recently modified their holdings of AVB. Muzinich & Co. Inc. increased its position in shares of AvalonBay Communities by 104.0% in the first quarter. Muzinich & Co. Inc. now owns 665 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 339 shares during the period. Whittier Trust Co. increased its position in shares of AvalonBay Communities by 2.8% in the first quarter. Whittier Trust Co. now owns 1,144 shares of the real estate investment trust’s stock valued at $210,000 after buying an additional 31 shares during the period. Edgestream Partners L.P. bought a new position in shares of AvalonBay Communities during the first quarter valued at about $216,000. Miles Capital Inc. bought a new position in shares of AvalonBay Communities during the first quarter valued at about $250,000. Finally, Wetherby Asset Management Inc. bought a new position in shares of AvalonBay Communities during the fourth quarter valued at about $257,000. Institutional investors and hedge funds own 97.05% of the company’s stock.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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