Insider Selling: AvalonBay Communities, Inc. (AVB) Insider Sells 2,000 Shares of Stock
AvalonBay Communities, Inc. (NYSE:AVB) insider Leo S. Horey III sold 2,000 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $181.89, for a total value of $363,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
AvalonBay Communities, Inc. (NYSE AVB) traded down $2.31 during midday trading on Wednesday, hitting $178.81. The company’s stock had a trading volume of 636,300 shares, compared to its average volume of 677,484. The stock has a market cap of $25,010.48, a price-to-earnings ratio of 21.33, a P/E/G ratio of 2.85 and a beta of 0.35. AvalonBay Communities, Inc. has a twelve month low of $163.58 and a twelve month high of $199.52. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.10 and a quick ratio of 0.10.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.17 by ($0.45). The company had revenue of $550.50 million for the quarter, compared to analysts’ expectations of $539.69 million. AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.11 EPS. sell-side analysts expect that AvalonBay Communities, Inc. will post 8.62 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AXA raised its stake in shares of AvalonBay Communities by 5.5% during the 3rd quarter. AXA now owns 117,895 shares of the real estate investment trust’s stock valued at $21,034,000 after buying an additional 6,096 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of AvalonBay Communities by 1.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 215,600 shares of the real estate investment trust’s stock valued at $38,467,000 after acquiring an additional 2,581 shares during the period. GSA Capital Partners LLP grew its position in shares of AvalonBay Communities by 70.4% during the 3rd quarter. GSA Capital Partners LLP now owns 10,850 shares of the real estate investment trust’s stock valued at $1,936,000 after acquiring an additional 4,482 shares during the period. IFM Investors Pty Ltd acquired a new stake in shares of AvalonBay Communities during the 3rd quarter valued at about $691,000. Finally, California Public Employees Retirement System grew its position in shares of AvalonBay Communities by 2.0% during the 3rd quarter. California Public Employees Retirement System now owns 310,326 shares of the real estate investment trust’s stock valued at $55,368,000 after acquiring an additional 6,230 shares during the period. Institutional investors and hedge funds own 94.82% of the company’s stock.
A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Evercore ISI upgraded AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 target price for the company in a research note on Monday, September 25th. KeyCorp restated a “hold” rating on shares of AvalonBay Communities in a research note on Sunday, September 24th. Stifel Nicolaus restated a “buy” rating and issued a $209.00 target price on shares of AvalonBay Communities in a research note on Friday, September 1st. Finally, BMO Capital Markets restated a “hold” rating and issued a $190.00 target price on shares of AvalonBay Communities in a research note on Monday, November 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $199.20.
About AvalonBay Communities
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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