US Bancorp DE Sells 351 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

US Bancorp DE cut its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,443 shares of the real estate investment trust’s stock after selling 351 shares during the period. US Bancorp DE’s holdings in AvalonBay Communities were worth $4,173,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AVB. Landscape Capital Management L.L.C. bought a new stake in AvalonBay Communities in the 4th quarter valued at $441,000. Dynamic Technology Lab Private Ltd boosted its holdings in AvalonBay Communities by 121.8% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 2,125 shares of the real estate investment trust’s stock valued at $467,000 after purchasing an additional 1,167 shares during the period. Quadrant Capital Group LLC boosted its holdings in AvalonBay Communities by 8.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,111 shares of the real estate investment trust’s stock valued at $244,000 after purchasing an additional 83 shares during the period. Invesco Ltd. boosted its holdings in AvalonBay Communities by 13.4% in the 4th quarter. Invesco Ltd. now owns 1,449,566 shares of the real estate investment trust’s stock valued at $318,861,000 after purchasing an additional 170,952 shares during the period. Finally, APG Asset Management N.V. boosted its holdings in AvalonBay Communities by 226.8% in the 4th quarter. APG Asset Management N.V. now owns 123,206 shares of the real estate investment trust’s stock valued at $26,172,000 after purchasing an additional 85,510 shares during the period. 92.61% of the stock is owned by institutional investors.

Insider Activity at AvalonBay Communities

In other news, CFO Kevin P. O’shea sold 6,000 shares of AvalonBay Communities stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $207.57, for a total transaction of $1,245,420.00. Following the completion of the sale, the chief financial officer owned 22,782 shares in the company, valued at $4,728,859.74. The trade was a 20.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward M. Schulman sold 5,945 shares of AvalonBay Communities stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the sale, the executive vice president owned 17,617 shares of the company’s stock, valued at approximately $3,623,288.39. This represents a 25.23% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

AvalonBay Communities Trading Up 2.1%

Shares of AVB stock opened at $186.49 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $26.55 billion, a P/E ratio of 22.97, a P/E/G ratio of 2.46 and a beta of 0.86. AvalonBay Communities, Inc. has a 12-month low of $180.40 and a 12-month high of $239.29. The firm has a 50-day moving average price of $202.30 and a 200 day moving average price of $207.96.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.02. The firm had revenue of $689.90 million during the quarter, compared to analysts’ expectations of $759.08 million. AvalonBay Communities had a net margin of 38.91% and a return on equity of 9.70%. During the same quarter last year, the company posted $2.77 EPS. Research analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $1.75 per share. The ex-dividend date was Monday, June 30th. This represents a $7.00 annualized dividend and a dividend yield of 3.8%. AvalonBay Communities’s payout ratio is currently 86.21%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AVB. Piper Sandler reaffirmed a “neutral” rating and set a $200.00 price objective (down from $255.00) on shares of AvalonBay Communities in a report on Monday. Morgan Stanley raised their price objective on shares of AvalonBay Communities from $226.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, May 15th. Mizuho reduced their price objective on shares of AvalonBay Communities from $238.00 to $213.00 and set an “outperform” rating for the company in a report on Friday, May 23rd. Barclays raised their price objective on shares of AvalonBay Communities from $240.00 to $241.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Finally, Scotiabank reduced their price objective on shares of AvalonBay Communities from $251.00 to $236.00 and set a “sector perform” rating for the company in a report on Friday, June 13th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, AvalonBay Communities presently has an average rating of “Hold” and a consensus target price of $228.79.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.