Leo S. Horey III Sells 2,000 Shares of AvalonBay Communities Inc (AVB) Stock
AvalonBay Communities Inc (NYSE:AVB) insider Leo S. Horey III sold 2,000 shares of the business’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $186.88, for a total value of $373,760.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.
AVB traded up $1.75 during mid-day trading on Wednesday, hitting $188.28. 11,064 shares of the stock were exchanged, compared to its average volume of 603,811. AvalonBay Communities Inc has a 1-year low of $152.65 and a 1-year high of $188.59. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.72. The firm has a market cap of $25.95 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 2.85 and a beta of 0.38.
AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, October 29th. The real estate investment trust reported $1.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.87). AvalonBay Communities had a return on equity of 7.96% and a net margin of 36.54%. The firm had revenue of $575.98 million for the quarter, compared to analyst estimates of $573.87 million. During the same period in the previous year, the company posted $1.72 EPS. AvalonBay Communities’s revenue was up 4.7% on a year-over-year basis. On average, research analysts forecast that AvalonBay Communities Inc will post 8.98 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of AVB. Xact Kapitalforvaltning AB lifted its stake in AvalonBay Communities by 7.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 32,947 shares of the real estate investment trust’s stock worth $5,663,000 after acquiring an additional 2,183 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in AvalonBay Communities during the 2nd quarter worth about $367,000. Whittier Trust Co. lifted its stake in AvalonBay Communities by 86.2% during the 2nd quarter. Whittier Trust Co. now owns 1,873 shares of the real estate investment trust’s stock worth $266,000 after acquiring an additional 867 shares in the last quarter. Sumitomo Life Insurance Co. lifted its stake in AvalonBay Communities by 4.5% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 8,605 shares of the real estate investment trust’s stock worth $1,479,000 after acquiring an additional 369 shares in the last quarter. Finally, Baldwin Brothers Inc. MA lifted its stake in AvalonBay Communities by 1.2% during the 2nd quarter. Baldwin Brothers Inc. MA now owns 37,450 shares of the real estate investment trust’s stock worth $6,437,000 after acquiring an additional 450 shares in the last quarter. 93.55% of the stock is currently owned by hedge funds and other institutional investors.
AVB has been the topic of several recent analyst reports. Argus upped their price target on AvalonBay Communities from $196.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday. ValuEngine raised AvalonBay Communities from a “hold” rating to a “buy” rating in a research note on Wednesday. Scotiabank set a $183.00 price target on AvalonBay Communities and gave the company a “hold” rating in a research note on Monday, November 12th. Deutsche Bank upped their price target on AvalonBay Communities from $186.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, September 5th. Finally, Evercore ISI set a $194.00 price target on AvalonBay Communities and gave the company a “buy” rating in a research note on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $192.41.
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About AvalonBay Communities
As of June 30, 2018, the Company owned or held a direct or indirect ownership interest in 287 apartment communities containing 84,043 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 16 communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.
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