AvalonBay Communities Inc (NYSE:AVB) CEO Sells $5,689,022.40 in Stock

AvalonBay Communities Inc (NYSE:AVB) CEO Timothy J. Naughton sold 26,634 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $213.60, for a total transaction of $5,689,022.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NYSE:AVB traded up $0.86 during midday trading on Tuesday, reaching $216.13. 8,320 shares of the stock traded hands, compared to its average volume of 735,745. AvalonBay Communities Inc has a 12-month low of $167.01 and a 12-month high of $222.87. The business has a 50-day moving average of $216.50 and a two-hundred day moving average of $209.31. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $29.96 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 3.73 and a beta of 0.47.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $2.00 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.80. AvalonBay Communities had a net margin of 45.56% and a return on equity of 9.35%. The company had revenue of $587.61 million during the quarter, compared to analysts’ expectations of $585.86 million. During the same quarter in the prior year, the company posted $1.39 earnings per share. Research analysts anticipate that AvalonBay Communities Inc will post 9.3 earnings per share for the current year.

Several equities research analysts have recently weighed in on the stock. Evercore ISI raised shares of AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $225.00 price target for the company in a research report on Tuesday. Goldman Sachs Group assumed coverage on shares of AvalonBay Communities in a research report on Friday, November 8th. They issued a “buy” rating and a $244.00 price target for the company. Morgan Stanley upped their price target on shares of AvalonBay Communities from $217.00 to $229.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. BTIG Research upped their price target on shares of AvalonBay Communities to $235.00 and gave the stock a “positive” rating in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of AvalonBay Communities from $214.00 to $224.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. AvalonBay Communities currently has a consensus rating of “Buy” and an average price target of $222.43.

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A number of large investors have recently bought and sold shares of AVB. Vanguard Group Inc. increased its stake in AvalonBay Communities by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 20,446,914 shares of the real estate investment trust’s stock valued at $4,154,404,000 after purchasing an additional 195,316 shares in the last quarter. BlackRock Inc. grew its position in AvalonBay Communities by 0.5% during the second quarter. BlackRock Inc. now owns 16,102,048 shares of the real estate investment trust’s stock valued at $3,271,615,000 after buying an additional 82,949 shares during the period. Invesco Ltd. grew its position in AvalonBay Communities by 4.8% during the second quarter. Invesco Ltd. now owns 3,234,162 shares of the real estate investment trust’s stock valued at $657,116,000 after buying an additional 146,838 shares during the period. Northern Trust Corp grew its position in AvalonBay Communities by 3.0% during the second quarter. Northern Trust Corp now owns 2,589,402 shares of the real estate investment trust’s stock valued at $526,115,000 after buying an additional 76,361 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in AvalonBay Communities by 8.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,511,273 shares of the real estate investment trust’s stock valued at $510,240,000 after buying an additional 187,752 shares during the period. 88.70% of the stock is owned by institutional investors.

About AvalonBay Communities

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine 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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Insider Buying and Selling by Quarter for AvalonBay Communities (NYSE:AVB)

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