Interchange Capital Partners LLC Takes $393,000 Position in AvalonBay Communities, Inc. (NYSE:AVB)

Interchange Capital Partners LLC bought a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,833 shares of the real estate investment trust’s stock, valued at approximately $393,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AVB. Proathlete Wealth Management LLC bought a new position in shares of AvalonBay Communities during the 1st quarter worth $29,000. Opal Wealth Advisors LLC bought a new position in shares of AvalonBay Communities during the 1st quarter worth $33,000. Ancora Advisors LLC grew its stake in shares of AvalonBay Communities by 1,666.7% during the 4th quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 150 shares during the period. Crowley Wealth Management Inc. bought a new position in shares of AvalonBay Communities during the 4th quarter worth $44,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of AvalonBay Communities during the 4th quarter worth $53,000. Institutional investors own 92.61% of the company’s stock.

Insider Buying and Selling at AvalonBay Communities

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on AVB shares. Wall Street Zen downgraded AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Sunday, June 29th. Truist Financial raised their price objective on AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a report on Monday, March 10th. Mizuho decreased their price objective on AvalonBay Communities from $238.00 to $213.00 and set an “outperform” rating on the stock in a report on Friday, May 23rd. Royal Bank Of Canada decreased their price objective on AvalonBay Communities from $223.00 to $220.00 and set a “sector perform” rating on the stock in a report on Thursday, May 8th. Finally, Barclays raised their price objective on AvalonBay Communities from $227.00 to $240.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and an average price target of $235.86.

AvalonBay Communities Price Performance

Shares of AvalonBay Communities stock opened at $203.91 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.70. The company has a market cap of $29.03 billion, a PE ratio of 25.39, a P/E/G ratio of 2.73 and a beta of 0.85. The business has a 50 day moving average of $205.48 and a 200 day moving average of $210.87. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.03. The company had revenue of $693.43 million during the quarter, compared to the consensus estimate of $744.61 million. AvalonBay Communities had a return on equity of 9.65% and a net margin of 38.86%. During the same quarter in the prior year, the company earned $2.70 earnings per share. As a group, equities research analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $1.75 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $7.00 annualized dividend and a yield of 3.43%. AvalonBay Communities’s payout ratio is 87.17%.

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.