Wealthfront Advisers LLC Sells 91 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Wealthfront Advisers LLC trimmed its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,112 shares of the real estate investment trust’s stock after selling 91 shares during the period. Wealthfront Advisers LLC’s holdings in AvalonBay Communities were worth $1,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in AVB. Norges Bank purchased a new stake in shares of AvalonBay Communities during the 4th quarter worth $1,499,050,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of AvalonBay Communities by 35.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust’s stock valued at $1,133,328,000 after buying an additional 1,336,698 shares in the last quarter. Geode Capital Management LLC grew its position in shares of AvalonBay Communities by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 3,693,457 shares of the real estate investment trust’s stock worth $810,470,000 after buying an additional 107,655 shares during the last quarter. Cohen & Steers Inc. raised its stake in shares of AvalonBay Communities by 25.7% during the 4th quarter. Cohen & Steers Inc. now owns 3,130,108 shares of the real estate investment trust’s stock worth $688,527,000 after acquiring an additional 639,402 shares in the last quarter. Finally, Northern Trust Corp lifted its position in AvalonBay Communities by 54.8% during the fourth quarter. Northern Trust Corp now owns 2,642,743 shares of the real estate investment trust’s stock valued at $581,324,000 after acquiring an additional 935,770 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

AvalonBay Communities stock opened at $202.57 on Friday. The firm has a 50 day simple moving average of $204.20 and a 200-day simple moving average of $209.64. The stock has a market cap of $28.84 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 2.72 and a beta of 0.85. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.51 and a quick ratio of 0.51. AvalonBay Communities, Inc. has a 1-year low of $180.40 and a 1-year high of $239.29.

AvalonBay Communities (NYSE:AVB) last posted 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 for the quarter, compared to analysts’ expectations of $744.61 million. AvalonBay Communities had a net margin of 38.86% and a return on equity of 9.65%. During the same quarter in the prior year, the company posted $2.70 earnings per share. On average, analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $1.75 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $7.00 dividend on an annualized basis and a yield of 3.46%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 87.17%.

Insiders Place Their Bets

In other news, EVP Edward M. Schulman sold 5,945 shares of the firm’s stock in a transaction on Friday, June 13th. The shares were 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 in the company, valued at approximately $3,623,288.39. This trade represents a 25.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin P. O’shea sold 6,000 shares of AvalonBay Communities stock in a transaction on Monday, June 16th. The stock was sold at an average price of $207.57, for a total transaction of $1,245,420.00. Following the sale, the chief financial officer directly owned 22,782 shares of the company’s stock, valued at approximately $4,728,859.74. This trade represents a 20.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on AVB. Mizuho lowered their target price on shares of AvalonBay Communities from $238.00 to $213.00 and set an “outperform” rating for the company in a research note on Friday, May 23rd. Piper Sandler cut their price objective on AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. UBS Group reduced their price target on shares of AvalonBay Communities from $238.00 to $216.00 and set a “neutral” rating for the company in a research report on Tuesday. Morgan Stanley increased their price target on AvalonBay Communities from $226.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 15th. Finally, Royal Bank Of Canada dropped their price objective on shares of AvalonBay Communities from $223.00 to $220.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and an average price target of $235.07.

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.