Golden State Wealth Management LLC Acquires 1,234 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Golden State Wealth Management LLC raised its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 5,609.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,256 shares of the real estate investment trust’s stock after acquiring an additional 1,234 shares during the period. Golden State Wealth Management LLC’s holdings in AvalonBay Communities were worth $270,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Baker Tilly Wealth Management LLC grew its position in AvalonBay Communities by 1.8% during the first quarter. Baker Tilly Wealth Management LLC now owns 3,247 shares of the real estate investment trust’s stock valued at $697,000 after acquiring an additional 58 shares during the last quarter. Golden State Equity Partners grew its position in AvalonBay Communities by 3.7% during the first quarter. Golden State Equity Partners now owns 1,661 shares of the real estate investment trust’s stock valued at $356,000 after acquiring an additional 60 shares during the last quarter. Signaturefd LLC grew its position in AvalonBay Communities by 4.0% during the fourth quarter. Signaturefd LLC now owns 1,616 shares of the real estate investment trust’s stock valued at $356,000 after acquiring an additional 62 shares during the last quarter. Private Advisor Group LLC grew its position in AvalonBay Communities by 2.6% during the fourth quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust’s stock valued at $553,000 after acquiring an additional 63 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in AvalonBay Communities by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,179 shares of the real estate investment trust’s stock valued at $2,679,000 after acquiring an additional 69 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $204.36 on Friday. The stock has a fifty day moving average of $205.71 and a 200 day moving average of $211.80. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29. The firm has a market capitalization of $29.09 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 2.78 and a beta of 0.86. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.70.

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

AvalonBay Communities Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have commented on AVB shares. JPMorgan Chase & Co. reduced their price target on shares of AvalonBay Communities from $251.00 to $249.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 17th. BMO Capital Markets cut shares of AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 target price on the stock. in a report on Friday, April 4th. Scotiabank cut their target price on shares of AvalonBay Communities from $251.00 to $236.00 and set a “sector perform” rating on the stock in a report on Friday, June 13th. Piper Sandler cut their target price on shares of AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Finally, Mizuho cut their target price on shares of AvalonBay Communities from $238.00 to $213.00 and set an “outperform” rating on the stock in a report on Friday, May 23rd. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $235.86.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, CFO Kevin P. O’shea sold 6,000 shares of the firm’s 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 completion of the transaction, the chief financial officer now owns 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction, the executive vice president now directly owns 17,617 shares of the company’s stock, valued at $3,623,288.39. This represents a 25.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

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.