Brown Advisory Inc. Grows Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Brown Advisory Inc. lifted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 12.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,596 shares of the real estate investment trust’s stock after acquiring an additional 1,773 shares during the quarter. Brown Advisory Inc.’s holdings in AvalonBay Communities were worth $3,562,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Proathlete Wealth Management LLC purchased a new stake in shares of AvalonBay Communities in the first quarter valued at approximately $29,000. Opal Wealth Advisors LLC bought a new stake in AvalonBay Communities during the 1st quarter valued at $33,000. Ancora Advisors LLC lifted its holdings in shares of AvalonBay Communities by 1,666.7% in the 4th quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after buying 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. purchased a new position in shares of AvalonBay Communities during the fourth quarter valued at $53,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of AvalonBay Communities from $251.00 to $249.00 and set an “overweight” rating for the company in a research note on Tuesday, June 17th. Mizuho lowered their price target on shares of AvalonBay Communities from $238.00 to $213.00 and set an “outperform” rating for the company in a research report on Friday, May 23rd. BMO Capital Markets downgraded shares of AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price objective on the stock. in a research note on Friday, April 4th. Royal Bank Of Canada reduced their price objective on shares of AvalonBay Communities from $223.00 to $220.00 and set a “sector perform” rating for the company in a research note on Thursday, May 8th. Finally, Piper Sandler lowered their target price on AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $235.86.

Read Our Latest Analysis on AVB

AvalonBay Communities Stock Down 0.4%

AVB stock opened at $201.81 on Friday. The company has a market capitalization of $28.73 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 2.72 and a beta of 0.85. AvalonBay Communities, Inc. has a 12 month low of $180.40 and a 12 month high of $239.29. The firm’s fifty day simple moving average is $204.74 and its 200-day simple moving average is $210.24. 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 (NYSE:AVBGet Free Report) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (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 net margin of 38.86% and a return on equity of 9.65%. During the same period in the previous year, the firm posted $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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.47%. AvalonBay Communities’s payout ratio is 87.17%.

Insider Activity

In related news, CFO Kevin P. O’shea sold 6,000 shares of AvalonBay Communities stock in a transaction that occurred 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 directly owned 22,782 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edward M. Schulman sold 5,945 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 17,617 shares in the company, valued at approximately $3,623,288.39. This represents a 25.23% decrease in their position. The disclosure for this sale can be found here. 0.45% of the stock is owned by company insiders.

About AvalonBay Communities

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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