AvalonBay Communities, Inc. (NYSE:AVB) Sees Significant Growth in Short Interest

AvalonBay Communities, Inc. (NYSE:AVB) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,160,000 shares, an increase of 10.5% from the December 15th total of 2,860,000 shares. Based on an average daily volume of 616,300 shares, the short-interest ratio is currently 5.1 days.

AvalonBay Communities Trading Up 0.1 %

Shares of NYSE:AVB traded up $0.31 during mid-day trading on Monday, reaching $218.21. 553,916 shares of the company were exchanged, compared to its average volume of 517,710. AvalonBay Communities has a 1 year low of $169.37 and a 1 year high of $239.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The firm’s 50-day simple moving average is $224.47 and its 200 day simple moving average is $220.81. The firm has a market cap of $31.04 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 2.94 and a beta of 0.99.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The firm had revenue of $734.31 million during the quarter, compared to analyst estimates of $731.67 million. During the same period in the previous year, the firm posted $2.66 earnings per share. Equities research analysts forecast that AvalonBay Communities will post 11.04 EPS for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.80 annualized dividend and a dividend yield of 3.12%. AvalonBay Communities’s dividend payout ratio is presently 93.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AVB shares. Scotiabank lowered their target price on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Royal Bank of Canada cut their price objective on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Barclays began coverage on AvalonBay Communities in a research note on Tuesday, December 17th. They set an “equal weight” rating and a $243.00 price objective on the stock. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. Finally, Mizuho raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $239.00 to $242.00 in a research report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $234.53.

Insider Buying and Selling

In other news, Director Timothy J. Naughton sold 23,697 shares of AvalonBay Communities stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total value of $5,532,538.59. Following the sale, the director now directly owns 87,239 shares of the company’s stock, valued at $20,367,689.33. The trade was a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Segment Wealth Management LLC raised its stake in shares of AvalonBay Communities by 4.6% in the third quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 45 shares in the last quarter. Patrick M Sweeney & Associates Inc. raised its position in AvalonBay Communities by 4.1% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock valued at $286,000 after purchasing an additional 50 shares in the last quarter. Tectonic Advisors LLC boosted its stake in shares of AvalonBay Communities by 2.7% in the 3rd quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock valued at $436,000 after buying an additional 50 shares during the period. OneDigital Investment Advisors LLC boosted its stake in shares of AvalonBay Communities by 4.6% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust’s stock valued at $280,000 after buying an additional 55 shares during the period. Finally, Wedmont Private Capital grew its position in shares of AvalonBay Communities by 5.3% during the fourth quarter. Wedmont Private Capital now owns 1,094 shares of the real estate investment trust’s stock worth $231,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

About AvalonBay Communities

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.