AvalonBay Communities, Inc. (NYSE:AVB) Shares Purchased by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. boosted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 58.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,600 shares of the real estate investment trust’s stock after buying an additional 21,200 shares during the quarter. Adams Diversified Equity Fund Inc.’s holdings in AvalonBay Communities were worth $12,362,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Baker Tilly Wealth Management LLC lifted its holdings in AvalonBay Communities by 1.8% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 3,247 shares of the real estate investment trust’s stock worth $697,000 after buying an additional 58 shares in the last quarter. Golden State Equity Partners lifted its holdings in AvalonBay Communities by 3.7% during the 1st quarter. Golden State Equity Partners now owns 1,661 shares of the real estate investment trust’s stock worth $356,000 after buying an additional 60 shares in the last quarter. Signaturefd LLC lifted its holdings in AvalonBay Communities by 4.0% during the 4th quarter. Signaturefd LLC now owns 1,616 shares of the real estate investment trust’s stock worth $356,000 after buying an additional 62 shares in the last quarter. Private Advisor Group LLC lifted its holdings in AvalonBay Communities by 2.6% during the 4th quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust’s stock worth $553,000 after buying an additional 63 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in AvalonBay Communities by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,179 shares of the real estate investment trust’s stock worth $2,679,000 after buying an additional 69 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities 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 transaction 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 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 SEC, which is available at the SEC website. Also, 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 transaction, the chief financial officer now directly owns 22,782 shares in the company, valued at $4,728,859.74. The trade was a 20.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

AvalonBay Communities Trading Down 0.7%

NYSE AVB opened at $206.14 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.51 and a quick ratio of 0.51. The firm’s fifty day moving average price is $205.62 and its 200 day moving average price is $212.16. The company has a market capitalization of $29.35 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 2.82 and a beta of 0.86. AvalonBay Communities, Inc. has a 12 month low of $180.40 and a 12 month 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 firm had revenue of $693.43 million for 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 last year, the firm posted $2.70 EPS. On average, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Monday, June 30th. AvalonBay Communities’s dividend payout ratio (DPR) is 87.17%.

Analyst Upgrades and Downgrades

AVB has been the topic of a number of research reports. Morgan Stanley increased their target price on shares of AvalonBay Communities from $226.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, May 15th. JPMorgan Chase & Co. reduced their target price on shares of AvalonBay Communities from $251.00 to $249.00 and set an “overweight” rating on the stock in a report on Tuesday, June 17th. BMO Capital Markets lowered 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. Barclays raised their price objective on shares of AvalonBay Communities from $227.00 to $240.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. Finally, Piper Sandler reduced their price objective 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. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $235.86.

AvalonBay Communities 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.