Assenagon Asset Management S.A. Sells 58 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Assenagon Asset Management S.A. decreased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,148 shares of the real estate investment trust’s stock after selling 58 shares during the quarter. Assenagon Asset Management S.A.’s holdings in AvalonBay Communities were worth $890,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Integrated Advisors Network LLC purchased a new position in AvalonBay Communities in the first quarter valued at about $2,279,000. SG Americas Securities LLC grew its stake in AvalonBay Communities by 3,071.6% in the first quarter. SG Americas Securities LLC now owns 24,199 shares of the real estate investment trust’s stock valued at $5,194,000 after purchasing an additional 23,436 shares during the last quarter. Pallas Capital Advisors LLC grew its stake in AvalonBay Communities by 5.5% in the first quarter. Pallas Capital Advisors LLC now owns 17,829 shares of the real estate investment trust’s stock valued at $3,826,000 after purchasing an additional 933 shares during the last quarter. Farther Finance Advisors LLC grew its stake in AvalonBay Communities by 14.2% in the first quarter. Farther Finance Advisors LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $246,000 after purchasing an additional 143 shares during the last quarter. Finally, Vert Asset Management LLC grew its stake in AvalonBay Communities by 5.0% in the first quarter. Vert Asset Management LLC now owns 66,660 shares of the real estate investment trust’s stock valued at $14,307,000 after purchasing an additional 3,199 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Trading Up 0.1%

AvalonBay Communities stock opened at $206.41 on Thursday. 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, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29. The company has a market capitalization of $29.39 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 2.81 and a beta of 0.86. The stock has a 50-day moving average price of $204.82 and a 200 day moving average price of $212.86.

AvalonBay Communities (NYSE:AVB) last released its 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 firm had revenue of $693.43 million during the quarter, compared to the consensus estimate of $744.61 million. During the same quarter in the previous year, the company posted $2.70 earnings per share. Sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Monday, June 30th. AvalonBay Communities’s dividend payout ratio (DPR) is 87.17%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Truist Financial lifted their target price on AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a research note on Monday, March 10th. Mizuho cut their target price on AvalonBay Communities from $238.00 to $213.00 and set an “outperform” rating on the stock in a research note on Friday, May 23rd. Wall Street Zen downgraded AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Saturday, May 31st. BMO Capital Markets downgraded AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price target for the company. in a report on Friday, April 4th. Finally, Morgan Stanley raised their price target on AvalonBay Communities from $226.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $235.86.

Insider Buying and Selling

In related news, EVP Edward M. Schulman sold 5,945 shares of AvalonBay Communities stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the completion of the transaction, the executive vice president now directly owns 17,617 shares in the company, valued at approximately $3,623,288.39. This trade represents a 25.23% 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, CFO Kevin P. O’shea sold 6,000 shares of AvalonBay Communities stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $207.57, for a total value of $1,245,420.00. Following the transaction, the chief financial officer now owns 22,782 shares of the company’s stock, valued at approximately $4,728,859.74. This represents a 20.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.