Here is the rundown on market activity for AvalonBay Communities, Inc. Com (NYSE:AVB). William M. Mclaughlin, EVP disclosed the sale of 5,112 shares of (AVB). The shares were purchased at an average price of $193.88. Mclaughlin now owns $9,100,971 of the stock per the Form 4 SEC filing. Edward M. Schulman, EVP-General Counsel let go of $338,370 worth of shares at an average price of $191.82 on May 15th. The EVP-General Counsel now owns $3,838,320 of the stock per an SEC filing yesterday.
Keri A. Shea, SVP-Finance and Treasurer reported the sale of 1,000 shares of AVB stock. The shares were sold on May 11th for an average price of $192.36. The SVP-Finance and Treasurer now owns $1,202,442 of the stock according to the SEC filing.
AvalonBay Communities, Inc., launched on March 13, 1995, is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California. The Business’s segments include Established Communities, Other Stabilized Communities and Development/Redevelopment Communities. Established Communities are operating communities that were owned and had stabilized occupancy and operating expenses. Other Stabilized Communities are all other operating communities that have stabilized occupancy and operating expenses, but that were not owned or had not achieved stabilization, as well as communities that are planned for disposition. Development/Redevelopment Communities consist of communities that are under construction, communities where substantial redevelopment is in progress and communities under lease-up. As of January 31, 2017, the Company owned or held a direct or indirect ownership interest in 259 operating apartment communities containing 75,038 apartment homes in 10 states and the District of Columbia; 27 communities under development, and rights to develop an additional 25 communities. The Company operates its apartment communities under three core brands: Avalon, AVA and Eaves by Avalon..
These firms have also modified their investment in AVB. As of the end of the quarter Proficio Capital Partners LLC had sold 23 shares trimming its holdings by 62.2%. The value of the investment in AvalonBay Communities, Inc. Com went from $7,000 to $3,000 decreasing 57.1% quarter over quarter. As of quarter end Fny Partners Fund Lp had disposed of a total of 100 shares trimming its position 80.0%. The value of the total investment in AvalonBay Communities, Inc. Com decreased from $22,000 to $4,000 a change of 81.8% quarter to quarter.
Brookfield Asset Management Inc. cut its ownership by shedding 9,460 shares a decrease of 1.1% in the quarter. Brookfield Asset Management Inc. now controls 855,457 shares with a value of $157,062,000. The total value of its holdings increased 2.5%. As of the end of the quarter Morgan Stanley had disposed of 1,258 shares trimming its stake by 98.2%. The value of the investment in AVB went from $227,000 to $4,000 a change of $223,000 since the last quarter.
On May 17 the company was rated “Hold” according to a Deutsche Bank report which is down from the previous “Buy” rating. On November 28 the stock rating was upgraded to “Buy” from “” in a report from Evercore ISI Group.
On November 23, 2016 the stock rating was changed to a “Neutral” in a report from Bank of America a cut from the previous “” rating. On September 6 the company was upgraded from “” to “Buy” in an announcement from Sandler O'Neill.
Equity analyst BTIG Research initiated coverage giving it an initial rating of “Buy” and projecting a price target of $208.00. On July 15, 2016 the stock rating was set at “Hold” by KeyBanc which was a cut from the previous “Buy” rating.
The company is so far trading down by -1.18% since yesterday’s close of $194.99. Additionally the company declared a dividend to be paid on Monday the 17th of July 2017. The dividend will be $1.420 per share for the quarter or $5.68 on an annualized basis. This dividend amount will represent a yeild of $2.92. The ex-dividend date is Wednesday the 29th of March 2017.
The stock last traded at $192.68 a tad higher than the 50 day moving average of $191.65 and just a bit higher than the 200 day moving average of $181.18. The 50 day moving average was up $1.21 and the 200 day average moved up $11.68.
AvalonBay Communities, Inc. Com currently has a P/E ratio of 25.70 and the market cap is 26.50B. As of the latest earnings report the EPS was $7.51 and is projected to be $5.19 for the current year with 137,409,000 shares now outstanding. Next quarter’s EPS is forecasted to be $1.17 and the next full year EPS is projected to be $4.78.