Stock Traders Buy Large Volume of AvalonBay Communities Call Options (NYSE:AVB)

AvalonBay Communities, Inc. (NYSE:AVB) was the target of unusually large options trading on Tuesday. Stock investors acquired 1,182 call options on the stock. This represents an increase of 1,718% compared to the typical volume of 65 call options.

In other news, insider Leo S. Horey III sold 2,000 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $181.89, for a total value of $363,780.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Sean J. Breslin sold 1,500 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $182.65, for a total value of $273,975.00. The disclosure for this sale can be found here. Insiders sold a total of 30,660 shares of company stock valued at $5,628,669 over the last quarter. Company insiders own 0.46% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Amica Retiree Medical Trust purchased a new position in AvalonBay Communities during the third quarter worth approximately $132,000. WFG Advisors LP boosted its position in AvalonBay Communities by 24.9% during the second quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 167 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in AvalonBay Communities during the second quarter worth approximately $226,000. Dynamic Technology Lab Private Ltd purchased a new position in AvalonBay Communities during the third quarter worth approximately $227,000. Finally, Lincoln National Corp purchased a new position in shares of AvalonBay Communities in the third quarter valued at approximately $239,000. Institutional investors own 94.84% of the company’s stock.

AVB has been the subject of several recent research reports. Robert W. Baird reissued a “buy” rating and issued a $187.00 price target on shares of AvalonBay Communities in a research report on Tuesday. UBS Group raised AvalonBay Communities from a “neutral” rating to a “buy” rating and upped their target price for the company from $190.00 to $206.00 in a research report on Thursday, November 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $209.00 target price on shares of AvalonBay Communities in a research report on Wednesday, October 4th. Mizuho reaffirmed a “buy” rating and set a $220.00 target price on shares of AvalonBay Communities in a research report on Monday, November 6th. Finally, Zacks Investment Research raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $200.40.

Shares of AvalonBay Communities (AVB) traded down $1.54 on Friday, hitting $168.23. The stock had a trading volume of 494,377 shares, compared to its average volume of 540,638. AvalonBay Communities has a 1 year low of $167.51 and a 1 year high of $199.52. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $23,443.18, a P/E ratio of 26.29, a price-to-earnings-growth ratio of 2.52 and a beta of 0.35.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.45). The business had revenue of $550.50 million for the quarter, compared to analysts’ expectations of $539.69 million. AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.11 EPS. equities research analysts expect that AvalonBay Communities will post 8.62 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $5.68 dividend on an annualized basis and a yield of 3.38%. AvalonBay Communities’s dividend payout ratio is currently 88.75%.

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About AvalonBay Communities

AvalonBay Communities, Inc 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.

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