Today, the EVP of AvalonBay (AVB), William M. McLaughlin, bought shares of AVB for $2.95M.
Following this transaction William M. McLaughlin’s holding in the company was increased by 58.63% to a total of $10.23 million. In addition to William M. McLaughlin, 5 other AVB executives reported Buy trades in the last month.
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Based on AvalonBay’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $575 million and quarterly net profit of $192 million. In comparison, last year the company earned revenue of $545 million and had a net profit of $238 million. AVB’s market cap is $25.77B and the company has a P/E ratio of 31.18. Currently, AvalonBay has an average volume of 177K.
Four different firms, including Argus Research and BMO Capital, currently also have a Buy rating on the stock. Based on 8 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $190.71, reflecting a 2.6% upside.
In the last 30 days, insiders have sold $5.78M worth of AVB shares and purchased $2.95M worth of AVB shares. The insider sentiment on AvalonBay has been negative according to 56 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.
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AvalonBay Communities, Inc. is a real estate investment trust, which engages in the development, redevelopment, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.