AvalonBay CFO Sargeant Sells $9.7M - cbl

Posted June 13, 2011

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Thomas Sargeant

By Brian Wolak

ARLINGTON, Va. -- AvalonBay Communities (NYSE:AVB) CFO Thomas Sargeant has sold $9.70 million in stock.

Sargeant sold 73,121 shares at an average of $132.66 a share after acquiring 76,788 shares by exercising options at an average price of $83.48 apiece ($7.01 million).

Sargeant, who is responsible for all of the financial operations, including capital markets/finance, financial reporting and financial services of AvalonBay, previously served as group financial officer for the Northeast Group, the Mid-Atlantic Group and the Midwest Group of Trammell Crow Residential. Sargeant, a certified public accountant, is a magna cum laude graduate of the University of South Carolina where he was elected to Phi Beta Kappa and the Honors College.

AvalonBay Communities is a real estate investment trust focused on developing, redeveloping, acquiring and managing high-quality apartment communities in high barrier-to-entry markets of the United States.

As of March 31, AvalonBay owned or held an interest in 187 apartment communities containing 55,027 apartment homes in ten states and the District of Columbia, of which 11 communities were under construction and nine communities were under reconstruction.

The company recently announced that for the quarter ending June 30, it now expects EPS to be between $0.42 and $0.45 and projected FFO per share to be between $1.09 and $1.12.

SEC filing: http://tinyurl.com/3dxxpg5

Also at citybizlist, see:

Timothy Naughton to Succeed Bryce Blair as CEO of AvalonBay Communities, Inc.

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