Vanderbilt University Cuts Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Vanderbilt University lowered its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 34.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,374 shares of the real estate investment trust's stock after selling 4,368 shares during the period. Vanderbilt University's holdings in AvalonBay Communities were worth $1,886,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baker Tilly Wealth Management LLC boosted its position in shares of AvalonBay Communities by 34.4% during the third quarter. Baker Tilly Wealth Management LLC now owns 2,877 shares of the real estate investment trust's stock worth $648,000 after purchasing an additional 737 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of AvalonBay Communities by 13.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,987 shares of the real estate investment trust's stock worth $1,799,000 after purchasing an additional 975 shares during the last quarter. PFG Investments LLC grew its stake in AvalonBay Communities by 6.1% in the 3rd quarter. PFG Investments LLC now owns 1,097 shares of the real estate investment trust's stock valued at $247,000 after buying an additional 63 shares during the last quarter. Forsta AP Fonden grew its stake in AvalonBay Communities by 51.7% in the 3rd quarter. Forsta AP Fonden now owns 48,400 shares of the real estate investment trust's stock valued at $10,902,000 after buying an additional 16,500 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in AvalonBay Communities by 57.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,234 shares of the real estate investment trust's stock valued at $4,783,000 after buying an additional 7,714 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AVB. Piper Sandler boosted their price objective on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Truist Financial raised their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a "hold" rating in a research note on Tuesday, August 27th. BNP Paribas assumed coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They set an "outperform" rating and a $250.00 target price for the company. Finally, Wells Fargo & Company raised their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an "overweight" rating in a report on Monday, August 26th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, AvalonBay Communities has an average rating of "Hold" and a consensus target price of $225.88.

Insider Activity at AvalonBay Communities

In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $208.90, for a total value of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares in the company, valued at approximately $13,780,506.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities stock in a transaction on Monday, August 5th. The shares were sold at an average price of $208.90, for a total value of $1,044,500.00. Following the sale, the executive now owns 65,967 shares of the company's stock, valued at approximately $13,780,506.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the sale, the senior vice president now directly owns 4,383 shares in the company, valued at $908,026.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

AvalonBay Communities Price Performance

Shares of AVB stock traded up $2.53 during mid-day trading on Monday, hitting $228.88. The company had a trading volume of 648,717 shares, compared to its average volume of 725,480. The company has a market capitalization of $32.54 billion, a P/E ratio of 34.06, a P/E/G ratio of 3.33 and a beta of 0.97. The stock's 50 day moving average price is $225.16 and its 200-day moving average price is $208.76. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $236.26.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing analysts' consensus estimates of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The company had revenue of $726.04 million during the quarter, compared to the consensus estimate of $718.49 million. During the same quarter in the previous year, the company posted $2.66 earnings per share. Equities research analysts forecast that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Monday, September 30th. AvalonBay Communities's payout ratio is currently 101.19%.

About AvalonBay Communities

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.