Vinva Investment Management Ltd Buys 4,318 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Vinva Investment Management Ltd lifted its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 76.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,969 shares of the real estate investment trust's stock after acquiring an additional 4,318 shares during the period. Vinva Investment Management Ltd's holdings in AvalonBay Communities were worth $2,245,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of AvalonBay Communities by 678.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust's stock worth $386,315,000 after acquiring an additional 1,494,872 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in AvalonBay Communities by 25.5% during the third quarter. Public Sector Pension Investment Board now owns 24,776 shares of the real estate investment trust's stock worth $5,581,000 after buying an additional 5,042 shares in the last quarter. Fiduciary Trust Co boosted its stake in AvalonBay Communities by 59.5% during the third quarter. Fiduciary Trust Co now owns 2,611 shares of the real estate investment trust's stock worth $588,000 after buying an additional 974 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in AvalonBay Communities by 3.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 92,786 shares of the real estate investment trust's stock worth $20,900,000 after buying an additional 3,138 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new stake in AvalonBay Communities during the third quarter worth $26,000. Institutional investors and hedge funds own 92.61% of the company's stock.

AvalonBay Communities Price Performance

Shares of AvalonBay Communities stock traded down $2.60 during trading on Friday, reaching $235.21. The company's stock had a trading volume of 616,784 shares, compared to its average volume of 720,194. The stock has a 50-day moving average price of $226.85 and a two-hundred day moving average price of $215.13. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. AvalonBay Communities, Inc. has a one year low of $169.37 and a one year high of $239.29. The stock has a market capitalization of $33.46 billion, a P/E ratio of 32.18, a price-to-earnings-growth ratio of 3.47 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.71 by ($0.10). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The business had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. During the same period in the prior year, the firm earned $2.66 earnings per share. As a group, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.80 annualized dividend and a yield of 2.89%. AvalonBay Communities's dividend payout ratio is currently 93.02%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. 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 price target on the stock. Royal Bank of Canada decreased their price target on shares of AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company lifted their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an "overweight" rating in a research note on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price 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. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $226.88.

Insiders Place Their Bets

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $233.78, for a total transaction of $528,576.58. Following the completion of the sale, the director now directly owns 111,436 shares of the company's stock, valued at approximately $26,051,508.08. The trade was a 1.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.42% of the company's stock.

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.