Vanderbilt University Trims Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Vanderbilt University lowered its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 34.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,374 shares of the real estate investment trust’s stock after selling 4,368 shares during the quarter. Vanderbilt University’s holdings in AvalonBay Communities were worth $1,886,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AVB. Opal Wealth Advisors LLC bought a new position in shares of AvalonBay Communities in the second quarter worth approximately $32,000. Versant Capital Management Inc grew its stake in AvalonBay Communities by 1,877.8% in the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 169 shares in the last quarter. BROOKFIELD Corp ON bought a new position in shares of AvalonBay Communities in the 1st quarter worth $39,000. Mather Group LLC. increased its holdings in shares of AvalonBay Communities by 38.6% in the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 56 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of AvalonBay Communities by 38.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AVB shares. Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Scotiabank upped their price objective on AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft increased their price objective on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. BNP Paribas began coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Eleven 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 currently has a consensus rating of “Hold” and an average price target of $225.88.

AvalonBay Communities Trading Up 0.8 %

Shares of AVB stock traded up $1.83 during mid-day trading on Monday, reaching $228.18. The stock had a trading volume of 54,650 shares, compared to its average volume of 722,550. The firm has a market capitalization of $32.44 billion, a PE ratio of 33.68, a price-to-earnings-growth ratio of 3.33 and a beta of 0.97. The stock’s 50-day moving average price is $224.90 and its two-hundred day moving average price is $208.45. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $236.26.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The business had revenue of $726.04 million for the quarter, compared to analysts’ expectations of $718.49 million. During the same quarter in the prior year, the firm earned $2.66 EPS. Equities analysts expect that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s payout ratio is 101.19%.

Insider Activity at AvalonBay Communities

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

AvalonBay Communities Company Profile

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.