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

Vinva Investment Management Ltd grew its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 76.4% in the 3rd quarter, according to its most recent disclosure with the SEC. 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 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of AvalonBay Communities by 678.9% during 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 valued at $386,315,000 after acquiring an additional 1,494,872 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of 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 valued at $5,581,000 after acquiring an additional 5,042 shares during the last quarter. Fiduciary Trust Co raised its stake in shares of 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 valued at $588,000 after acquiring an additional 974 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised 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 during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new position in AvalonBay Communities during the third quarter worth $26,000. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Up 1.0 %

Shares of NYSE AVB opened at $237.81 on Friday. The stock has a market capitalization of $33.83 billion, a P/E ratio of 32.53, a P/E/G ratio of 3.40 and a beta of 0.97. The company has a 50-day moving average price of $226.74 and a 200-day moving average price of $214.87. AvalonBay Communities, Inc. has a 1 year low of $169.37 and a 1 year high of $239.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data 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). The business had revenue of $734.31 million for the quarter, compared to analyst estimates of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same quarter in the prior year, the business earned $2.66 earnings per share. On average, equities research analysts forecast that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio is currently 93.02%.

Insider Activity at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 23,697 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the transaction, the director now directly owns 87,239 shares of the company’s stock, valued at $20,367,689.33. This trade represents a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Piper Sandler lifted their target price 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. JPMorgan Chase & Co. lifted their target price on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Evercore ISI lifted their target price on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, Truist Financial lifted their target price on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $226.88.

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.