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

Vinva Investment Management Ltd increased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 76.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,969 shares of the real estate investment trust’s stock after purchasing an additional 4,318 shares during the quarter. Vinva Investment Management Ltd’s holdings in AvalonBay Communities were worth $2,245,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. &PARTNERS bought a new stake in shares of AvalonBay Communities in the 2nd quarter valued at about $1,538,000. Swedbank AB bought a new stake in shares of AvalonBay Communities in the 1st quarter valued at about $4,532,000. American Assets Capital Advisers LLC bought a new stake in shares of AvalonBay Communities in the 3rd quarter valued at about $1,014,000. Diversified Trust Co bought a new stake in shares of AvalonBay Communities in the 2nd quarter valued at about $1,139,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of AvalonBay Communities by 10.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 100,334 shares of the real estate investment trust’s stock valued at $18,338,000 after purchasing an additional 9,125 shares during the period. 92.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Piper Sandler upped their target price 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. JPMorgan Chase & Co. upped their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft upped 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. Evercore ISI upped their price target on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, 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. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $226.88.

AvalonBay Communities Stock Performance

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

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

AvalonBay Communities Announces Dividend

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

Insider Activity at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 23,697 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total value of $5,532,538.59. Following the completion of the transaction, the director now owns 87,239 shares of the company’s stock, valued at $20,367,689.33. This represents a 21.36 % decrease in their position. The sale 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.

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.