Dimensional Fund Advisors LP Has $349.10 Million Stake in AvalonBay Communities, Inc. $AVB

Key Points

• Dimensional Fund Advisors LP increased its AvalonBay Communities stake by 1.4% in the first quarter, ending with 2.14 million shares valued at about $349.1 million.
• AvalonBay reported Q1 earnings of $2.33 per share, missing analyst expectations of $2.80, though revenue of $770.28 million came in slightly above estimates.
• The company recently paid a quarterly dividend of $1.78 per share, equal to an annualized yield of 3.7%, while Wall Street’s overall view remains Hold with an average price target of $196.80.

Dimensional Fund Advisors LP lifted its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 1.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,137,158 shares of the real estate investment trust's stock after purchasing an additional 28,741 shares during the quarter. Dimensional Fund Advisors LP owned 1.54% of AvalonBay Communities worth $349,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC increased its stake in AvalonBay Communities by 13.4% in the 1st quarter. Parallel Advisors LLC now owns 1,167 shares of the real estate investment trust's stock valued at $191,000 after buying an additional 138 shares during the period. SEB Asset Management AB acquired a new stake in shares of AvalonBay Communities during the 1st quarter valued at $9,389,000. Swiss National Bank boosted its stake in shares of AvalonBay Communities by 6.5% during the 1st quarter. Swiss National Bank now owns 415,521 shares of the real estate investment trust's stock valued at $67,875,000 after buying an additional 25,400 shares during the period. Clearstead Trust LLC grew its holdings in shares of AvalonBay Communities by 56.0% during the 1st quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 56 shares in the last quarter. Finally, B&I Capital AG purchased a new position in shares of AvalonBay Communities during the 1st quarter valued at $11,194,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

Shares of AVB opened at $190.71 on Wednesday. The firm has a market cap of $27.09 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77. The company's fifty day moving average is $187.09 and its 200-day moving average is $179.23. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.80. AvalonBay Communities, Inc. has a 12 month low of $160.10 and a 12 month high of $204.68.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.47). The business had revenue of $770.28 million during the quarter, compared to analyst estimates of $768.80 million. AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. During the same period in the previous year, the firm posted $2.83 EPS. Equities analysts expect that AvalonBay Communities, Inc. will post 11.28 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. AvalonBay Communities's payout ratio is currently 103.19%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AVB. Scotiabank increased their price objective on AvalonBay Communities from $187.00 to $195.00 and gave the stock a "sector perform" rating in a report on Thursday, July 9th. Morgan Stanley restated an "equal weight" rating and issued a $203.00 target price (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. UBS Group lowered their target price on AvalonBay Communities from $191.00 to $189.00 and set a "neutral" rating on the stock in a research note on Thursday, May 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AvalonBay Communities in a research report on Monday, July 6th. Finally, Wall Street Zen raised AvalonBay Communities from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $196.80.

About AvalonBay Communities

AvalonBay Communities, Inc NYSE: AVB is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay's core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay's operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.

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