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Vanderbilt University Lowers Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

AvalonBay Communities logo with Finance background

Vanderbilt University lowered its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 19.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,202 shares of the real estate investment trust's stock after selling 1,948 shares during the quarter. Vanderbilt University's holdings in AvalonBay Communities were worth $1,760,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AVB. Norges Bank acquired a new stake in shares of AvalonBay Communities during the fourth quarter worth about $1,499,050,000. Price T Rowe Associates Inc. MD lifted its position in shares of AvalonBay Communities by 35.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust's stock worth $1,133,328,000 after purchasing an additional 1,336,698 shares in the last quarter. Northern Trust Corp lifted its position in shares of AvalonBay Communities by 54.8% during the fourth quarter. Northern Trust Corp now owns 2,642,743 shares of the real estate investment trust's stock worth $581,324,000 after purchasing an additional 935,770 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of AvalonBay Communities by 49.9% during the fourth quarter. Wellington Management Group LLP now owns 2,488,975 shares of the real estate investment trust's stock worth $547,500,000 after purchasing an additional 828,009 shares in the last quarter. Finally, Cohen & Steers Inc. lifted its position in shares of AvalonBay Communities by 25.7% during the fourth quarter. Cohen & Steers Inc. now owns 3,130,108 shares of the real estate investment trust's stock worth $688,527,000 after purchasing an additional 639,402 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

AvalonBay Communities Stock Up 0.4%

AvalonBay Communities stock traded up $0.88 during mid-day trading on Monday, hitting $207.89. The company had a trading volume of 975,884 shares, compared to its average volume of 731,762. The stock has a market cap of $29.60 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 2.82 and a beta of 0.86. AvalonBay Communities, Inc. has a 1 year low of $180.40 and a 1 year high of $239.29. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.70. The business has a fifty day moving average of $205.50 and a 200 day moving average of $212.21.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, beating the consensus estimate of $2.80 by $0.03. The company had revenue of $693.43 million for the quarter, compared to analyst estimates of $744.61 million. AvalonBay Communities had a net margin of 38.86% and a return on equity of 9.65%. During the same period in the prior year, the firm posted $2.70 earnings per share. On average, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $1.75 dividend. The ex-dividend date is Monday, June 30th. This represents a $7.00 annualized dividend and a yield of 3.37%. AvalonBay Communities's dividend payout ratio is currently 87.17%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AVB shares. Royal Bank Of Canada reduced their price target on shares of AvalonBay Communities from $223.00 to $220.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Truist Financial increased their price target on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. JPMorgan Chase & Co. reduced their price target on shares of AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating on the stock in a research report on Tuesday, June 17th. Piper Sandler reduced their target price on shares of AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Morgan Stanley raised their target price on shares of AvalonBay Communities from $226.00 to $228.00 and gave the company an "equal weight" rating in a report on Thursday, May 15th. Nine equities research 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 stock currently has a consensus rating of "Hold" and an average target price of $235.86.

Check Out Our Latest Stock Analysis on AvalonBay Communities

Insider Buying and Selling at AvalonBay Communities

In other news, EVP Edward M. Schulman sold 5,945 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the transaction, the executive vice president now directly owns 17,617 shares in the company, valued at approximately $3,623,288.39. This trade represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin P. O'shea sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $207.57, for a total transaction of $1,245,420.00. Following the transaction, the chief financial officer now owns 22,782 shares in the company, valued at approximately $4,728,859.74. This trade represents a 20.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by insiders.

AvalonBay Communities Company Profile

(Free Report)

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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