Vanderbilt University Acquires 5,363 Shares of AvalonBay Communities, Inc. $AVB

Vanderbilt University grew its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 41.4% during the first quarter, HoldingsChannel.com reports. The firm owned 18,328 shares of the real estate investment trust’s stock after acquiring an additional 5,363 shares during the quarter. AvalonBay Communities makes up about 0.6% of Vanderbilt University’s holdings, making the stock its 24th biggest holding. Vanderbilt University’s holdings in AvalonBay Communities were worth $2,994,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. OP Asset Management Ltd acquired a new stake in shares of AvalonBay Communities in the first quarter valued at approximately $2,392,000. SG Americas Securities LLC grew its position in AvalonBay Communities by 96.7% during the first quarter. SG Americas Securities LLC now owns 159,728 shares of the real estate investment trust’s stock worth $26,092,000 after buying an additional 78,509 shares in the last quarter. Evolve Private Wealth LLC acquired a new stake in AvalonBay Communities during the first quarter worth approximately $237,000. Auto Owners Insurance Co increased its stake in AvalonBay Communities by 18,031.0% during the 4th quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock worth $213,677,000 after acquiring an additional 11,720,150 shares during the period. Finally, Reflection Asset Management bought a new position in AvalonBay Communities during the 4th quarter worth $25,000. 92.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on AVB shares. Royal Bank Of Canada upped their target price on AvalonBay Communities from $180.00 to $188.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a research note on Wednesday, April 8th. Morgan Stanley reaffirmed an “equal weight” rating and set a $203.00 price objective (down from $208.00) on shares of AvalonBay Communities in a research report on Thursday, March 26th. Piper Sandler increased their price objective on shares of AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Scotiabank dropped their target price on shares of AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating for the company in a research report on Thursday, May 14th. Four analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $195.13.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $183.62 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.62 and a current ratio of 0.62. AvalonBay Communities, Inc. has a 52 week low of $160.10 and a 52 week high of $206.62. The stock has a market capitalization of $25.54 billion, a P/E ratio of 26.61, a price-to-earnings-growth ratio of 3.18 and a beta of 0.78. The stock has a fifty day moving average of $182.08 and a 200-day moving average of $177.66.

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

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 103.19%.

AvalonBay Communities Company Profile

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.