Dimensional Fund Advisors LP Acquires 13,631 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Dimensional Fund Advisors LP boosted its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,074,269 shares of the real estate investment trust’s stock after buying an additional 13,631 shares during the period. Dimensional Fund Advisors LP owned approximately 1.46% of AvalonBay Communities worth $429,145,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AVB. Private Advisor Group LLC increased its position in AvalonBay Communities by 12.0% in the 4th quarter. Private Advisor Group LLC now owns 2,031 shares of the real estate investment trust’s stock worth $380,000 after buying an additional 217 shares during the period. Principal Securities Inc. bought a new position in AvalonBay Communities in the 4th quarter worth approximately $137,000. Jump Financial LLC increased its position in AvalonBay Communities by 53.3% in the 4th quarter. Jump Financial LLC now owns 3,680 shares of the real estate investment trust’s stock worth $689,000 after buying an additional 1,280 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in AvalonBay Communities by 30.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,883 shares of the real estate investment trust’s stock worth $1,101,000 after buying an additional 1,386 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in AvalonBay Communities by 7.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 43,995 shares of the real estate investment trust’s stock worth $8,237,000 after buying an additional 2,990 shares during the period. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Stock Performance

Shares of NYSE:AVB opened at $232.85 on Tuesday. AvalonBay Communities, Inc. has a twelve month low of $160.45 and a twelve month high of $236.26. The firm has a market cap of $33.11 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. The business has a fifty day moving average of $214.83 and a 200-day moving average of $199.96.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The firm had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same quarter in the previous year, the business earned $2.66 earnings per share. On average, equities research analysts predict that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the sale, the senior vice president now directly owns 4,383 shares in the company, valued at $908,026.11. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the transaction, the senior vice president now owns 4,383 shares in the company, valued at $908,026.11. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares in the company, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on AVB. Wells Fargo & Company boosted their price objective on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Royal Bank of Canada boosted their price objective on AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Mizuho boosted their price objective on AvalonBay Communities from $185.00 to $194.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Finally, Evercore ISI increased their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research note on Monday. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $223.12.

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.