AvalonBay Communities, Inc. (NYSE:AVB) Shares Bought by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC increased its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 36.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,548 shares of the real estate investment trust’s stock after purchasing an additional 3,067 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in AvalonBay Communities were worth $2,388,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in shares of AvalonBay Communities by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 4,759,095 shares of the real estate investment trust’s stock worth $883,098,000 after purchasing an additional 109,585 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of AvalonBay Communities by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock worth $429,145,000 after purchasing an additional 13,631 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of AvalonBay Communities by 14.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock worth $367,534,000 after purchasing an additional 249,400 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of AvalonBay Communities by 0.5% in the 1st quarter. Clearbridge Investments LLC now owns 1,847,511 shares of the real estate investment trust’s stock worth $342,824,000 after purchasing an additional 8,809 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of AvalonBay Communities by 11.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,183,121 shares of the real estate investment trust’s stock worth $244,776,000 after purchasing an additional 126,055 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

Insider Transactions at AvalonBay Communities

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

Wall Street Analyst Weigh In

AVB has been the topic of several recent analyst reports. Piper Sandler lifted their target price on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Truist Financial lifted their target price on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Scotiabank lifted their target price on AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. UBS Group lifted their target price on AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Evercore ISI lifted their target price on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Thirteen 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 stock currently has a consensus rating of “Hold” and a consensus target price of $223.12.

AvalonBay Communities Price Performance

AVB stock opened at $229.90 on Friday. The stock has a market capitalization of $32.69 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97. The company’s 50-day moving average is $217.02 and its 200-day moving average is $201.06. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. AvalonBay Communities, Inc. has a 1 year low of $160.45 and a 1 year high of $236.26.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.93). The company had revenue of $726.04 million for the quarter, compared to analysts’ expectations 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 EPS. Equities research analysts expect that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

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.