Dimensional Fund Advisors LP Purchases 33,449 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Dimensional Fund Advisors LP lifted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.7% during the second quarter, HoldingsChannel reports. The firm owned 1,989,118 shares of the real estate investment trust’s stock after buying an additional 33,449 shares during the quarter. Dimensional Fund Advisors LP’s holdings in AvalonBay Communities were worth $376,479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVB. BOS Asset Management LLC increased its holdings in shares of AvalonBay Communities by 4.6% during the first quarter. BOS Asset Management LLC now owns 1,346 shares of the real estate investment trust’s stock worth $226,000 after purchasing an additional 59 shares during the period. Advisor Resource Council grew its holdings in shares of AvalonBay Communities by 5.0% during the 2nd quarter. Advisor Resource Council now owns 1,250 shares of the real estate investment trust’s stock worth $237,000 after purchasing an additional 60 shares in the last quarter. Carmel Capital Partners LLC increased its position in shares of AvalonBay Communities by 7.1% in the second quarter. Carmel Capital Partners LLC now owns 941 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 62 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in AvalonBay Communities by 42.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 222 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 66 shares in the last quarter. Finally, Kentucky Retirement Systems lifted its position in AvalonBay Communities by 0.6% during the first quarter. Kentucky Retirement Systems now owns 11,061 shares of the real estate investment trust’s stock worth $1,859,000 after purchasing an additional 67 shares during the period. 88.71% of the stock is owned by institutional investors.

AvalonBay Communities Stock Performance

NYSE:AVB opened at $171.87 on Wednesday. The company has a market capitalization of $24.41 billion, a PE ratio of 26.16, a P/E/G ratio of 2.55 and a beta of 0.95. AvalonBay Communities, Inc. has a fifty-two week low of $153.07 and a fifty-two week high of $198.65. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.84 and a current ratio of 1.84. The company has a 50 day simple moving average of $173.20 and a two-hundred day simple moving average of $180.50.

AvalonBay Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a $1.65 dividend. The ex-dividend date was Thursday, September 28th. This represents a $6.60 annualized dividend and a yield of 3.84%. AvalonBay Communities’s payout ratio is 100.46%.

Analyst Ratings Changes

Several brokerages have recently commented on AVB. JPMorgan Chase & Co. boosted their target price on shares of AvalonBay Communities from $188.00 to $201.00 and gave the company an “underweight” rating in a research report on Monday, August 21st. Barclays cut their target price on AvalonBay Communities from $195.00 to $194.00 and set an “equal weight” rating for the company in a research note on Friday, September 22nd. Colliers Securities raised AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $202.00 price target for the company in a report on Thursday, September 14th. Royal Bank of Canada raised their price objective on AvalonBay Communities from $193.00 to $195.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 2nd. Finally, Piper Sandler raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $197.00 to $194.00 in a research note on Tuesday, October 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, AvalonBay Communities presently has a consensus rating of “Hold” and a consensus target price of $195.82.

About AvalonBay Communities

As of June 30, 2023, the Company owned or held a direct or indirect ownership interest in 294 apartment communities containing 88,659 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. 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.