Institutional investors purchased a net $1.2 million shares of AVB during the quarter ended March 2013. This may signal that the smart money is gaining interest in this company as the 90.58% of shares outstanding that institutional investors hold is actually below the Real Estate Investment Trusts industry average.
| Mutual fund holders | 54.37% |
| Other institutional | 36.21% |
| Individual stakeholders | 1.54% |