Public Employees Retirement System of Ohio Invests $38.66 Million in AvalonBay Communities, Inc. $AVB

Public Employees Retirement System of Ohio acquired a new position in AvalonBay Communities, Inc. (NYSE:AVB) during the 2nd quarter, Holdings Channel reports. The firm acquired 204,900 shares of the real estate investment trust’s stock, valued at approximately $38,663,000.

Other large investors also recently added to or reduced their stakes in the company. Reflection Asset Management purchased a new stake in AvalonBay Communities during the fourth quarter valued at approximately $25,000. Clearstead Trust LLC raised its position in AvalonBay Communities by 56.0% in the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 56 shares during the period. Zions Bancorporation National Association UT boosted its stake in shares of AvalonBay Communities by 300.0% during the 4th quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 120 shares during the last quarter. BOKF NA bought a new stake in shares of AvalonBay Communities during the 3rd quarter valued at $31,000. Finally, Headlands Technologies LLC bought a new stake in shares of AvalonBay Communities during the 2nd quarter valued at $36,000. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Price Performance

Shares of AvalonBay Communities stock opened at $184.06 on Friday. The stock’s 50-day simple moving average is $188.02 and its 200-day simple moving average is $180.77. AvalonBay Communities, Inc. has a 52 week low of $160.10 and a 52 week high of $198.63. The company has a market capitalization of $26.28 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 2.98 and a beta of 0.76. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.The business had revenue of $777.77 million during the quarter, compared to the consensus estimate of $772.37 million. During the same period last year, the company earned $2.82 EPS. As a group, analysts expect that AvalonBay Communities, Inc. will post 11.33 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.9%. The ex-dividend date was Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio is presently 116.34%.

Analysts Set New Price Targets

AVB has been the topic of a number of recent research reports. Truist Financial raised their target price on AvalonBay Communities from $201.00 to $202.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Weiss Ratings lowered AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price target on shares of AvalonBay Communities in a report on Wednesday, August 19th. Piper Sandler upped their price target on AvalonBay Communities from $195.00 to $210.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Finally, Barclays raised their price objective on AvalonBay Communities from $205.00 to $206.00 and gave the stock an “equal weight” rating in a research note on Monday, August 17th. Three analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $196.87.

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.