AvalonBay Communities, Inc. $AVB Stake Cut by California State Teachers Retirement System

California State Teachers Retirement System cut its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 229,250 shares of the real estate investment trust’s stock after selling 8,518 shares during the quarter. California State Teachers Retirement System owned 0.16% of AvalonBay Communities worth $37,448,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Auto Owners Insurance Co lifted its position in shares of AvalonBay Communities by 18,031.0% in the fourth quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock worth $213,677,000 after purchasing an additional 11,720,150 shares in the last quarter. Norges Bank acquired a new stake in shares of AvalonBay Communities during the fourth quarter worth approximately $1,394,635,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in AvalonBay Communities by 15,065.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,801,071 shares of the real estate investment trust’s stock valued at $326,552,000 after purchasing an additional 1,789,195 shares in the last quarter. Bank of America Corp DE grew its position in AvalonBay Communities by 76.0% during the third quarter. Bank of America Corp DE now owns 2,355,838 shares of the real estate investment trust’s stock valued at $455,077,000 after purchasing an additional 1,017,286 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in AvalonBay Communities by 22.4% in the 4th quarter. JPMorgan Chase & Co. now owns 5,159,950 shares of the real estate investment trust’s stock valued at $935,551,000 after buying an additional 944,129 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Scotiabank boosted their price target on shares of AvalonBay Communities from $187.00 to $195.00 and gave the company a “sector perform” rating in a report on Thursday, July 9th. Jefferies Financial Group raised shares of AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Truist Financial increased their price objective on AvalonBay Communities from $201.00 to $202.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Finally, Piper Sandler lifted their price objective on AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, AvalonBay Communities has a consensus rating of “Hold” and an average target price of $196.80.

AvalonBay Communities Trading Down 1.0%

NYSE:AVB opened at $185.82 on Friday. The stock’s 50 day moving average price is $187.85 and its 200 day moving average price is $179.70. 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 $26.40 billion, a P/E ratio of 30.36, a P/E/G ratio of 3.27 and a beta of 0.77. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.62.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.12). The business had revenue of $777.77 million for the quarter, compared to the consensus estimate of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same period in the previous year, the business posted $2.82 EPS. On average, research analysts forecast that AvalonBay Communities, Inc. will post 11.29 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.78 per share. The ex-dividend date was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 116.34%.

AvalonBay Communities 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.