Kentucky Retirement Systems Insurance Trust Fund Has $885,000 Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in AvalonBay Communities, Inc. (NYSE:AVB) by 4.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 4,125 shares of the real estate investment trust’s stock after selling 183 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in AvalonBay Communities were worth $885,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVB. Baker Tilly Wealth Management LLC lifted its position in shares of AvalonBay Communities by 1.8% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 3,247 shares of the real estate investment trust’s stock valued at $697,000 after acquiring an additional 58 shares during the period. Signaturefd LLC lifted its position in shares of AvalonBay Communities by 4.0% during the 4th quarter. Signaturefd LLC now owns 1,616 shares of the real estate investment trust’s stock valued at $356,000 after acquiring an additional 62 shares during the period. Private Advisor Group LLC increased its stake in AvalonBay Communities by 2.6% during the 4th quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust’s stock valued at $553,000 after purchasing an additional 63 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in AvalonBay Communities by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,179 shares of the real estate investment trust’s stock valued at $2,679,000 after purchasing an additional 69 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in AvalonBay Communities by 0.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,953 shares of the real estate investment trust’s stock valued at $5,929,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Insider Transactions at AvalonBay Communities

In related news, CFO Kevin P. O’shea sold 6,000 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $207.57, for a total value of $1,245,420.00. Following the completion of the sale, the chief financial officer now owns 22,782 shares of the company’s stock, valued at $4,728,859.74. This trade represents a 20.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Edward M. Schulman sold 5,945 shares of the firm’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $205.67, for a total value of $1,222,708.15. Following the completion of the sale, the executive vice president now directly owns 17,617 shares of the company’s stock, valued at $3,623,288.39. The trade was a 25.23% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.45% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Piper Sandler reduced their target price on shares of AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Scotiabank dropped their price objective on shares of AvalonBay Communities from $251.00 to $236.00 and set a “sector perform” rating on the stock in a report on Friday, June 13th. Mizuho dropped their price objective on shares of AvalonBay Communities from $238.00 to $213.00 and set an “outperform” rating on the stock in a report on Friday, May 23rd. Royal Bank Of Canada lowered their price target on shares of AvalonBay Communities from $223.00 to $220.00 and set a “sector perform” rating on the stock in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lowered their price target on shares of AvalonBay Communities from $251.00 to $249.00 and set an “overweight” rating on the stock in a report on Tuesday, June 17th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, AvalonBay Communities currently has a consensus rating of “Hold” and an average price target of $235.86.

AvalonBay Communities Stock Up 0.4%

Shares of NYSE AVB opened at $207.89 on Tuesday. AvalonBay Communities, Inc. has a one year low of $180.40 and a one year high of $239.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.51 and a quick ratio of 0.51. The firm’s 50 day simple moving average is $205.50 and its two-hundred day simple moving average is $212.21. The stock has a market capitalization of $29.60 billion, a P/E ratio of 25.89, a PEG ratio of 2.82 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.03. AvalonBay Communities had a net margin of 38.86% and a return on equity of 9.65%. The firm had revenue of $693.43 million for the quarter, compared to analysts’ expectations of $744.61 million. During the same quarter last year, the business earned $2.70 earnings per share. As a group, analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Monday, June 30th. AvalonBay Communities’s dividend payout ratio is 87.17%.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.