Strs Ohio Has $21.70 Million Holdings in AvalonBay Communities, Inc. $AVB

Strs Ohio cut its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 6.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,851 shares of the real estate investment trust’s stock after selling 9,006 shares during the period. Strs Ohio owned approximately 0.10% of AvalonBay Communities worth $21,701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Auto Owners Insurance Co raised its position in shares of AvalonBay Communities by 18,031.0% during the fourth quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock valued at $213,677,000 after buying an additional 11,720,150 shares during the last quarter. State Street Corp grew its position in AvalonBay Communities by 1.0% during the third quarter. State Street Corp now owns 9,537,966 shares of the real estate investment trust’s stock worth $1,858,788,000 after buying an additional 92,467 shares in the last quarter. Norges Bank acquired a new stake in AvalonBay Communities during the fourth quarter worth about $1,394,635,000. JPMorgan Chase & Co. increased its stake in AvalonBay Communities by 22.4% during the fourth quarter. JPMorgan Chase & Co. now owns 5,159,950 shares of the real estate investment trust’s stock valued at $935,551,000 after acquiring an additional 944,129 shares during the period. Finally, Principal Financial Group Inc. increased its stake in AvalonBay Communities by 9.3% during the fourth quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust’s stock valued at $815,360,000 after acquiring an additional 383,983 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Down 0.2%

Shares of AVB opened at $193.62 on Friday. The stock has a market cap of $26.93 billion, a price-to-earnings ratio of 28.06, a P/E/G ratio of 3.38 and a beta of 0.77. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.80. AvalonBay Communities, Inc. has a 12 month low of $160.10 and a 12 month high of $205.00. The company has a 50-day moving average price of $184.68 and a two-hundred day moving average price of $178.34.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.47). AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. The company had revenue of $770.28 million during the quarter, compared to the consensus estimate of $768.80 million. During the same quarter in the prior year, the company posted $2.83 earnings per share. Equities analysts predict that AvalonBay Communities, Inc. will post 11.28 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio is 103.19%.

Analyst Ratings Changes

A number of analysts have commented on the company. Royal Bank Of Canada raised their price objective on AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Piper Sandler upped their target price on AvalonBay Communities from $183.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. UBS Group reduced their target price on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Finally, Scotiabank decreased their price target on shares of AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 14th. Four equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $195.13.

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.