AvalonBay Communities, Inc. (NYSE:AVB) Holdings Trimmed by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado trimmed its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 5.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,435 shares of the real estate investment trust’s stock after selling 1,108 shares during the period. Public Employees Retirement Association of Colorado’s holdings in AvalonBay Communities were worth $3,606,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVB. Byrne Asset Management LLC grew its position in AvalonBay Communities by 270.0% during the 1st quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 135 shares in the last quarter. Pinnacle Bancorp Inc. grew its position in AvalonBay Communities by 50.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 75 shares in the last quarter. Arlington Trust Co LLC purchased a new position in AvalonBay Communities during the 4th quarter worth approximately $45,000. Bear Mountain Capital Inc. purchased a new position in AvalonBay Communities during the 4th quarter worth approximately $66,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of AvalonBay Communities during the 1st quarter valued at $68,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on AVB. UBS Group boosted their price target on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Evercore ISI boosted their price target on shares of AvalonBay Communities from $205.00 to $207.00 and gave the company an “in-line” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price target on shares of AvalonBay Communities from $194.00 to $212.00 and gave the company a “neutral” rating in a report on Monday, June 17th. Royal Bank of Canada boosted their price target on shares of AvalonBay Communities from $191.00 to $196.00 and gave the company a “sector perform” rating in a report on Monday, April 29th. Finally, Argus boosted their price target on shares of AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $207.76.

AvalonBay Communities Stock Performance

AvalonBay Communities stock traded up $1.36 on Monday, reaching $207.84. 213,368 shares of the stock were exchanged, compared to its average volume of 717,871. The stock has a market cap of $29.55 billion, a PE ratio of 30.97, a PEG ratio of 3.01 and a beta of 0.96. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a twelve month low of $160.45 and a twelve month high of $211.20. The firm has a fifty day moving average price of $201.17 and a two-hundred day moving average price of $189.43.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). The firm had revenue of $712.86 million for the quarter, compared to analyst estimates of $706.61 million. AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. During the same period in the prior year, the firm earned $2.57 EPS. Sell-side analysts anticipate that AvalonBay Communities, Inc. will post 10.92 EPS for the current year.

AvalonBay Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Friday, June 28th. AvalonBay Communities’s dividend payout ratio is 101.19%.

About AvalonBay Communities

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.