Teacher Retirement System of Texas Sells 2,965 Shares of AvalonBay Communities, Inc. $AVB

Teacher Retirement System of Texas lowered its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 13.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,655 shares of the real estate investment trust’s stock after selling 2,965 shares during the quarter. Teacher Retirement System of Texas’ holdings in AvalonBay Communities were worth $3,604,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Empowered Funds LLC increased its stake in shares of AvalonBay Communities by 5.7% in the first quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock valued at $584,000 after buying an additional 148 shares during the period. Signaturefd LLC lifted its stake in AvalonBay Communities by 19.9% in the second quarter. Signaturefd LLC now owns 1,885 shares of the real estate investment trust’s stock valued at $384,000 after buying an additional 313 shares during the period. Sound Income Strategies LLC lifted its position in shares of AvalonBay Communities by 76.4% during the 2nd quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 81 shares during the period. Janney Montgomery Scott LLC increased its stake in AvalonBay Communities by 32.6% in the second quarter. Janney Montgomery Scott LLC now owns 68,357 shares of the real estate investment trust’s stock valued at $13,911,000 after purchasing an additional 16,798 shares in the last quarter. Finally, Truist Financial Corp increased its position in AvalonBay Communities by 44.6% in the 2nd quarter. Truist Financial Corp now owns 11,410 shares of the real estate investment trust’s stock valued at $2,322,000 after buying an additional 3,518 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $173.13 on Thursday. AvalonBay Communities, Inc. has a 52 week low of $166.73 and a 52 week high of $230.21. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.72. The stock has a market cap of $24.51 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 3.01 and a beta of 0.75. The business has a 50-day simple moving average of $179.95 and a 200 day simple moving average of $186.11.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.72%. The company had revenue of $766.80 million during the quarter, compared to analysts’ expectations of $766.22 million. During the same period in the prior year, the business earned $2.74 earnings per share. On average, research analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a dividend of $1.75 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $7.00 annualized dividend and a yield of 4.0%. AvalonBay Communities’s payout ratio is 85.47%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AVB. Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Sunday. Deutsche Bank Aktiengesellschaft downgraded AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 target price on the stock. in a research note on Tuesday, January 20th. Morgan Stanley cut their price target on shares of AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a report on Thursday, November 13th. Mizuho dropped their price objective on AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a report on Friday, January 9th. Six research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $203.50.

About AvalonBay Communities

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.