California State Teachers Retirement System Has $37.45 Million Holdings in AvalonBay Communities, Inc. $AVB

California State Teachers Retirement System lessened its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 229,250 shares of the real estate investment trust’s stock after selling 8,518 shares during the period. California State Teachers Retirement System’s holdings in AvalonBay Communities were worth $37,448,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Reflection Asset Management acquired a new stake in AvalonBay Communities in the 4th quarter worth approximately $25,000. Clearstead Trust LLC boosted its position in AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 56 shares during the period. Zions Bancorporation National Association UT grew its holdings in AvalonBay Communities by 300.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares during the last quarter. BOKF NA acquired a new position in AvalonBay Communities during the third quarter valued at approximately $31,000. Finally, Elyxium Wealth LLC bought a new position in shares of AvalonBay Communities in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays restated an “equal weight” rating and issued a $205.00 price objective (up from $203.00) on shares of AvalonBay Communities in a research note on Tuesday, July 14th. Scotiabank lifted their target price on shares of AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a report on Thursday, July 9th. Wells Fargo & Company cut their target price on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Cantor Fitzgerald boosted their target price on shares of AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, Truist Financial raised their price target on AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Three investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Hold” and an average price target of $196.80.

AvalonBay Communities Trading Down 1.0%

Shares of AvalonBay Communities stock opened at $185.82 on Friday. AvalonBay Communities, Inc. has a 1 year low of $160.10 and a 1 year high of $198.63. The company’s fifty day simple moving average is $187.85 and its 200-day simple moving average is $179.70. The company has a market cap of $26.40 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 3.27 and a beta of 0.77. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. The company had revenue of $777.77 million during the quarter, compared to the consensus estimate of $772.37 million. During the same period last year, the company earned $2.82 earnings per share. As a group, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.29 EPS for the current year.

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.78 per share. The ex-dividend date of this dividend 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 is currently 116.34%.

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.