Strs Ohio Raises Stock Position in AvalonBay Communities, Inc. $AVB

Strs Ohio lifted its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 25.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,350 shares of the real estate investment trust’s stock after buying an additional 35,701 shares during the period. Strs Ohio’s holdings in AvalonBay Communities were worth $34,452,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. purchased a new stake in AvalonBay Communities in the third quarter valued at $30,000. Clearstead Trust LLC increased its position in shares of AvalonBay Communities by 62.0% during the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 62 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of AvalonBay Communities in the 2nd quarter valued at about $36,000. Sound Income Strategies LLC boosted its position in shares of AvalonBay Communities by 76.4% in the 2nd quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 81 shares during the period. Finally, Hilltop National Bank acquired a new stake in shares of AvalonBay Communities in the 2nd quarter valued at about $58,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

NYSE AVB opened at $178.76 on Friday. The stock has a market capitalization of $25.31 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 3.01 and a beta of 0.75. The business’s 50 day moving average is $180.04 and its two-hundred day moving average is $186.76. AvalonBay Communities, Inc. has a 12-month low of $166.73 and a 12-month high of $230.21. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72.

AvalonBay Communities (NYSE:AVB) last posted its quarterly 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 business had revenue of $766.80 million during the quarter, compared to analysts’ expectations of $766.22 million. During the same quarter last year, the firm earned $2.74 earnings per share. Research analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Wednesday, December 31st. AvalonBay Communities’s payout ratio is presently 85.47%.

Analysts Set New Price Targets

Several research analysts have commented on AVB shares. Evercore ISI reaffirmed an “in-line” rating and set a $214.00 price target on shares of AvalonBay Communities in a research report on Monday, November 3rd. Morgan Stanley cut their target price 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. UBS Group decreased their price target on shares of AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Royal Bank Of Canada lowered their price objective on shares of AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft cut shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 target price for the company. in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, AvalonBay Communities currently has a consensus rating of “Hold” and a consensus target price of $203.50.

AvalonBay Communities 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.