Utah Retirement Systems Has $19.13 Million Position in AvalonBay Communities, Inc. (NYSE:AVB)

Utah Retirement Systems increased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 267.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,678 shares of the real estate investment trust’s stock after buying an additional 75,500 shares during the period. Utah Retirement Systems owned 0.07% of AvalonBay Communities worth $19,129,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AVB. Norges Bank acquired a new stake in shares of AvalonBay Communities in the 4th quarter valued at about $598,511,000. Centersquare Investment Management LLC lifted its position in AvalonBay Communities by 249.1% in the 1st quarter. Centersquare Investment Management LLC now owns 1,513,306 shares of the real estate investment trust’s stock valued at $279,220,000 after acquiring an additional 1,079,813 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in AvalonBay Communities by 43.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,323,021 shares of the real estate investment trust’s stock valued at $533,112,000 after acquiring an additional 1,006,693 shares in the last quarter. Nuveen Asset Management LLC lifted its position in AvalonBay Communities by 61.9% in the 1st quarter. Nuveen Asset Management LLC now owns 2,209,747 shares of the real estate investment trust’s stock valued at $407,720,000 after acquiring an additional 845,274 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its position in AvalonBay Communities by 46.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,965,316 shares of the real estate investment trust’s stock valued at $362,620,000 after acquiring an additional 619,571 shares in the last quarter. Institutional investors own 86.55% of the company’s stock.

Shares of AVB traded down $2.29 during mid-day trading on Thursday, reaching $225.89. 2,238 shares of the stock traded hands, compared to its average volume of 643,557. The business has a fifty day simple moving average of $211.52. The firm has a market cap of $31.53 billion, a P/E ratio of 39.89, a price-to-earnings-growth ratio of 10.15 and a beta of 0.93. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.71. AvalonBay Communities, Inc. has a 1 year low of $131.38 and a 1 year high of $230.60.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Tuesday, April 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.92). AvalonBay Communities had a net margin of 35.63% and a return on equity of 7.47%. The firm had revenue of $497.44 million for the quarter, compared to analysts’ expectations of $544.98 million. During the same quarter last year, the firm earned $2.39 earnings per share. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. Equities analysts anticipate that AvalonBay Communities, Inc. will post 7.84 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 15th. Stockholders of record on Wednesday, June 30th were issued a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Tuesday, June 29th. AvalonBay Communities’s dividend payout ratio is currently 73.19%.

AVB has been the topic of several recent research reports. Wolfe Research initiated coverage on shares of AvalonBay Communities in a research report on Monday, June 14th. They issued a “peer perform” rating and a $238.00 price target on the stock. Morgan Stanley lifted their target price on shares of AvalonBay Communities from $218.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 15th. raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Monday, April 19th. Colliers Securities reissued a “hold” rating and set a $224.00 target price on shares of AvalonBay Communities in a research report on Friday, July 16th. Finally, Smith Barney Citigroup raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Monday, April 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. AvalonBay Communities presently has an average rating of “Hold” and a consensus target price of $199.59.

In other news, CFO Kevin P. O’shea sold 3,000 shares of AvalonBay Communities stock in a transaction on Monday, May 24th. The shares were sold at an average price of $204.19, for a total transaction of $612,570.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Keri A. Shea sold 994 shares of the business’s stock in a transaction on Thursday, June 3rd. The stock was sold at an average price of $212.94, for a total transaction of $211,662.36. The disclosure for this sale can be found here. Insiders have sold a total of 5,265 shares of company stock valued at $1,083,860 over the last ninety days. 0.36% of the stock is currently owned by insiders.

AvalonBay Communities Profile

As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. 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 markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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