Virginia Retirement Systems ET AL Grows Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Virginia Retirement Systems ET AL increased its position in AvalonBay Communities, Inc. (NYSE:AVBGet Rating) by 12.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,321 shares of the real estate investment trust’s stock after purchasing an additional 22,100 shares during the quarter. Virginia Retirement Systems ET AL owned 0.14% of AvalonBay Communities worth $48,015,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Benjamin Edwards Inc. grew its position in AvalonBay Communities by 2.2% in the 4th quarter. Benjamin Edwards Inc. now owns 2,442 shares of the real estate investment trust’s stock valued at $617,000 after buying an additional 53 shares in the last quarter. PFG Advisors grew its position in AvalonBay Communities by 0.8% in the 1st quarter. PFG Advisors now owns 6,475 shares of the real estate investment trust’s stock valued at $1,608,000 after buying an additional 53 shares in the last quarter. Redpoint Investment Management Pty Ltd grew its position in AvalonBay Communities by 0.4% in the 1st quarter. Redpoint Investment Management Pty Ltd now owns 13,548 shares of the real estate investment trust’s stock valued at $3,365,000 after buying an additional 54 shares in the last quarter. Segment Wealth Management LLC grew its position in AvalonBay Communities by 2.9% in the 4th quarter. Segment Wealth Management LLC now owns 1,940 shares of the real estate investment trust’s stock valued at $490,000 after buying an additional 55 shares in the last quarter. Finally, Clarius Group LLC grew its position in AvalonBay Communities by 6.3% in the 4th quarter. Clarius Group LLC now owns 959 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Shares of AVB traded up $1.34 during trading hours on Friday, reaching $195.59. The stock had a trading volume of 5,535 shares, compared to its average volume of 770,689. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.73. AvalonBay Communities, Inc. has a 52 week low of $183.35 and a 52 week high of $259.05. The firm has a 50-day moving average of $206.68 and a 200 day moving average of $232.06. The company has a market cap of $27.35 billion, a P/E ratio of 24.37, a P/E/G ratio of 3.29 and a beta of 0.94.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Wednesday, June 29th. AvalonBay Communities’s dividend payout ratio is currently 79.10%.

Several equities analysts have recently weighed in on AVB shares. KeyCorp reduced their price objective on shares of AvalonBay Communities from $275.00 to $237.00 and set an “overweight” rating for the company in a research report on Tuesday. Credit Suisse Group started coverage on shares of AvalonBay Communities in a research report on Wednesday, June 22nd. They set a “neutral” rating and a $208.00 price objective for the company. Morgan Stanley reduced their price objective on shares of AvalonBay Communities from $247.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday, May 25th. Scotiabank decreased their price objective on shares of AvalonBay Communities from $262.00 to $238.00 in a research note on Thursday, May 19th. Finally, Truist Financial lowered their price objective on shares of AvalonBay Communities from $263.00 to $224.00 and set a “hold” rating on the stock in a research report on Friday, June 24th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $243.28.

AvalonBay Communities Company Profile (Get Rating)

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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