State of Michigan Retirement System Sells 500 Shares of AvalonBay Communities, Inc. $AVB

State of Michigan Retirement System lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 41,011 shares of the real estate investment trust’s stock after selling 500 shares during the quarter. State of Michigan Retirement System’s holdings in AvalonBay Communities were worth $8,346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AVB. Nuveen LLC bought a new stake in shares of AvalonBay Communities during the first quarter valued at approximately $280,226,000. PGGM Investments increased its position in shares of AvalonBay Communities by 7,782.9% during the second quarter. PGGM Investments now owns 478,966 shares of the real estate investment trust’s stock valued at $97,470,000 after acquiring an additional 472,890 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of AvalonBay Communities by 7.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,520,036 shares of the real estate investment trust’s stock valued at $1,184,712,000 after acquiring an additional 367,853 shares in the last quarter. JPMorgan Chase & Co. grew its position in AvalonBay Communities by 3.9% in the 1st quarter. JPMorgan Chase & Co. now owns 3,814,430 shares of the real estate investment trust’s stock worth $818,653,000 after purchasing an additional 143,646 shares during the period. Finally, Strs Ohio bought a new stake in AvalonBay Communities in the 1st quarter worth approximately $30,453,000. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Trading Up 0.8%

Shares of AvalonBay Communities stock opened at $175.33 on Tuesday. The company’s fifty day simple moving average is $189.59 and its 200-day simple moving average is $197.21. The stock has a market capitalization of $24.96 billion, a PE ratio of 21.41, a P/E/G ratio of 2.54 and a beta of 0.86. AvalonBay Communities, Inc. has a 1-year low of $166.73 and a 1-year high of $239.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.70.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.81 by ($0.06). The business had revenue of $682.36 million for the quarter, compared to analysts’ expectations of $766.22 million. AvalonBay Communities had a return on equity of 9.75% and a net margin of 38.78%.During the same quarter in the prior year, the business earned $2.74 EPS. AvalonBay Communities has set its FY 2025 guidance at 11.150-11.35 EPS. Q4 2025 guidance at 2.800-2.90 EPS. As a group, equities analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a dividend of $1.75 per share. The ex-dividend date was Tuesday, September 30th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 4.0%. AvalonBay Communities’s payout ratio is 85.47%.

Wall Street Analyst Weigh In

AVB has been the subject of a number of research analyst reports. Piper Sandler cut their target price on shares of AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating for the company in a research report on Monday. Scotiabank cut their target price on shares of AvalonBay Communities from $236.00 to $226.00 and set a “sector perform” rating for the company in a research report on Thursday, August 14th. BNP Paribas Exane downgraded shares of AvalonBay Communities from an “outperform” rating to a “neutral” rating in a research report on Monday, September 29th. Evercore ISI reaffirmed an “in-line” rating and issued a $214.00 target price on shares of AvalonBay Communities in a research report on Monday. Finally, BNP Paribas downgraded shares of AvalonBay Communities from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Five investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $216.54.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.