Police & Firemen s Retirement System of New Jersey Purchases 938 Shares of AvalonBay Communities, Inc. $AVB

Police & Firemen s Retirement System of New Jersey boosted its position in AvalonBay Communities, Inc. (NYSE:AVB) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,461 shares of the real estate investment trust’s stock after buying an additional 938 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in AvalonBay Communities were worth $4,367,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of AVB. Nuveen LLC bought a new position in shares of AvalonBay Communities during the 1st quarter worth approximately $280,226,000. PGGM Investments boosted its holdings in 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 worth $97,470,000 after purchasing an additional 472,890 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in AvalonBay Communities by 7.1% in 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 purchasing an additional 367,853 shares in the last quarter. JPMorgan Chase & Co. grew its position in AvalonBay Communities by 3.9% in the first quarter. JPMorgan Chase & Co. now owns 3,814,430 shares of the real estate investment trust’s stock valued at $818,653,000 after purchasing an additional 143,646 shares in the last quarter. Finally, Strs Ohio acquired a new stake in AvalonBay Communities in the 1st quarter valued at $30,453,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

AVB has been the subject of a number of recent research reports. Cantor Fitzgerald assumed coverage on shares of AvalonBay Communities in a research note on Wednesday, October 1st. They set a “neutral” rating and a $205.00 price objective for the company. Royal Bank Of Canada reduced their price target on AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. BNP Paribas Exane lowered AvalonBay Communities from an “outperform” rating to a “neutral” rating in a research report on Monday, September 29th. Barclays upped their price objective on AvalonBay Communities from $228.00 to $229.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 30th. Finally, Truist Financial raised shares of AvalonBay Communities from a “hold” rating to a “buy” rating and decreased their target price for the company from $224.00 to $218.00 in a research note on Thursday, September 11th. Five research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $209.35.

AvalonBay Communities Stock Performance

NYSE AVB opened at $177.74 on Friday. The stock has a market cap of $25.17 billion, a PE ratio of 21.70, a P/E/G ratio of 2.54 and a beta of 0.84. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a 50-day moving average of $186.66 and a 200-day moving average of $195.47. AvalonBay Communities, Inc. has a 52-week low of $166.73 and a 52-week high of $239.29.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). The company had revenue of $766.80 million during the quarter, compared to analyst estimates of $766.22 million. AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.75%. During the same quarter last year, the company posted $2.74 EPS. On average, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders 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 3.9%. AvalonBay Communities’s dividend payout ratio (DPR) is 85.47%.

AvalonBay Communities 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.