AvalonBay Communities, Inc. $AVB Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 12.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,756 shares of the real estate investment trust’s stock after selling 31,227 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in AvalonBay Communities were worth $34,590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. B&I Capital AG acquired a new stake in shares of AvalonBay Communities in the first quarter valued at approximately $11,194,000. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of AvalonBay Communities during the 4th quarter worth approximately $26,237,000. Principal Financial Group Inc. raised its position in shares of AvalonBay Communities by 9.3% during the 4th quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust’s stock worth $815,360,000 after purchasing an additional 383,983 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of AvalonBay Communities by 4.5% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 940,065 shares of the real estate investment trust’s stock worth $170,443,000 after purchasing an additional 40,216 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of AvalonBay Communities by 42.5% during the 4th quarter. Pacer Advisors Inc. now owns 16,167 shares of the real estate investment trust’s stock worth $2,931,000 after purchasing an additional 4,820 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Ratings Changes

AVB has been the topic of a number of analyst reports. Wolfe Research upgraded AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price on the stock in a report on Monday, June 1st. Royal Bank Of Canada boosted their price target on AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Barclays restated an “equal weight” rating and issued a $205.00 price objective (up from $203.00) on shares of AvalonBay Communities in a research report on Tuesday, July 14th. Finally, UBS Group decreased their price objective on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities has an average rating of “Hold” and an average price target of $196.80.

AvalonBay Communities Stock Down 0.7%

Shares of NYSE AVB opened at $189.53 on Friday. AvalonBay Communities, Inc. has a 1 year low of $160.10 and a 1 year high of $203.29. The firm’s 50 day moving average price is $187.49 and its 200 day moving average price is $179.44. The firm has a market cap of $26.93 billion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 3.32 and a beta of 0.77. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.62.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.12). The business had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same quarter last year, the firm posted $2.82 earnings per share. As a group, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. AvalonBay Communities’s payout ratio is currently 103.19%.

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.