State of New Jersey Common Pension Fund D Has $16.71 Million Stock Holdings in AvalonBay Communities, Inc. $AVB

State of New Jersey Common Pension Fund D grew its position in AvalonBay Communities, Inc. (NYSE:AVB) by 1.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 82,105 shares of the real estate investment trust’s stock after purchasing an additional 1,000 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in AvalonBay Communities were worth $16,708,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in AvalonBay Communities by 1.5% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 723,402 shares of the real estate investment trust’s stock worth $147,212,000 after purchasing an additional 10,929 shares during the period. Pacific Sun Financial Corp raised its holdings in AvalonBay Communities by 42.6% in the second quarter. Pacific Sun Financial Corp now owns 1,710 shares of the real estate investment trust’s stock worth $348,000 after purchasing an additional 511 shares during the period. Whittier Trust Co. raised its holdings in AvalonBay Communities by 2.5% in the second quarter. Whittier Trust Co. now owns 2,725 shares of the real estate investment trust’s stock worth $555,000 after purchasing an additional 66 shares during the period. Probity Advisors Inc. raised its holdings in AvalonBay Communities by 2.7% in the second quarter. Probity Advisors Inc. now owns 2,243 shares of the real estate investment trust’s stock worth $456,000 after purchasing an additional 60 shares during the period. Finally, Phoenix Financial Ltd. raised its holdings in AvalonBay Communities by 14.2% in the second quarter. Phoenix Financial Ltd. now owns 1,143 shares of the real estate investment trust’s stock worth $233,000 after purchasing an additional 142 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AVB shares. Scotiabank dropped their price objective on shares of AvalonBay Communities from $236.00 to $226.00 and set a “sector perform” rating on the stock in a report on Thursday, August 14th. Royal Bank Of Canada dropped their price objective on shares of AvalonBay Communities from $216.00 to $211.00 and set a “sector perform” rating on the stock in a report on Friday, August 1st. Truist Financial upgraded shares of AvalonBay Communities from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $224.00 to $218.00 in a report on Thursday, September 11th. Weiss Ratings restated a “hold (c)” rating on shares of AvalonBay Communities in a report on Tuesday, October 14th. Finally, Barclays raised their price objective on shares of AvalonBay Communities from $228.00 to $229.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 30th. Five research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $217.31.

AvalonBay Communities Stock Up 0.2%

AvalonBay Communities stock opened at $189.43 on Friday. The company has a market cap of $26.97 billion, a P/E ratio of 23.33, a price-to-earnings-growth ratio of 2.73 and a beta of 0.86. AvalonBay Communities, Inc. has a 1-year low of $180.40 and a 1-year high of $239.29. The company has a fifty day simple moving average of $191.05 and a 200 day simple moving average of $198.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.71.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.02. The business had revenue of $689.90 million during the quarter, compared to the consensus estimate of $759.08 million. AvalonBay Communities had a net margin of 38.91% and a return on equity of 9.70%. During the same quarter last year, the firm earned $2.77 earnings per share. AvalonBay Communities has set its FY 2025 guidance at 11.190-11.590 EPS. Q3 2025 guidance at 2.750-2.850 EPS. Research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 30th. AvalonBay Communities’s dividend payout ratio (DPR) is 86.21%.

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.