Teacher Retirement System of Texas Purchases 329,413 Shares of AvalonBay Communities, Inc. $AVB

Teacher Retirement System of Texas grew its position in AvalonBay Communities, Inc. (NYSE:AVB) by 1,765.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 348,068 shares of the real estate investment trust’s stock after acquiring an additional 329,413 shares during the period. Teacher Retirement System of Texas’ holdings in AvalonBay Communities were worth $63,108,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AVB. Empowered Funds LLC grew its position in shares of AvalonBay Communities by 5.7% in the 1st quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock valued at $584,000 after acquiring an additional 148 shares during the period. Guggenheim Capital LLC grew its position in shares of AvalonBay Communities by 2.8% in the 2nd quarter. Guggenheim Capital LLC now owns 4,759 shares of the real estate investment trust’s stock valued at $968,000 after acquiring an additional 129 shares during the period. Baird Financial Group Inc. acquired a new stake in shares of AvalonBay Communities during the 2nd quarter worth about $1,374,000. Cresset Asset Management LLC lifted its stake in shares of AvalonBay Communities by 14.2% during the 2nd quarter. Cresset Asset Management LLC now owns 2,890 shares of the real estate investment trust’s stock worth $591,000 after buying an additional 360 shares during the last quarter. Finally, Bank of Nova Scotia lifted its stake in shares of AvalonBay Communities by 9.5% during the 2nd quarter. Bank of Nova Scotia now owns 18,854 shares of the real estate investment trust’s stock worth $3,837,000 after buying an additional 1,629 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

Shares of AvalonBay Communities stock opened at $171.09 on Thursday. AvalonBay Communities, Inc. has a twelve month low of $160.10 and a twelve month high of $213.34. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.79. The company has a 50-day simple moving average of $171.31 and a two-hundred day simple moving average of $177.03. The stock has a market capitalization of $23.80 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 3.02 and a beta of 0.75.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.01. AvalonBay Communities had a net margin of 34.57% and a return on equity of 8.78%. The business had revenue of $767.86 million during the quarter, compared to analysts’ expectations of $766.38 million. During the same quarter in the previous year, the company earned $2.80 EPS. Analysts forecast that AvalonBay Communities, Inc. will post 11.29 EPS for the current year.

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a $1.78 dividend. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.75. The ex-dividend date was Tuesday, March 31st. This represents a $7.12 annualized dividend and a yield of 4.2%. AvalonBay Communities’s dividend payout ratio is presently 86.94%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 target price for the company. in a research note on Tuesday, January 20th. UBS Group cut their target price on shares of AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Scotiabank cut their target price on shares of AvalonBay Communities from $193.00 to $190.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 4th. Piper Sandler cut their target price on shares of AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating for the company in a research note on Monday, February 9th. Finally, Barclays cut their target price on shares of AvalonBay Communities from $217.00 to $202.00 and set an “overweight” rating for the company in a research note on Friday, March 6th. Four equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, AvalonBay Communities currently has an average rating of “Hold” and an average target price of $197.00.

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.