Public Employees Retirement System of Ohio acquired a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 204,900 shares of the real estate investment trust’s stock, valued at approximately $38,663,000. Public Employees Retirement System of Ohio owned about 0.14% of AvalonBay Communities as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Reflection Asset Management bought a new position in shares of AvalonBay Communities in the fourth quarter worth approximately $25,000. Clearstead Trust LLC grew its holdings in shares of AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 56 shares during the last quarter. Zions Bancorporation National Association UT increased its position in shares of AvalonBay Communities by 300.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares in the last quarter. BOKF NA bought a new stake in shares of AvalonBay Communities during the third quarter valued at approximately $31,000. Finally, Headlands Technologies LLC purchased a new position in AvalonBay Communities in the 2nd quarter worth approximately $36,000. 92.61% of the stock is currently owned by institutional investors.
AvalonBay Communities Price Performance
Shares of AvalonBay Communities stock opened at $184.06 on Friday. AvalonBay Communities, Inc. has a twelve month low of $160.10 and a twelve month high of $198.63. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74. The company’s 50 day moving average is $188.02 and its 200 day moving average is $180.77. The company has a market cap of $26.28 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 2.98 and a beta of 0.76.
AvalonBay Communities Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio (DPR) is 116.34%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on AVB shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price objective on shares of AvalonBay Communities in a research report on Wednesday, August 19th. Piper Sandler lifted their target price on AvalonBay Communities from $195.00 to $210.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Wall Street Zen upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Wolfe Research raised AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price target on the stock in a report on Monday, June 1st. Finally, Barclays increased their price objective on AvalonBay Communities from $205.00 to $206.00 and gave the company an “equal weight” rating in a research report on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $196.87.
Get Our Latest Research Report on AvalonBay Communities
About AvalonBay Communities
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.
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