Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $15.95 Million Stake in AvalonBay Communities, Inc. $AVB

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 23.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,648 shares of the real estate investment trust’s stock after purchasing an additional 18,240 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in AvalonBay Communities were worth $15,951,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wall Street Zen raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Piper Sandler lifted their price target on AvalonBay Communities from $183.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Scotiabank lifted their price target on AvalonBay Communities from $187.00 to $195.00 and gave the company a “sector perform” rating in a research note on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of AvalonBay Communities in a report on Monday, July 6th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $203.00 price objective (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. Four investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $195.67.

AvalonBay Communities Trading Up 0.0%

NYSE:AVB opened at $191.88 on Monday. AvalonBay Communities, Inc. has a 52 week low of $160.10 and a 52 week high of $205.00. The firm has a 50-day moving average price of $186.13 and a two-hundred day moving average price of $178.76. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $26.69 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). The business had revenue of $770.28 million during the quarter, compared to analysts’ expectations of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same quarter in the previous year, the firm earned $2.83 EPS. On average, equities analysts expect that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $7.12 annualized dividend and a yield of 3.7%. AvalonBay Communities’s payout ratio is currently 103.19%.

AvalonBay Communities Company 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.