California State Teachers Retirement System Boosts Stock Holdings in AvalonBay Communities, Inc. $AVB

California State Teachers Retirement System lifted its position in AvalonBay Communities, Inc. (NYSE:AVB) by 18,233.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,028,433 shares of the real estate investment trust’s stock after acquiring an additional 41,799,183 shares during the quarter. California State Teachers Retirement System owned approximately 29.43% of AvalonBay Communities worth $7,930,345,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Reflection Asset Management purchased a new stake in AvalonBay Communities in the 4th quarter valued at about $25,000. Clearstead Trust LLC boosted its stake in shares of AvalonBay Communities by 56.0% in the 1st quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 56 shares during the last quarter. Zions Bancorporation National Association UT boosted its stake in shares of AvalonBay Communities by 300.0% in the 4th quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 120 shares during the last quarter. BOKF NA bought a new position in shares of AvalonBay Communities in the third quarter valued at approximately $31,000. Finally, Elyxium Wealth LLC bought a new position in shares of AvalonBay Communities in the fourth quarter valued at approximately $32,000. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Stock Performance

NYSE:AVB opened at $184.06 on Wednesday. AvalonBay Communities, Inc. has a twelve month low of $160.10 and a twelve month high of $198.63. The stock has a market cap of $26.28 billion, a P/E ratio of 30.08, a PEG ratio of 2.98 and a beta of 0.76. 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 business’s 50-day moving average price is $187.73 and its two-hundred day moving average price is $181.16.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.The company had revenue of $777.77 million during the quarter, compared to analysts’ expectations of $772.37 million. During the same period in the prior year, the firm earned $2.82 EPS. As a group, equities analysts predict that AvalonBay Communities, Inc. will post 11.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AVB shares. Wolfe Research upgraded 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. Barclays increased their target price on shares of AvalonBay Communities from $205.00 to $206.00 and gave the company an “equal weight” rating in a research report on Monday, August 17th. Scotiabank raised their target price on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 9th. Truist Financial boosted their target price on AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Finally, Piper Sandler increased their price target on AvalonBay Communities from $195.00 to $210.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $196.87.

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.