Employees Retirement System of Texas Has $18.48 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Employees Retirement System of Texas lifted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 9.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 84,000 shares of the real estate investment trust's stock after purchasing an additional 7,300 shares during the quarter. Employees Retirement System of Texas owned about 0.06% of AvalonBay Communities worth $18,477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Polymer Capital Management US LLC acquired a new position in shares of AvalonBay Communities during the fourth quarter valued at $826,000. Quadrant Capital Group LLC boosted its stake in AvalonBay Communities by 8.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,111 shares of the real estate investment trust's stock valued at $244,000 after purchasing an additional 83 shares during the period. Dynamic Technology Lab Private Ltd grew its position in AvalonBay Communities by 121.8% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 2,125 shares of the real estate investment trust's stock worth $467,000 after purchasing an additional 1,167 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of AvalonBay Communities in the fourth quarter valued at approximately $17,352,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of AvalonBay Communities during the fourth quarter worth approximately $441,000. Institutional investors own 92.61% of the company's stock.

AvalonBay Communities Stock Performance

AvalonBay Communities stock traded down $0.64 on Friday, reaching $192.95. 1,234,629 shares of the stock were exchanged, compared to its average volume of 691,755. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a twelve month low of $177.40 and a twelve month high of $239.29. The firm has a fifty day moving average price of $213.02 and a two-hundred day moving average price of $219.85. The stock has a market cap of $27.47 billion, a PE ratio of 25.42, a PEG ratio of 3.11 and a beta of 0.86.

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AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. Sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $1.75 per share. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Monday, March 31st. AvalonBay Communities's dividend payout ratio is presently 92.23%.

Wall Street Analyst Weigh In

Several equities analysts have commented on AVB shares. Zelman & Associates raised shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research note on Thursday, February 13th. BMO Capital Markets cut shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 target price for the company. in a report on Friday, April 4th. Royal Bank of Canada lifted their price target on AvalonBay Communities from $226.00 to $229.00 and gave the company a "sector perform" rating in a report on Friday, February 7th. JPMorgan Chase & Co. upgraded AvalonBay Communities from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $247.00 to $262.00 in a research report on Tuesday, December 17th. Finally, Evercore ISI upped their target price on AvalonBay Communities from $230.00 to $240.00 and gave the company an "in-line" rating in a report on Monday, February 10th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $237.47.

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.