New York State Teachers Retirement System Cuts Stake in AvalonBay Communities, Inc. (NYSE:AVB)

New York State Teachers Retirement System decreased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 7.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,237 shares of the real estate investment trust's stock after selling 9,134 shares during the quarter. New York State Teachers Retirement System owned 0.08% of AvalonBay Communities worth $24,155,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in AvalonBay Communities in the second quarter worth $32,000. Versant Capital Management Inc boosted its holdings in shares of AvalonBay Communities by 1,877.8% in the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 169 shares in the last quarter. BROOKFIELD Corp ON purchased a new position in shares of AvalonBay Communities in the 1st quarter worth about $39,000. Mather Group LLC. increased its position in shares of AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 56 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of AvalonBay Communities by 38.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust's stock valued at $54,000 after buying an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company's stock.

Insider Activity

In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the business's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the sale, the senior vice president now directly owns 4,383 shares in the company, valued at approximately $908,026.11. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the business's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the sale, the senior vice president now directly owns 4,383 shares in the company, valued at $908,026.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the completion of the transaction, the executive now owns 65,967 shares in the company, valued at $13,780,506.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank of Canada lifted their price target on shares of AvalonBay Communities from $207.00 to $214.00 and gave the stock a "sector perform" rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a "buy" rating in a research note on Tuesday, September 10th. Scotiabank increased their price target on shares of AvalonBay Communities from $229.00 to $244.00 and gave the company a "sector perform" rating in a research report on Monday, September 16th. Zelman & Associates upgraded shares of AvalonBay Communities to a "hold" rating in a research report on Thursday, September 5th. Finally, Wells Fargo & Company increased their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an "overweight" rating in a report on Monday, August 26th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, AvalonBay Communities presently has a consensus rating of "Hold" and an average target price of $225.88.

AvalonBay Communities Stock Down 2.4 %

AVB stock traded down $5.33 during midday trading on Friday, hitting $216.28. The company's stock had a trading volume of 878,504 shares, compared to its average volume of 729,928. The firm's 50-day moving average is $225.66 and its 200-day moving average is $209.28. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. AvalonBay Communities, Inc. has a 12 month low of $164.76 and a 12 month high of $236.26. The company has a market cap of $30.76 billion, a PE ratio of 37.50, a P/E/G ratio of 3.47 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The business had revenue of $726.04 million for the quarter, compared to analysts' expectations of $718.49 million. During the same period last year, the business earned $2.66 earnings per share. On average, equities research analysts forecast that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $1.70 dividend. The ex-dividend date was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.14%. AvalonBay Communities's dividend payout ratio is presently 115.06%.

About AvalonBay Communities

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.