State of Alaska Department of Revenue Has $18.51 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

State of Alaska Department of Revenue lifted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,242 shares of the real estate investment trust's stock after purchasing an additional 1,499 shares during the period. State of Alaska Department of Revenue owned 0.06% of AvalonBay Communities worth $18,508,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of AvalonBay Communities during the 1st quarter worth about $33,000. Ancora Advisors LLC boosted its holdings in shares of AvalonBay Communities by 1,666.7% during the 4th quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after buying an additional 150 shares during the period. Whipplewood Advisors LLC bought a new stake in shares of AvalonBay Communities during the 4th quarter worth about $36,000. Crowley Wealth Management Inc. bought a new stake in shares of AvalonBay Communities during the 4th quarter worth about $44,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of AvalonBay Communities during the 4th quarter worth about $53,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVB has been the subject of several research analyst reports. Mizuho reduced their target price on shares of AvalonBay Communities from $238.00 to $213.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. Morgan Stanley lifted their target price on shares of AvalonBay Communities from $226.00 to $228.00 and gave the stock an "equal weight" rating in a report on Thursday, May 15th. Scotiabank reduced their target price on shares of AvalonBay Communities from $251.00 to $236.00 and set a "sector perform" rating for the company in a report on Friday, June 13th. Piper Sandler reduced their target price on shares of AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, Wall Street Zen raised shares of AvalonBay Communities from a "sell" rating to a "hold" rating in a report on Saturday. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $235.86.

Insider Transactions at AvalonBay Communities

In related news, CFO Kevin P. O'shea sold 6,000 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $207.57, for a total transaction of $1,245,420.00. Following the completion of the transaction, the chief financial officer now directly owns 22,782 shares in the company, valued at $4,728,859.74. This represents a 20.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Edward M. Schulman sold 5,945 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the transaction, the executive vice president now owns 17,617 shares of the company's stock, valued at approximately $3,623,288.39. This represents a 25.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by insiders.

AvalonBay Communities Stock Performance

NYSE AVB traded up $0.40 during trading on Friday, reaching $206.92. The company's stock had a trading volume of 1,264,783 shares, compared to its average volume of 730,782. The firm has a 50 day moving average price of $205.36 and a 200 day moving average price of $212.43. AvalonBay Communities, Inc. has a 12 month low of $180.40 and a 12 month high of $239.29. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $29.46 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 2.82 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share for the quarter, topping analysts' consensus estimates of $2.80 by $0.03. AvalonBay Communities had a net margin of 38.86% and a return on equity of 9.65%. The company had revenue of $693.43 million during the quarter, compared to the consensus estimate of $744.61 million. During the same quarter in the prior year, the firm posted $2.70 EPS. As a group, equities analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Monday, June 30th. AvalonBay Communities's dividend payout ratio (DPR) is presently 87.17%.

AvalonBay Communities 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.