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

State of Alaska Department of Revenue boosted its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,242 shares of the real estate investment trust's stock after acquiring an additional 1,499 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of AvalonBay Communities worth $18,508,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Great Lakes Retirement Inc. grew its stake in shares of AvalonBay Communities by 3.2% in the 1st quarter. Great Lakes Retirement Inc. now owns 6,354 shares of the real estate investment trust's stock worth $1,375,000 after purchasing an additional 195 shares during the last quarter. Tuttle Capital Management LLC grew its position in AvalonBay Communities by 26.7% in the first quarter. Tuttle Capital Management LLC now owns 2,450 shares of the real estate investment trust's stock worth $526,000 after buying an additional 517 shares during the last quarter. Exchange Traded Concepts LLC grew its position in AvalonBay Communities by 9.0% in the first quarter. Exchange Traded Concepts LLC now owns 2,739 shares of the real estate investment trust's stock worth $588,000 after buying an additional 226 shares during the last quarter. Pacific Sun Financial Corp bought a new position in shares of AvalonBay Communities in the first quarter valued at $257,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of AvalonBay Communities during the 1st quarter valued at $33,000. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Stock Up 0.1%

Shares of NYSE:AVB traded up $0.11 during trading on Wednesday, reaching $206.41. 883,320 shares of the company traded hands, compared to its average volume of 729,549. The firm has a fifty day simple moving average of $204.70 and a 200 day simple moving average of $212.90. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.70. AvalonBay Communities, Inc. has a 1-year low of $180.40 and a 1-year high of $239.29. The firm has a market cap of $29.39 billion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 2.82 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.80 by $0.03. AvalonBay Communities had a return on equity of 9.65% and a net margin of 38.86%. The firm had revenue of $693.43 million during the quarter, compared to analysts' expectations of $744.61 million. During the same quarter last year, the firm earned $2.70 earnings per share. Analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share 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. Investors of record on Monday, June 30th will be paid a $1.75 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $7.00 annualized dividend and a dividend yield of 3.39%. AvalonBay Communities's payout ratio is 87.17%.

Insider Activity at AvalonBay Communities

In related news, CFO Kevin P. O'shea sold 6,000 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $207.57, for a total value of $1,245,420.00. Following the completion of the sale, the chief financial officer now directly owns 22,782 shares in the company, valued at approximately $4,728,859.74. The trade was 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 link. 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 value of $1,222,708.15. Following the sale, the executive vice president now directly owns 17,617 shares of the company's stock, valued at $3,623,288.39. The trade was a 25.23% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Mizuho decreased their target price on AvalonBay Communities from $238.00 to $213.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. Scotiabank decreased their price target on AvalonBay Communities from $251.00 to $236.00 and set a "sector perform" rating for the company in a research report on Friday, June 13th. Piper Sandler cut their price objective on AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Truist Financial upped their price objective on shares of AvalonBay Communities from $229.00 to $230.00 and gave the company a "hold" rating in a research note on Monday, March 10th. Finally, Wall Street Zen downgraded shares of AvalonBay Communities from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $235.86.

About AvalonBay Communities

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.