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

Employees Retirement System of Texas raised its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 9.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,000 shares of the real estate investment trust's stock after buying an additional 7,300 shares during the period. Employees Retirement System of Texas owned about 0.06% of AvalonBay Communities worth $18,477,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AVB. JPMorgan Chase & Co. boosted its stake in shares of AvalonBay Communities by 1.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust's stock valued at $914,627,000 after buying an additional 55,588 shares during the period. Atomi Financial Group Inc. boosted its stake in shares of AvalonBay Communities by 10.0% during the 4th quarter. Atomi Financial Group Inc. now owns 1,326 shares of the real estate investment trust's stock valued at $292,000 after buying an additional 121 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of AvalonBay Communities by 2.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 52,224 shares of the real estate investment trust's stock valued at $11,488,000 after buying an additional 1,070 shares during the period. Narwhal Capital Management acquired a new stake in shares of AvalonBay Communities during the 4th quarter valued at $1,229,000. Finally, PFG Investments LLC boosted its stake in shares of AvalonBay Communities by 9.3% during the 4th quarter. PFG Investments LLC now owns 1,199 shares of the real estate investment trust's stock valued at $264,000 after buying an additional 102 shares during the period. Institutional investors and hedge funds own 92.61% of the company's stock.

AvalonBay Communities Stock Performance

AVB traded up $0.39 during trading on Wednesday, hitting $201.85. The stock had a trading volume of 751,983 shares, compared to its average volume of 712,608. The firm has a market cap of $28.74 billion, a PE ratio of 26.59, a P/E/G ratio of 3.11 and a beta of 0.86. 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 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. The company has a 50 day simple moving average of $204.50 and a 200-day simple moving average of $215.56.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.03. AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. The company had revenue of $693.43 million for the quarter, compared to the consensus estimate of $744.61 million. During the same quarter in the previous year, the firm posted $2.70 EPS. Analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $7.00 annualized dividend and a dividend yield of 3.47%. AvalonBay Communities's payout ratio is 87.17%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVB. Piper Sandler decreased their target price on shares of AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Barclays raised their price target on shares of AvalonBay Communities from $227.00 to $240.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Royal Bank of Canada cut their price target on shares of AvalonBay Communities from $223.00 to $220.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. Scotiabank raised their price target on shares of AvalonBay Communities from $241.00 to $251.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Finally, Morgan Stanley raised their price target on shares of AvalonBay Communities from $226.00 to $228.00 and gave the company an "equal weight" rating in a report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $237.86.

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.