Public Employees Retirement System of Ohio Purchases New Position in AvalonBay Communities, Inc. (NYSE:AVB)

Public Employees Retirement System of Ohio purchased a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 268,321 shares of the real estate investment trust's stock, valued at approximately $59,023,000. Public Employees Retirement System of Ohio owned approximately 0.19% of AvalonBay Communities at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Ancora Advisors LLC raised its holdings in shares of AvalonBay Communities by 1,666.7% during the fourth quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 150 shares during the period. Whipplewood Advisors LLC bought a new stake in AvalonBay Communities in the 4th quarter valued at about $36,000. Crowley Wealth Management Inc. bought a new position in AvalonBay Communities in the 4th quarter worth about $44,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of AvalonBay Communities during the fourth quarter valued at approximately $53,000. Finally, Continuum Advisory LLC boosted its position in shares of AvalonBay Communities by 12,200.0% during the fourth quarter. Continuum Advisory LLC now owns 246 shares of the real estate investment trust's stock worth $54,000 after buying an additional 244 shares during the period. 92.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on AVB. Scotiabank raised their price target on AvalonBay Communities from $241.00 to $251.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Piper Sandler cut their target price on AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Morgan Stanley boosted their price objective on AvalonBay Communities from $226.00 to $228.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 15th. Evercore ISI raised their target price on AvalonBay Communities from $230.00 to $240.00 and gave the company an "in-line" rating in a research note on Monday, February 10th. Finally, Mizuho lowered their price objective on shares of AvalonBay Communities from $238.00 to $213.00 and set an "outperform" rating on the stock in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $237.86.

AvalonBay Communities Stock Performance

AvalonBay Communities stock traded down $1.74 on Friday, hitting $198.13. The company's stock had a trading volume of 882,094 shares, compared to its average volume of 711,072. The company has a fifty day moving average price of $205.10 and a 200-day moving average price of $216.00. The firm has a market cap of $28.21 billion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. AvalonBay Communities, Inc. has a one year low of $180.40 and a one year high of $239.29. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68.

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, topping the consensus estimate of $2.80 by $0.03. The firm had revenue of $693.43 million during the quarter, compared to analyst estimates of $744.61 million. AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. During the same period in the prior year, the company posted $2.70 earnings per share. On average, equities analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $1.75 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.53%. AvalonBay Communities's payout ratio is 87.17%.

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.