Strs Ohio Takes $30.45 Million Position in AvalonBay Communities, Inc. $AVB

Key Points

• Strs Ohio has acquired a new stake in AvalonBay Communities, purchasing 141,892 shares valued at approximately $30.5 million, representing about 0.10% ownership of the company.
• AvalonBay Communities recently reported earnings of $2.82 per share, surpassing analysts' estimates, although revenue fell short of expectations at $689.9 million.
• Major institutional investors hold about 92.61% of AvalonBay's stock, with recent adjustments in ownership from firms like Captrust Financial Advisors and D. E. Shaw & Co..

Strs Ohio acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 141,892 shares of the real estate investment trust's stock, valued at approximately $30,453,000. Strs Ohio owned about 0.10% of AvalonBay Communities at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Proathlete Wealth Management LLC bought a new position in shares of AvalonBay Communities during the first quarter worth about $29,000. Opal Wealth Advisors LLC bought a new position in shares of AvalonBay Communities during the first quarter worth about $33,000. Keystone Global Partners LLC bought a new position in shares of AvalonBay Communities during the first quarter worth about $45,000. Zions Bancorporation National Association UT bought a new stake in AvalonBay Communities in the first quarter worth approximately $50,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in AvalonBay Communities in the fourth quarter worth approximately $53,000. 92.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AVB. Scotiabank lowered their target price on AvalonBay Communities from $236.00 to $226.00 and set a "sector perform" rating for the company in a report on Thursday, August 14th. JPMorgan Chase & Co. reduced their price objective on AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating for the company in a research note on Tuesday, June 17th. Morgan Stanley raised AvalonBay Communities from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $228.00 to $225.00 in a research note on Wednesday, August 13th. UBS Group reduced their price objective on AvalonBay Communities from $238.00 to $216.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Finally, Evercore ISI raised their price objective on AvalonBay Communities from $212.00 to $216.00 and gave the company an "in-line" rating in a research note on Monday. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $218.42.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock traded up $0.76 during trading hours on Wednesday, hitting $193.04. 141,595 shares of the company's stock traded hands, compared to its average volume of 816,258. AvalonBay Communities, Inc. has a 12-month low of $180.40 and a 12-month high of $239.29. The stock has a market capitalization of $27.49 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 2.78 and a beta of 0.87. The company has a fifty day simple moving average of $194.32 and a 200-day simple moving average of $202.18. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.70.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.02. AvalonBay Communities had a return on equity of 9.70% and a net margin of 38.91%.The firm had revenue of $689.90 million during the quarter, compared to analyst estimates of $759.08 million. During the same period last year, the firm posted $2.77 EPS. AvalonBay Communities has set its FY 2025 guidance at 11.190-11.590 EPS. Q3 2025 guidance at 2.750-2.850 EPS. Equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

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.