VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 135,760 AvalonBay Communities, Inc. $AVB

Key Points

• Virginia Retirement Systems acquired 135,760 shares of AvalonBay Communities, Inc. for approximately $27.6 million, increasing their ownership to about 0.10% of the company.
• AvalonBay reported $2.82 earnings per share for the last quarter, surpassing estimates, and declared a quarterly dividend of $1.75, reflecting an annual yield of 3.7%.
• Several institutional investors have significantly increased their stakes in AvalonBay, with notable purchases including $280 million from Nuveen LLC and a 7,782.9% increase by PGGM Investments.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 135,760 shares of the real estate investment trust's stock, valued at approximately $27,627,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.10% of AvalonBay Communities at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AVB. Nuveen LLC bought a new stake in AvalonBay Communities during the first quarter valued at $280,226,000. PGGM Investments increased its stake in AvalonBay Communities by 7,782.9% during the second quarter. PGGM Investments now owns 478,966 shares of the real estate investment trust's stock valued at $97,470,000 after purchasing an additional 472,890 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in AvalonBay Communities by 7.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,520,036 shares of the real estate investment trust's stock valued at $1,184,712,000 after purchasing an additional 367,853 shares during the last quarter. JPMorgan Chase & Co. increased its stake in AvalonBay Communities by 3.9% during the first quarter. JPMorgan Chase & Co. now owns 3,814,430 shares of the real estate investment trust's stock valued at $818,653,000 after purchasing an additional 143,646 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of AvalonBay Communities during the first quarter valued at $30,453,000. Institutional investors own 92.61% of the company's stock.

AvalonBay Communities Stock Performance

AVB stock opened at $186.92 on Monday. The company has a market capitalization of $26.61 billion, a P/E ratio of 23.02, a PEG ratio of 2.70 and a beta of 0.86. The company has a 50-day simple moving average of $191.07 and a 200 day simple moving average of $198.14. AvalonBay Communities, Inc. has a fifty-two week low of $180.40 and a fifty-two week high of $239.29. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

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

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 30th. AvalonBay Communities's dividend payout ratio is presently 86.21%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AVB shares. Barclays boosted their price target on shares of AvalonBay Communities from $228.00 to $229.00 and gave the company an "equal weight" rating in a report on Tuesday, September 30th. Mizuho reissued a "neutral" rating and set a $199.00 price target (down previously from $213.00) on shares of AvalonBay Communities in a report on Thursday, August 14th. UBS Group reduced their price target on shares of AvalonBay Communities from $238.00 to $216.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Truist Financial raised shares of AvalonBay Communities from a "hold" rating to a "buy" rating and reduced their price target for the company from $224.00 to $218.00 in a report on Thursday, September 11th. Finally, Royal Bank Of Canada reduced their price target on shares of AvalonBay Communities from $216.00 to $211.00 and set a "sector perform" rating for the company in a report on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $217.31.

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.

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