Teacher Retirement System of Texas reduced its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 16.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,665 shares of the real estate investment trust’s stock after selling 9,024 shares during the quarter. Teacher Retirement System of Texas’ holdings in AvalonBay Communities were worth $10,343,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of AVB. Advisory Services Network LLC raised its stake in AvalonBay Communities by 3.4% in the 3rd quarter. Advisory Services Network LLC now owns 1,484 shares of the real estate investment trust’s stock valued at $329,000 after acquiring an additional 49 shares during the period. Heritage Wealth Advisors increased its holdings in shares of AvalonBay Communities by 1.8% in the third quarter. Heritage Wealth Advisors now owns 2,872 shares of the real estate investment trust’s stock valued at $637,000 after purchasing an additional 51 shares during the last quarter. Allworth Financial LP lifted its stake in shares of AvalonBay Communities by 23.8% during the 3rd quarter. Allworth Financial LP now owns 276 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 53 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of AvalonBay Communities by 26.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 294 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 61 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its holdings in shares of AvalonBay Communities by 0.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 19,529 shares of the real estate investment trust’s stock worth $4,328,000 after buying an additional 64 shares during the period. Institutional investors own 86.56% of the company’s stock.
AVB has been the subject of several research reports. JPMorgan Chase & Co. restated a “hold” rating on shares of AvalonBay Communities in a research report on Sunday, December 5th. The Goldman Sachs Group assumed coverage on AvalonBay Communities in a research note on Thursday, September 23rd. They issued a “buy” rating and a $257.00 price target for the company. Mizuho increased their price objective on AvalonBay Communities from $231.00 to $251.00 and gave the stock a “buy” rating in a research report on Wednesday, September 29th. BMO Capital Markets raised shares of AvalonBay Communities from a “market perform” rating to an “outperform” rating and set a $285.00 target price for the company in a research report on Thursday, December 9th. Finally, KeyCorp lifted their price objective on shares of AvalonBay Communities from $255.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Hold” and a consensus price target of $254.59.
AVB stock opened at $248.68 on Friday. The firm has a 50-day moving average price of $245.14 and a 200-day moving average price of $232.61. AvalonBay Communities, Inc. has a 12 month low of $159.68 and a 12 month high of $257.52. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $34.75 billion, a P/E ratio of 34.40, a price-to-earnings-growth ratio of 6.31 and a beta of 0.94.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Tuesday, October 26th. The real estate investment trust reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by ($1.43). AvalonBay Communities had a net margin of 44.91% and a return on equity of 9.37%. During the same quarter in the prior year, the company posted $2.06 earnings per share. As a group, equities analysts predict that AvalonBay Communities, Inc. will post 8.22 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 18th. Investors of record on Friday, December 31st will be issued a dividend of $1.59 per share. This is an increase from AvalonBay Communities’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, December 30th. This represents a $6.36 annualized dividend and a dividend yield of 2.56%. AvalonBay Communities’s dividend payout ratio (DPR) is 87.97%.
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: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.
Recommended Story: Google Finance
Want to see what other hedge funds are holding AVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AvalonBay Communities, Inc. (NYSE:AVB).
Receive News & Ratings for AvalonBay Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities and related companies with MarketBeat.com's FREE daily email newsletter.