Teacher Retirement System of Texas Has $18.35 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Teacher Retirement System of Texas increased its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 0.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,428 shares of the real estate investment trust’s stock after acquiring an additional 124 shares during the period. Teacher Retirement System of Texas’ holdings in AvalonBay Communities were worth $18,352,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. State Street Corp lifted its stake in AvalonBay Communities by 2.2% in the 3rd quarter. State Street Corp now owns 9,245,028 shares of the real estate investment trust’s stock worth $2,097,971,000 after acquiring an additional 196,938 shares in the last quarter. Principal Financial Group Inc. lifted its stake in AvalonBay Communities by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 4,590,539 shares of the real estate investment trust’s stock worth $1,009,781,000 after acquiring an additional 27,629 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in AvalonBay Communities by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust’s stock worth $914,627,000 after acquiring an additional 55,588 shares in the last quarter. Geode Capital Management LLC lifted its stake in AvalonBay Communities by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,585,802 shares of the real estate investment trust’s stock worth $805,113,000 after acquiring an additional 27,988 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in AvalonBay Communities by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,266,701 shares of the real estate investment trust’s stock worth $498,606,000 after acquiring an additional 26,265 shares in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AVB. Barclays reduced their price objective on AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Morgan Stanley downgraded AvalonBay Communities from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. Truist Financial raised their price target on AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. Finally, Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.64.

AvalonBay Communities Stock Performance

Shares of NYSE AVB opened at $209.49 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a market cap of $29.80 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of 3.11 and a beta of 1.00. The business’s 50-day simple moving average is $217.90 and its 200-day simple moving average is $222.93. AvalonBay Communities, Inc. has a 52 week low of $177.40 and a 52 week high of $239.29.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. As a group, equities research analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $1.75 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a yield of 3.34%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio (DPR) is 92.23%.

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.