New York State Teachers Retirement System Has $24.89 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Posted by Defense World Staff on Apr 12th, 2023

New York State Teachers Retirement System raised its position in AvalonBay Communities, Inc. (NYSE:AVB – Get Rating) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,119 shares of the real estate investment trust’s stock after buying an additional 4,043 shares during the quarter. New York State Teachers Retirement System owned 0.11% of AvalonBay Communities worth $24,893,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Parkside Financial Bank & Trust lifted its position in AvalonBay Communities by 100.0% during the third quarter. Parkside Financial Bank & Trust now owns 144 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 72 shares during the period. Adirondack Retirement Specialists Inc. bought a new stake in shares of AvalonBay Communities during the 3rd quarter valued at about $38,000. IFP Advisors Inc grew its holdings in AvalonBay Communities by 51.9% in the third quarter. IFP Advisors Inc now owns 243 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 83 shares during the period. CVA Family Office LLC increased its stake in AvalonBay Communities by 1,333.3% during the 3rd quarter. CVA Family Office LLC now owns 215 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 200 shares in the last quarter. Finally, Ronald Blue Trust Inc. increased its stake in AvalonBay Communities by 72.1% in the 3rd quarter. Ronald Blue Trust Inc. now owns 296 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 124 shares during the last quarter. Institutional investors and hedge funds own 87.30% of the company’s stock.

AvalonBay Communities Trading Up 1.0 %

AVB opened at $170.30 on Wednesday. The stock has a market cap of $23.83 billion, a PE ratio of 21.00, a PEG ratio of 3.09 and a beta of 0.92. The business has a 50 day moving average of $171.06 and a 200-day moving average of $170.66. AvalonBay Communities, Inc. has a 52 week low of $153.07 and a 52 week high of $258.81. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.74.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be given a dividend of $1.65 per share. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.59. This represents a $6.60 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Thursday, March 30th. AvalonBay Communities’s dividend payout ratio (DPR) is 81.38%.

Wall Street Analyst Weigh In

AVB has been the subject of several analyst reports. Wells Fargo & Company assumed coverage on shares of AvalonBay Communities in a report on Wednesday, March 29th. They issued an “overweight” rating and a $184.00 price objective for the company. Truist Financial upgraded shares of AvalonBay Communities from a “hold” rating to a “buy” rating and raised their price objective for the company from $186.00 to $190.00 in a research report on Tuesday, January 17th. Royal Bank of Canada raised their price target on AvalonBay Communities from $186.00 to $189.00 and gave the company a “sector perform” rating in a research report on Friday, February 10th. Morgan Stanley increased their price objective on AvalonBay Communities from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 1st. Finally, StockNews.com began coverage on AvalonBay Communities in a report on Thursday, March 16th. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $201.21.

About AvalonBay Communities

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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.