AvalonBay Communities, Inc. $AVB Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 34.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,008 shares of the real estate investment trust’s stock after selling 5,298 shares during the quarter. Texas Permanent School Fund Corp’s holdings in AvalonBay Communities were worth $2,037,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Clearstead Trust LLC boosted its position in shares of AvalonBay Communities by 62.0% in the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 62 shares during the last quarter. Headlands Technologies LLC purchased a new position in AvalonBay Communities during the second quarter worth approximately $36,000. Sound Income Strategies LLC boosted its holdings in shares of AvalonBay Communities by 76.4% in the 2nd quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 81 shares during the last quarter. Capital Analysts LLC boosted its holdings in shares of AvalonBay Communities by 48.5% in the 1st quarter. Capital Analysts LLC now owns 245 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 80 shares during the last quarter. Finally, Hilltop National Bank purchased a new stake in shares of AvalonBay Communities during the 2nd quarter valued at $58,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Price Performance

AVB stock opened at $179.11 on Monday. The firm has a market cap of $25.36 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 3.14 and a beta of 0.74. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 0.67. AvalonBay Communities, Inc. has a 1 year low of $166.73 and a 1 year high of $230.21. The stock has a 50-day simple moving average of $180.21 and a 200-day simple moving average of $190.74.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). AvalonBay Communities had a return on equity of 9.72% and a net margin of 38.78%.The company had revenue of $766.80 million during the quarter, compared to analysts’ expectations of $766.22 million. During the same quarter in the prior year, the company earned $2.74 EPS. On average, equities analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $1.75 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $7.00 annualized dividend and a dividend yield of 3.9%. AvalonBay Communities’s dividend payout ratio is 85.47%.

Analysts Set New Price Targets

AVB has been the topic of several research reports. Morgan Stanley cut their target price on AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. UBS Group cut their price objective on AvalonBay Communities from $216.00 to $192.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Cantor Fitzgerald began coverage on AvalonBay Communities in a report on Wednesday, October 1st. They set a “neutral” rating and a $205.00 target price for the company. Scotiabank cut their price target on shares of AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. Finally, Colliers Securities reaffirmed a “neutral” rating and set a $195.00 price target (down from $200.00) on shares of AvalonBay Communities in a research report on Thursday, December 4th. Six investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $205.89.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.