Louisiana State Employees Retirement System Makes New $1.18 Million Investment in AvalonBay Communities, Inc. $AVB

Louisiana State Employees Retirement System purchased a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,200 shares of the real estate investment trust’s stock, valued at approximately $1,176,000.

Other large investors have also recently modified their holdings of the company. Empowered Funds LLC increased its stake in shares of AvalonBay Communities by 5.7% during the first quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock valued at $584,000 after buying an additional 148 shares during the period. Guggenheim Capital LLC lifted its stake in AvalonBay Communities by 2.8% in the second quarter. Guggenheim Capital LLC now owns 4,759 shares of the real estate investment trust’s stock worth $968,000 after acquiring an additional 129 shares during the period. Baird Financial Group Inc. bought a new position in AvalonBay Communities during the 2nd quarter worth about $1,374,000. Cresset Asset Management LLC increased its position in AvalonBay Communities by 14.2% during the 2nd quarter. Cresset Asset Management LLC now owns 2,890 shares of the real estate investment trust’s stock valued at $591,000 after purchasing an additional 360 shares during the period. Finally, Bank of Nova Scotia raised its holdings in shares of AvalonBay Communities by 9.5% in the 2nd quarter. Bank of Nova Scotia now owns 18,854 shares of the real estate investment trust’s stock valued at $3,837,000 after purchasing an additional 1,629 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $193.62 on Friday. AvalonBay Communities, Inc. has a 12-month low of $160.10 and a 12-month high of $205.00. The business’s fifty day simple moving average is $184.68 and its 200-day simple moving average is $178.34. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.80. The company has a market cap of $26.93 billion, a PE ratio of 28.06, a PEG ratio of 3.38 and a beta of 0.77.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.The business had revenue of $770.28 million during the quarter, compared to analyst estimates of $768.80 million. During the same period in the previous year, the business earned $2.83 EPS. Analysts expect that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 103.19%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AVB. Cantor Fitzgerald increased their price objective on shares of AvalonBay Communities from $186.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Piper Sandler increased their target price on AvalonBay Communities from $183.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Wells Fargo & Company cut their price target on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Jefferies Financial Group raised AvalonBay Communities to a “hold” rating in a research report on Friday, June 26th. Four research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $195.13.

About AvalonBay Communities

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.