Louisiana State Employees Retirement System Invests $1.18 Million in AvalonBay Communities, Inc. $AVB

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

A number of other institutional investors and hedge funds have also recently modified their holdings of AVB. Reflection Asset Management purchased a new stake in AvalonBay Communities during the fourth quarter valued at $25,000. Zions Bancorporation National Association UT grew its stake in shares of AvalonBay Communities by 300.0% in the 4th quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 120 shares in the last quarter. BOKF NA purchased a new position in shares of AvalonBay Communities in the 3rd quarter worth $31,000. Elyxium Wealth LLC bought a new stake in shares of AvalonBay Communities in the 4th quarter worth about $32,000. Finally, Headlands Technologies LLC bought a new stake in shares of AvalonBay Communities in the 2nd quarter worth about $36,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Price Performance

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 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 50-day moving average price of $184.68 and a 200 day moving average price of $178.34. The stock has a market cap of $26.93 billion, a PE ratio of 28.06, a P/E/G 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). The firm had revenue of $770.28 million during the quarter, compared to analysts’ expectations of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same period last year, the company earned $2.83 earnings per share. Equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current year.

AvalonBay Communities Announces Dividend

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

Analysts Set New Price Targets

AVB has been the subject of a number of analyst reports. Cantor Fitzgerald increased their price target on shares of AvalonBay Communities from $186.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Wolfe Research raised AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price objective on the stock in a research note on Monday, June 1st. Weiss Ratings restated a “hold (c)” rating on shares of AvalonBay Communities in a research report on Wednesday, April 8th. Jefferies Financial Group raised AvalonBay Communities to a “hold” rating in a research note on Friday, June 26th. Finally, Barclays dropped their target price on AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $195.13.

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.