Kentucky Retirement Systems Insurance Trust Fund Purchases 94 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of AvalonBay Communities, Inc. (NYSE:AVBGet Rating) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,733 shares of the real estate investment trust’s stock after purchasing an additional 94 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in AvalonBay Communities were worth $943,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVB. Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in AvalonBay Communities in the fourth quarter worth $25,000. Danda Trouve Investment Management Inc. bought a new stake in shares of AvalonBay Communities in the third quarter worth about $28,000. Jones Financial Companies Lllp bought a new position in shares of AvalonBay Communities during the third quarter worth about $33,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of AvalonBay Communities by 240.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 160 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 113 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new position in shares of AvalonBay Communities during the third quarter worth about $38,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Shares of NYSE:AVB traded up $3.99 during trading on Tuesday, hitting $248.04. 3,384 shares of the company were exchanged, compared to its average volume of 702,066. The company has a market cap of $34.68 billion, a PE ratio of 33.94, a P/E/G ratio of 5.61 and a beta of 0.93. The stock has a 50 day moving average of $243.98 and a 200 day moving average of $242.20. AvalonBay Communities, Inc. has a 52-week low of $186.61 and a 52-week high of $259.05. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.57.

AvalonBay Communities (NYSE:AVBGet Rating) last issued its quarterly earnings data on Wednesday, February 2nd. The real estate investment trust reported $2.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $1.40. AvalonBay Communities had a return on equity of 9.28% and a net margin of 43.76%. During the same period in the prior year, the firm earned $2.02 EPS. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 9.56 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 31st were paid a $1.59 dividend. The ex-dividend date was Wednesday, March 30th. This represents a $6.36 dividend on an annualized basis and a yield of 2.56%. AvalonBay Communities’s dividend payout ratio is presently 88.46%.

Several brokerages recently commented on AVB. StockNews.com began coverage on AvalonBay Communities in a research report on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley increased their price target on AvalonBay Communities from $265.00 to $271.00 and gave the company an “overweight” rating in a research report on Friday, April 8th. KeyCorp increased their price target on AvalonBay Communities from $255.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, January 13th. Deutsche Bank Aktiengesellschaft reduced their price target on AvalonBay Communities from $285.00 to $272.00 and set a “buy” rating for the company in a research report on Thursday, March 24th. Finally, Royal Bank of Canada increased their price target on AvalonBay Communities from $251.00 to $260.00 and gave the company a “sector perform” rating in a research report on Monday, February 7th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Buy” and an average price target of $263.40.

AvalonBay Communities Profile (Get Rating)

As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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