California State Teachers Retirement System Has $50.46 Million Holdings in AvalonBay Communities, Inc. (AVB)

California State Teachers Retirement System cut its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 262,553 shares of the real estate investment trust’s stock after selling 19,035 shares during the quarter. California State Teachers Retirement System owned approximately 0.19% of AvalonBay Communities worth $50,455,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in AvalonBay Communities by 0.7% in the second quarter. Vanguard Group Inc. now owns 22,015,933 shares of the real estate investment trust’s stock valued at $4,230,802,000 after acquiring an additional 158,436 shares during the period. BlackRock Inc. lifted its holdings in AvalonBay Communities by 1.1% in the second quarter. BlackRock Inc. now owns 14,559,192 shares of the real estate investment trust’s stock valued at $2,797,838,000 after acquiring an additional 161,167 shares during the period. FMR LLC lifted its holdings in AvalonBay Communities by 22.2% in the second quarter. FMR LLC now owns 5,341,390 shares of the real estate investment trust’s stock valued at $1,026,454,000 after acquiring an additional 969,095 shares during the period. Principal Financial Group Inc. lifted its holdings in AvalonBay Communities by 0.9% in the second quarter. Principal Financial Group Inc. now owns 2,793,421 shares of the real estate investment trust’s stock valued at $536,811,000 after acquiring an additional 25,486 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in AvalonBay Communities by 7.3% in the second quarter. Daiwa Securities Group Inc. now owns 2,774,022 shares of the real estate investment trust’s stock valued at $533,084,000 after acquiring an additional 188,396 shares during the period. 97.52% of the stock is owned by institutional investors.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.05). The firm had revenue of $530.51 million for the quarter, compared to analyst estimates of $529.48 million. AvalonBay Communities had a return on equity of 9.88% and a net margin of 47.90%. During the same period in the prior year, the firm posted $2.03 earnings per share.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $1.42 per share. The ex-dividend date is Thursday, September 28th. This represents a $5.68 annualized dividend and a yield of 3.16%. AvalonBay Communities’s dividend payout ratio is presently 78.13%.

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A number of research analysts have issued reports on the company. Royal Bank Of Canada reissued a “buy” rating and issued a $203.00 price target on shares of AvalonBay Communities in a report on Sunday, July 16th. Argus assumed coverage on AvalonBay Communities in a report on Thursday, June 22nd. They issued a “buy” rating and a $220.00 price target for the company. BidaskClub raised AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $196.00 target price on shares of AvalonBay Communities in a research note on Tuesday, July 4th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $191.00 target price on shares of AvalonBay Communities in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. AvalonBay Communities currently has an average rating of “Hold” and an average target price of $196.00.

AvalonBay Communities Profile

AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.

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

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