California State Teachers Retirement System Buys 41,799,183 Shares of AvalonBay Communities, Inc. $AVB

California State Teachers Retirement System grew its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 18,233.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,028,433 shares of the real estate investment trust’s stock after purchasing an additional 41,799,183 shares during the quarter. California State Teachers Retirement System owned approximately 0.29% of AvalonBay Communities worth $7,930,345,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Clearstead Trust LLC increased its holdings in AvalonBay Communities by 56.0% during the 1st quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 56 shares during the period. Red Spruce Capital LLC lifted its position in shares of AvalonBay Communities by 0.8% in the 2nd quarter. Red Spruce Capital LLC now owns 7,985 shares of the real estate investment trust’s stock worth $1,507,000 after purchasing an additional 60 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of AvalonBay Communities by 1.8% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock worth $649,000 after purchasing an additional 60 shares during the period. Arbor Capital Management Inc. ADV boosted its stake in shares of AvalonBay Communities by 1.4% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 6,540 shares of the real estate investment trust’s stock valued at $1,090,000 after purchasing an additional 90 shares in the last quarter. Finally, Phoenix Financial Ltd. boosted its stake in shares of AvalonBay Communities by 5.7% during the 4th quarter. Phoenix Financial Ltd. now owns 1,713 shares of the real estate investment trust’s stock valued at $311,000 after purchasing an additional 92 shares in the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barclays increased their price target on shares of AvalonBay Communities from $205.00 to $206.00 and gave the stock an “equal weight” rating in a research note on Monday, August 17th. UBS Group cut their price objective on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Jefferies Financial Group upgraded AvalonBay Communities to a “hold” rating in a report on Wednesday, July 22nd. Weiss Ratings lowered AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Finally, Wolfe Research raised AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price for the company in a research report on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities presently has a consensus rating of “Hold” and an average price target of $196.87.

AvalonBay Communities Price Performance

NYSE:AVB opened at $184.06 on Wednesday. The firm’s 50-day moving average price is $187.73 and its 200-day moving average price is $181.16. The company has a market capitalization of $26.28 billion, a PE ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.54 and a quick ratio of 0.54. AvalonBay Communities, Inc. has a 1-year low of $160.10 and a 1-year high of $198.63.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.12). AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.The business had revenue of $777.77 million during the quarter, compared to the consensus estimate of $772.37 million. During the same quarter in the previous year, the business earned $2.82 earnings per share. On average, equities analysts predict that AvalonBay Communities, Inc. will post 11.33 EPS for the current fiscal year.

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.