Resona Asset Management Co. Ltd. Acquires 5,062 Shares of AvalonBay Communities, Inc. $AVB

Resona Asset Management Co. Ltd. boosted its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 6.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,121 shares of the real estate investment trust’s stock after acquiring an additional 5,062 shares during the period. Resona Asset Management Co. Ltd. owned 0.06% of AvalonBay Communities worth $16,468,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Metis Global Partners LLC raised its stake in AvalonBay Communities by 13.8% in the second quarter. Metis Global Partners LLC now owns 36,980 shares of the real estate investment trust’s stock worth $7,525,000 after buying an additional 4,473 shares in the last quarter. FORA Capital LLC grew its holdings in shares of AvalonBay Communities by 78.7% during the 2nd quarter. FORA Capital LLC now owns 15,702 shares of the real estate investment trust’s stock worth $3,195,000 after acquiring an additional 6,916 shares during the period. Amundi raised its position in shares of AvalonBay Communities by 17.7% in the 2nd quarter. Amundi now owns 449,348 shares of the real estate investment trust’s stock worth $90,768,000 after acquiring an additional 67,695 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of AvalonBay Communities by 11.3% in the 3rd quarter. Nordea Investment Management AB now owns 426,870 shares of the real estate investment trust’s stock valued at $81,507,000 after purchasing an additional 43,252 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of AvalonBay Communities by 1.5% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 723,402 shares of the real estate investment trust’s stock valued at $147,212,000 after purchasing an additional 10,929 shares during the period. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $178.76 on Monday. AvalonBay Communities, Inc. has a one year low of $166.73 and a one year high of $230.21. The company’s 50-day moving average is $180.04 and its 200 day moving average is $186.55. The company has a market capitalization of $25.31 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 3.06 and a beta of 0.75. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 0.67.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.81 by ($0.06). AvalonBay Communities had a return on equity of 9.72% and a net margin of 38.78%.The firm had revenue of $766.80 million during the quarter, compared to analysts’ expectations of $766.22 million. During the same period last year, the firm posted $2.74 earnings per share. Sell-side analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a $1.75 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $7.00 annualized dividend and a yield of 3.9%. AvalonBay Communities’s dividend payout ratio is 85.47%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AVB. Scotiabank decreased their price objective on AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. Wells Fargo & Company reduced their target price on shares of AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating on the stock in a research report on Monday, November 10th. Barclays lifted their price target on shares of AvalonBay Communities from $216.00 to $217.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. Truist Financial cut their price objective on shares of AvalonBay Communities from $205.00 to $203.00 and set a “buy” rating on the stock in a report on Tuesday, January 20th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $214.00 target price on shares of AvalonBay Communities in a research note on Monday, November 3rd. Six investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, AvalonBay Communities has an average rating of “Hold” and a consensus target price of $203.50.

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.