AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. boosted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 221,905 shares of the real estate investment trust's stock after buying an additional 4,019 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.16% of AvalonBay Communities worth $49,984,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AVB. RPg Family Wealth Advisory LLC bought a new position in shares of AvalonBay Communities in the third quarter worth approximately $26,000. Brooklyn Investment Group bought a new position in shares of AvalonBay Communities during the third quarter valued at $39,000. Mather Group LLC. increased its holdings in AvalonBay Communities by 38.6% in the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust's stock worth $45,000 after buying an additional 56 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in AvalonBay Communities in the 3rd quarter worth about $51,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in AvalonBay Communities by 731.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 291 shares of the real estate investment trust's stock valued at $60,000 after acquiring an additional 256 shares during the period. Hedge funds and other institutional investors own 92.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AVB shares. Evercore ISI increased their price objective on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. BNP Paribas initiated coverage on AvalonBay Communities in a report on Wednesday, September 11th. They issued an "outperform" rating and a $250.00 price objective for the company. Royal Bank of Canada lowered their target price on AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating on the stock in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft boosted their price target on AvalonBay Communities from $206.00 to $249.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company raised their price objective on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an "overweight" rating in a report on Monday, August 26th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $228.67.

Insiders Place Their Bets

In related news, Director Timothy J. Naughton sold 23,697 shares of the firm's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total value of $5,532,538.59. Following the completion of the transaction, the director now owns 87,239 shares in the company, valued at $20,367,689.33. This trade represents a 21.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.42% of the company's stock.

AvalonBay Communities Stock Down 0.9 %

Shares of AVB stock traded down $2.05 on Tuesday, hitting $224.95. The stock had a trading volume of 620,077 shares, compared to its average volume of 713,768. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The company has a market cap of $32.00 billion, a PE ratio of 30.79, a P/E/G ratio of 3.31 and a beta of 0.98. The business has a 50 day moving average price of $226.79 and a 200 day moving average price of $216.66. AvalonBay Communities, Inc. has a one year low of $169.37 and a one year high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing analysts' consensus estimates of $2.71 by ($0.10). The company had revenue of $734.31 million for the quarter, compared to analysts' expectations of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same quarter last year, the company earned $2.66 earnings per share. Research analysts anticipate that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.02%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities's dividend payout ratio is currently 93.02%.

About AvalonBay Communities

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. 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 regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.