Nordea Investment Management AB Increases Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Nordea Investment Management AB lifted its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 40.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 314,110 shares of the real estate investment trust's stock after purchasing an additional 90,808 shares during the quarter. Nordea Investment Management AB owned 0.22% of AvalonBay Communities worth $69,148,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AVB. RPg Family Wealth Advisory LLC bought a new stake in AvalonBay Communities in the third quarter worth $26,000. Brooklyn Investment Group purchased a new position in shares of AvalonBay Communities during the 3rd quarter worth about $39,000. Mather Group LLC. grew its holdings in AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 56 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in AvalonBay Communities in the 3rd quarter worth about $51,000. Finally, Global X Japan Co. Ltd. bought a new stake in AvalonBay Communities in the second quarter worth about $70,000. Institutional investors own 92.61% of the company's stock.

Insider Buying and Selling

In related news, Director Timothy J. Naughton sold 23,697 shares of the firm's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total value of $5,532,538.59. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by corporate insiders.

AvalonBay Communities Stock Up 0.5 %

Shares of NYSE AVB traded up $1.07 during midday trading on Wednesday, hitting $212.30. 472,856 shares of the company's stock were exchanged, compared to its average volume of 470,070. The firm's fifty day simple moving average is $225.95 and its 200-day simple moving average is $220.20. The company has a market cap of $30.20 billion, a PE ratio of 29.04, a P/E/G ratio of 3.30 and a beta of 0.99. AvalonBay Communities, Inc. has a twelve month low of $169.37 and a twelve month high of $239.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64.

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 (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.10). The firm 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 period in the previous year, the business posted $2.66 EPS. Research analysts predict that AvalonBay Communities, Inc. will post 11.03 EPS 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. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.70 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.20%. AvalonBay Communities's dividend payout ratio (DPR) is 93.02%.

Analysts Set New Price Targets

A number of research analysts have recently commented on AVB shares. Deutsche Bank Aktiengesellschaft upped their target price on AvalonBay Communities from $206.00 to $249.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Barclays initiated coverage on AvalonBay Communities in a research note on Tuesday, December 17th. They issued an "equal weight" rating and a $243.00 target price on the stock. Evercore ISI boosted their target price on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. JPMorgan Chase & Co. raised shares of AvalonBay Communities from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $247.00 to $262.00 in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada lowered their price objective on shares of AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating for the company in a research report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, AvalonBay Communities has a consensus rating of "Moderate Buy" and a consensus price target of $234.53.

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.