Resona Asset Management Co. Ltd. Takes Position in AvalonBay Communities, Inc. (NYSE:AVB)

Resona Asset Management Co. Ltd. purchased a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 78,568 shares of the real estate investment trust's stock, valued at approximately $17,352,000. Resona Asset Management Co. Ltd. owned about 0.06% of AvalonBay Communities as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC bought a new stake in AvalonBay Communities during the fourth quarter worth approximately $36,000. Crowley Wealth Management Inc. acquired a new stake in shares of AvalonBay Communities in the fourth quarter worth $44,000. Generali Asset Management SPA SGR bought a new stake in shares of AvalonBay Communities during the 4th quarter worth $66,000. Catalyst Capital Advisors LLC grew its stake in AvalonBay Communities by 312.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust's stock valued at $80,000 after buying an additional 275 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in AvalonBay Communities by 42.6% in the 4th quarter. Loomis Sayles & Co. L P now owns 442 shares of the real estate investment trust's stock worth $97,000 after acquiring an additional 132 shares during the period. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Trading Down 1.2 %

AVB traded down $2.31 during mid-day trading on Friday, hitting $191.29. The stock had a trading volume of 283,692 shares, compared to its average volume of 689,714. AvalonBay Communities, Inc. has a 1-year low of $177.40 and a 1-year high of $239.29. The firm has a market capitalization of $27.23 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. The stock's fifty day simple moving average is $213.58 and its 200-day simple moving average is $220.11.

Remove Ads

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. As a group, research analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $1.75 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a yield of 3.66%. This is a positive change from AvalonBay Communities's previous quarterly dividend of $1.70. AvalonBay Communities's payout ratio is presently 92.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada raised their price target on AvalonBay Communities from $226.00 to $229.00 and gave the company a "sector perform" rating in a research report on Friday, February 7th. Barclays decreased their target price on AvalonBay Communities from $230.00 to $226.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 19th. Morgan Stanley downgraded shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $236.00 to $223.00 in a research note on Friday, January 24th. Zelman & Associates upgraded shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research report on Thursday, February 13th. Finally, Evercore ISI boosted their price target on shares of AvalonBay Communities from $230.00 to $240.00 and gave the company an "in-line" rating in a research report on Monday, February 10th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, AvalonBay Communities currently has an average rating of "Moderate Buy" and an average price target of $237.40.

AvalonBay Communities Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.