Resona Asset Management Co. Ltd. Has $13.75 Million Stock Position in AvalonBay Communities, Inc. $AVB

Resona Asset Management Co. Ltd. grew its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 84,885 shares of the real estate investment trust’s stock after buying an additional 3,154 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in AvalonBay Communities were worth $13,748,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of AvalonBay Communities by 1.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock valued at $649,000 after acquiring an additional 60 shares in the last quarter. Keybank National Association OH grew its position in AvalonBay Communities by 2.6% during the 4th quarter. Keybank National Association OH now owns 2,458 shares of the real estate investment trust’s stock worth $446,000 after acquiring an additional 62 shares during the last quarter. Phoenix Financial Ltd. increased its holdings in AvalonBay Communities by 5.7% in the 4th quarter. Phoenix Financial Ltd. now owns 1,713 shares of the real estate investment trust’s stock worth $311,000 after purchasing an additional 92 shares in the last quarter. New Mexico Educational Retirement Board boosted its position in AvalonBay Communities by 1.6% during the 4th quarter. New Mexico Educational Retirement Board now owns 6,527 shares of the real estate investment trust’s stock worth $1,183,000 after buying an additional 100 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of AvalonBay Communities by 0.3% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,971 shares of the real estate investment trust’s stock worth $5,434,000 after purchasing an additional 100 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AVB shares. Morgan Stanley reiterated an “equal weight” rating and issued a $203.00 target price (down from $208.00) on shares of AvalonBay Communities in a report on Thursday, March 26th. Piper Sandler increased their price objective on shares of AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Wall Street Zen upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. UBS Group decreased their target price on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Finally, Truist Financial raised their price objective on AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Four equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $195.67.

AvalonBay Communities Stock Up 1.3%

Shares of NYSE:AVB traded up $2.42 during midday trading on Friday, hitting $191.88. 924,303 shares of the company’s stock were exchanged, compared to its average volume of 1,044,461. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a 50 day moving average price of $186.13 and a 200-day moving average price of $178.79. The company has a market cap of $26.69 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 3.30 and a beta of 0.77. AvalonBay Communities, Inc. has a 12 month low of $160.10 and a 12 month high of $205.00.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.The business had revenue of $770.28 million during the quarter, compared to analyst estimates of $768.80 million. During the same quarter in the prior year, the company earned $2.83 EPS. On average, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.28 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. AvalonBay Communities’s dividend payout ratio is 103.19%.

AvalonBay Communities 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.