Daiwa Securities Group Inc. Grows Position in AvalonBay Communities, Inc. (NYSE:AVB)

Daiwa Securities Group Inc. lifted its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 1.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 365,384 shares of the real estate investment trust’s stock after buying an additional 5,910 shares during the period. Daiwa Securities Group Inc. owned about 0.26% of AvalonBay Communities worth $82,303,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in shares of AvalonBay Communities in the second quarter worth about $32,000. Versant Capital Management Inc grew its position in shares of AvalonBay Communities by 1,877.8% during the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 169 shares in the last quarter. BROOKFIELD Corp ON bought a new position in shares of AvalonBay Communities during the 1st quarter worth $39,000. Mather Group LLC. increased its stake in shares of AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 56 shares during the period. Finally, Prospera Private Wealth LLC bought a new stake in shares of AvalonBay Communities in the third quarter valued at about $51,000. 92.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AVB has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Piper Sandler lifted their price target on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada decreased their price objective on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $226.88.

AvalonBay Communities Stock Up 0.6 %

NYSE:AVB opened at $231.94 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. AvalonBay Communities, Inc. has a twelve month low of $169.37 and a twelve month high of $236.26. The company has a market cap of $32.99 billion, a PE ratio of 31.73, a P/E/G ratio of 3.37 and a beta of 0.97. The company’s 50 day moving average is $226.36 and its two-hundred day moving average is $213.89.

AvalonBay Communities (NYSE:AVB) last announced 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 net margin of 36.20% and a return on equity of 8.84%. During the same period last year, the firm earned $2.66 earnings per share. Analysts anticipate that AvalonBay Communities, Inc. will post 11.03 EPS for the current year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio is presently 93.02%.

Insider Transactions at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 23,697 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 87,239 shares in the company, valued at $20,367,689.33. This represents a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.42% of the company’s stock.

AvalonBay Communities Profile

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.