Nomura Asset Management Co. Ltd. Has $49.98 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Nomura Asset Management Co. Ltd. grew its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 221,905 shares of the real estate investment trust’s stock after purchasing an additional 4,019 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in AvalonBay Communities were worth $49,984,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Segment Wealth Management LLC raised its holdings in AvalonBay Communities by 4.6% during the third quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 45 shares in the last quarter. SYSTM Wealth Solutions LLC raised its stake in shares of AvalonBay Communities by 2.7% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock valued at $386,000 after acquiring an additional 49 shares in the last quarter. Patrick M Sweeney & Associates Inc. lifted its holdings in AvalonBay Communities by 4.1% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock worth $286,000 after purchasing an additional 50 shares during the last quarter. Tectonic Advisors LLC boosted its position in AvalonBay Communities by 2.7% during the third quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock worth $436,000 after purchasing an additional 50 shares during the period. Finally, OneDigital Investment Advisors LLC grew its holdings in AvalonBay Communities by 4.6% during the third quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $226.96 on Tuesday. The business’s 50 day moving average is $226.79 and its 200-day moving average is $216.66. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $32.28 billion, a PE ratio of 31.05, a PEG ratio of 3.31 and a beta of 0.98. AvalonBay Communities, Inc. has a 1-year low of $169.37 and a 1-year high of $239.29.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results 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). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The business had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. During the same period last year, the firm earned $2.66 EPS. Sell-side analysts predict that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio is 93.02%.

Wall Street Analysts Forecast Growth

AVB has been the subject of a number of analyst reports. Truist Financial boosted their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Wells Fargo & Company upped their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and a consensus target price of $228.67.

Insider Transactions at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 23,697 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.42% of the stock is currently owned by insiders.

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.