Nomura Asset Management Co. Ltd. Grows Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Nomura Asset Management Co. Ltd. boosted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 4.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230,701 shares of the real estate investment trust’s stock after acquiring an additional 8,796 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in AvalonBay Communities were worth $50,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Whipplewood Advisors LLC bought a new stake in AvalonBay Communities in the fourth quarter valued at approximately $36,000. Brooklyn Investment Group bought a new stake in AvalonBay Communities during the 3rd quarter valued at $39,000. Crowley Wealth Management Inc. purchased a new stake in AvalonBay Communities during the 4th quarter valued at $44,000. Generali Asset Management SPA SGR purchased a new stake in AvalonBay Communities during the 4th quarter valued at $66,000. Finally, Catalyst Capital Advisors LLC grew its holdings 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 worth $80,000 after acquiring an additional 275 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Trading Up 0.2 %

Shares of NYSE AVB opened at $213.50 on Friday. The stock has a market cap of $30.37 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 3.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. AvalonBay Communities, Inc. has a 1 year low of $177.40 and a 1 year high of $239.29. The firm has a 50-day moving average of $217.50 and a 200 day moving average of $222.49.

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

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $1.75 dividend. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Monday, March 31st. AvalonBay Communities’s dividend payout ratio is currently 92.23%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AVB shares. Royal Bank of Canada upped their price objective on shares of AvalonBay Communities from $226.00 to $229.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and upped their price target for the company from $247.00 to $262.00 in a research report on Tuesday, December 17th. Piper Sandler cut their price objective on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Evercore ISI upped their target price on AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Finally, Zelman & Associates upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, AvalonBay Communities currently has an average rating of “Moderate Buy” and a consensus target price of $238.64.

About AvalonBay Communities

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.