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

Resona Asset Management Co. Ltd. increased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 84,885 shares of the real estate investment trust’s stock after acquiring an additional 3,154 shares during the quarter. Resona Asset Management Co. Ltd. owned about 0.06% of AvalonBay Communities worth $13,748,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of AVB. Abel Hall LLC increased its holdings in shares of AvalonBay Communities by 50.5% during the first quarter. Abel Hall LLC now owns 1,791 shares of the real estate investment trust’s stock worth $293,000 after purchasing an additional 601 shares during the period. HB Wealth Management LLC boosted its stake in shares of AvalonBay Communities by 34.0% in the first quarter. HB Wealth Management LLC now owns 2,872 shares of the real estate investment trust’s stock valued at $469,000 after buying an additional 728 shares during the period. Optas LLC acquired a new stake in AvalonBay Communities during the first quarter worth approximately $377,000. Leonteq Securities AG acquired a new stake in AvalonBay Communities during the first quarter worth approximately $55,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in AvalonBay Communities by 58.2% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 47,421 shares of the real estate investment trust’s stock worth $7,746,000 after buying an additional 17,450 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AVB shares. Barclays dropped their price objective on AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Jefferies Financial Group upgraded AvalonBay Communities to a “hold” rating in a research report on Friday, June 26th. Wolfe Research raised shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price objective for the company in a research report on Monday, June 1st. Morgan Stanley reiterated an “equal weight” rating and set a $203.00 price objective (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of AvalonBay Communities in a report on Monday. Four equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $195.67.

AvalonBay Communities Price Performance

Shares of AVB stock traded up $2.42 during trading hours on Friday, reaching $191.88. The company’s stock had a trading volume of 924,303 shares, compared to its average volume of 1,044,461. AvalonBay Communities, Inc. has a fifty-two week low of $160.10 and a fifty-two week high of $205.00. The firm’s 50 day simple moving average is $186.13 and its 200-day simple moving average is $178.79. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $26.69 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 3.30 and a beta of 0.77.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 EPS 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 for the quarter, compared to analyst estimates of $768.80 million. During the same period last year, the firm posted $2.83 EPS. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.28 earnings per share for the current year.

AvalonBay Communities Announces Dividend

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

AvalonBay Communities Company 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.