Nomura Asset Management Co. Ltd. grew its position in AvalonBay Communities Inc (NYSE:AVB) by 6.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,864 shares of the real estate investment trust’s stock after purchasing an additional 9,979 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.11% of AvalonBay Communities worth $22,939,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in AVB. Sowell Financial Services LLC raised its position in shares of AvalonBay Communities by 970.0% in the first quarter. Sowell Financial Services LLC now owns 214 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 194 shares during the period. Ellevest Inc. grew its stake in shares of AvalonBay Communities by 67.3% in the first quarter. Ellevest Inc. now owns 261 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 105 shares during the last quarter. Arden Trust Co acquired a new stake in shares of AvalonBay Communities in the first quarter worth $56,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of AvalonBay Communities in the first quarter worth $57,000. Finally, Muzinich & Co. Inc. grew its stake in shares of AvalonBay Communities by 18.8% in the fourth quarter. Muzinich & Co. Inc. now owns 291 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 46 shares during the last quarter. 90.91% of the stock is currently owned by institutional investors.
AVB stock traded down $8.17 during mid-day trading on Thursday, reaching $163.18. The company’s stock had a trading volume of 554,443 shares, compared to its average volume of 1,143,776. The company has a market cap of $24.19 billion, a price-to-earnings ratio of 30.60, a price-to-earnings-growth ratio of 5.63 and a beta of 0.82. The business’s 50 day moving average price is $158.94 and its 200 day moving average price is $189.11. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.76. AvalonBay Communities Inc has a 12 month low of $118.17 and a 12 month high of $229.40.
AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $1.19 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.19. The business had revenue of $547.51 million during the quarter, compared to the consensus estimate of $596.58 million. AvalonBay Communities had a return on equity of 7.21% and a net margin of 33.20%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share. As a group, equities analysts expect that AvalonBay Communities Inc will post 9.04 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $1.59 dividend. The ex-dividend date is Monday, June 29th. This represents a $6.36 dividend on an annualized basis and a yield of 3.90%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 68.09%.
AVB has been the topic of several research analyst reports. SunTrust Banks lowered their price objective on shares of AvalonBay Communities from $216.00 to $193.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Deutsche Bank lowered their price objective on shares of AvalonBay Communities from $221.00 to $180.00 and set a “hold” rating on the stock in a research note on Thursday, April 16th. Morgan Stanley lowered their price objective on shares of AvalonBay Communities from $226.00 to $143.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Piper Sandler lifted their price target on shares of AvalonBay Communities from $140.00 to $145.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 26th. Finally, Zacks Investment Research downgraded shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $171.00 price target on the stock. in a research note on Friday, April 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. AvalonBay Communities presently has a consensus rating of “Hold” and a consensus target price of $198.71.
About AvalonBay Communities
As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.
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