Resona Asset Management Co. Ltd. Acquires 5,062 Shares of AvalonBay Communities, Inc. $AVB

Resona Asset Management Co. Ltd. boosted its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 6.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 85,121 shares of the real estate investment trust’s stock after acquiring an additional 5,062 shares during the period. Resona Asset Management Co. Ltd.’s holdings in AvalonBay Communities were worth $16,468,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Mather Group LLC. bought a new stake in shares of AvalonBay Communities in the third quarter worth approximately $30,000. Clearstead Trust LLC boosted its holdings in AvalonBay Communities by 62.0% in the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 62 shares during the last quarter. Headlands Technologies LLC bought a new stake in AvalonBay Communities in the 2nd quarter worth approximately $36,000. Sound Income Strategies LLC raised its stake in AvalonBay Communities by 76.4% during the 2nd quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 81 shares during the last quarter. Finally, Hilltop National Bank purchased a new stake in AvalonBay Communities during the 2nd quarter valued at $58,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AVB opened at $178.76 on Monday. The business has a 50-day simple moving average of $180.04 and a two-hundred day simple moving average of $186.55. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.72. AvalonBay Communities, Inc. has a 52 week low of $166.73 and a 52 week high of $230.21. The stock has a market cap of $25.31 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 3.06 and a beta of 0.75.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). The company had revenue of $766.80 million for the quarter, compared to the consensus estimate of $766.22 million. AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.72%. During the same quarter last year, the firm posted $2.74 earnings per share. On average, analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a $1.75 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.9%. AvalonBay Communities’s dividend payout ratio is 85.47%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AVB shares. UBS Group dropped their price target on AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Colliers Securities reissued a “neutral” rating and issued a $195.00 target price (down from $200.00) on shares of AvalonBay Communities in a research report on Thursday, December 4th. Weiss Ratings restated a “hold (c)” rating on shares of AvalonBay Communities in a research note on Friday, January 9th. Barclays upped their price target on shares of AvalonBay Communities from $216.00 to $217.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. Finally, Wall Street Zen raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Sunday. Six research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $203.50.

AvalonBay Communities 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.