Sumitomo Mitsui Trust Group Inc. Has $142.74 Million Stake in AvalonBay Communities, Inc. $AVB

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 738,916 shares of the real estate investment trust’s stock after purchasing an additional 15,514 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.52% of AvalonBay Communities worth $142,736,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Mather Group LLC. acquired a new stake in AvalonBay Communities during the 3rd quarter worth approximately $30,000. Clearstead Trust LLC raised its holdings in shares of AvalonBay Communities by 62.0% during the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 62 shares during the period. Headlands Technologies LLC bought a new stake in AvalonBay Communities in the 2nd quarter valued at $36,000. Sound Income Strategies LLC lifted its position in AvalonBay Communities by 76.4% in the 2nd quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 81 shares in the last quarter. Finally, Hilltop National Bank acquired a new position in AvalonBay Communities in the 2nd quarter worth $58,000. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Trading Up 0.2%

Shares of AvalonBay Communities stock opened at $178.69 on Wednesday. The stock has a market cap of $25.30 billion, a P/E ratio of 21.82, a P/E/G ratio of 3.03 and a beta of 0.75. 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 12-month low of $166.73 and a 12-month high of $230.21. The business’s 50 day moving average is $179.67 and its 200-day moving average is $187.85.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.81 by ($0.06). AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.72%. The firm had revenue of $766.80 million during the quarter, compared to the consensus estimate of $766.22 million. During the same period in the prior year, the business posted $2.74 earnings per share. Equities research analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently commented on AVB. Evercore ISI restated an “in-line” rating and issued a $214.00 price target on shares of AvalonBay Communities in a report on Monday, November 3rd. Wells Fargo & Company decreased their price objective on AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Barclays boosted their target price on AvalonBay Communities from $216.00 to $217.00 and gave the company an “overweight” rating in a research note on Tuesday. UBS Group reduced their price target on AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Finally, Colliers Securities reiterated a “neutral” rating and issued a $195.00 price objective (down from $200.00) on shares of AvalonBay Communities in a report on Thursday, December 4th. Six research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $205.89.

About AvalonBay Communities

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.