Nomura Asset Management Co. Ltd. Boosts Stake in AvalonBay Communities, Inc. $AVB

Nomura Asset Management Co. Ltd. raised its position in AvalonBay Communities, Inc. (NYSE:AVB) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 258,889 shares of the real estate investment trust’s stock after purchasing an additional 5,676 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.18% of AvalonBay Communities worth $46,939,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BOKF NA purchased a new stake in AvalonBay Communities in the 3rd quarter worth about $31,000. Elyxium Wealth LLC bought a new position in AvalonBay Communities in the 4th quarter worth about $32,000. AlphaQuest LLC bought a new position in AvalonBay Communities in the 3rd quarter worth about $33,000. Headlands Technologies LLC bought a new position in AvalonBay Communities in the 2nd quarter worth about $36,000. Finally, Fulcrum Asset Management LLP bought a new position in AvalonBay Communities in the 3rd quarter worth about $37,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Price Performance

NYSE AVB opened at $182.68 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.62 and a current ratio of 0.62. The firm’s 50 day moving average price is $175.35 and its 200-day moving average price is $177.10. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $209.86. The company has a market cap of $25.41 billion, a PE ratio of 26.48, a P/E/G ratio of 3.17 and a beta of 0.78.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. The business had revenue of $770.28 million for the quarter, compared to the consensus estimate of $768.80 million. During the same quarter in the prior year, the business posted $2.83 earnings per share. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AVB has been the topic of a number of research analyst reports. Morgan Stanley restated an “equal weight” rating and issued a $203.00 target price (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. Barclays dropped their target price on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Piper Sandler upped their target price on shares of AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday. UBS Group dropped their target price on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AvalonBay Communities in a research note on Wednesday, April 8th. Four analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and an average price target of $197.73.

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.