Daiwa Securities Group Inc. Purchases 2,925 Shares of AvalonBay Communities, Inc. $AVB

Daiwa Securities Group Inc. lifted its position in AvalonBay Communities, Inc. (NYSE:AVB) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,931 shares of the real estate investment trust’s stock after acquiring an additional 2,925 shares during the quarter. Daiwa Securities Group Inc.’s holdings in AvalonBay Communities were worth $14,130,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Metis Global Partners LLC lifted its holdings in shares of AvalonBay Communities by 21.0% in the 3rd quarter. Metis Global Partners LLC now owns 44,760 shares of the real estate investment trust’s stock worth $8,646,000 after acquiring an additional 7,780 shares during the last quarter. Pensionfund PDN bought a new stake in shares of AvalonBay Communities in the 4th quarter worth about $3,648,000. Sun Life Financial Inc. lifted its holdings in shares of AvalonBay Communities by 5.7% in the 3rd quarter. Sun Life Financial Inc. now owns 161,087 shares of the real estate investment trust’s stock worth $31,117,000 after acquiring an additional 8,660 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of AvalonBay Communities by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 444,222 shares of the real estate investment trust’s stock worth $80,449,000 after acquiring an additional 17,352 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of AvalonBay Communities in the 3rd quarter worth about $11,058,000. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

AVB opened at $189.72 on Friday. AvalonBay Communities, Inc. has a 12-month low of $160.10 and a 12-month high of $209.86. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.80. The business’s fifty day simple moving average is $177.59 and its 200-day simple moving average is $177.38. The company has a market capitalization of $26.39 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 3.30 and a beta of 0.78.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results 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 return on equity of 9.56% and a net margin of 37.21%.The firm had revenue of $770.28 million for the quarter, compared to the consensus estimate of $768.80 million. During the same period in the previous year, the company posted $2.83 EPS. On average, equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Scotiabank lowered their target price on shares of AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating for the company in a report on Thursday, May 14th. Wells Fargo & Company lowered their target price on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Citigroup decreased their price objective on shares of AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating for the company in a report on Friday, February 13th. Piper Sandler lifted their price objective on shares of AvalonBay Communities from $183.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Finally, Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, AvalonBay Communities currently has a consensus rating of “Hold” and an average target price of $198.44.

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.