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

Daiwa Securities Group Inc. raised its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 77,931 shares of the real estate investment trust’s stock after buying an additional 2,925 shares during the period. Daiwa Securities Group Inc. owned about 0.06% of AvalonBay Communities worth $14,130,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Wyoming bought a new position in shares of AvalonBay Communities during the 4th quarter valued at $411,000. CIBC Asset Management Inc lifted its holdings in shares of AvalonBay Communities by 23.2% during the 4th quarter. CIBC Asset Management Inc now owns 72,073 shares of the real estate investment trust’s stock valued at $13,068,000 after buying an additional 13,553 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of AvalonBay Communities by 19.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,509,731 shares of the real estate investment trust’s stock valued at $273,729,000 after buying an additional 241,310 shares during the period. Natixis Advisors LLC lifted its holdings in shares of AvalonBay Communities by 0.5% during the 4th quarter. Natixis Advisors LLC now owns 140,527 shares of the real estate investment trust’s stock valued at $25,479,000 after buying an additional 675 shares during the period. Finally, New Mexico Educational Retirement Board lifted its holdings in shares of AvalonBay Communities by 1.6% during the 4th quarter. New Mexico Educational Retirement Board now owns 6,527 shares of the real estate investment trust’s stock valued at $1,183,000 after buying an additional 100 shares during the period. 92.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on AVB. UBS Group lowered their price target on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Scotiabank decreased their price target on shares of AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 14th. Truist Financial decreased their price target on shares of AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, Piper Sandler increased their price target on shares of AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AvalonBay Communities presently has an average rating of “Hold” and an average target price of $198.44.

AvalonBay Communities Stock Performance

Shares of NYSE:AVB opened at $189.72 on Friday. AvalonBay Communities, Inc. has a 52 week low of $160.10 and a 52 week high of $209.86. The stock has a market capitalization of $26.39 billion, a P/E ratio of 27.50, a PEG ratio of 3.30 and a beta of 0.78. The firm has a fifty day simple moving average of $177.59 and a two-hundred day simple moving average of $177.38. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.80.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 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 business had revenue of $770.28 million during the quarter, compared to analysts’ expectations of $768.80 million. During the same period in the previous year, the business earned $2.83 earnings per share. On average, analysts expect that AvalonBay Communities, Inc. will post 11.31 earnings per share for the current fiscal year.

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.