Tokio Marine Asset Management Co. Ltd. Boosts Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Tokio Marine Asset Management Co. Ltd. grew its position in AvalonBay Communities, Inc. (NYSE:AVB) by 15.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,118 shares of the real estate investment trust’s stock after buying an additional 553 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in AvalonBay Communities were worth $928,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Opal Wealth Advisors LLC acquired a new position in shares of AvalonBay Communities in the second quarter valued at about $32,000. Versant Capital Management Inc increased its position in shares of AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 169 shares in the last quarter. BROOKFIELD Corp ON acquired a new position in AvalonBay Communities during the first quarter worth about $39,000. Mather Group LLC. boosted its stake in AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 56 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in AvalonBay Communities by 38.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 73 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

Insider Buying and Selling

In other news, Director Timothy J. Naughton sold 23,697 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total value of $5,532,538.59. Following the transaction, the director now owns 87,239 shares in the company, valued at $20,367,689.33. The trade was a 21.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is owned by insiders.

AvalonBay Communities Stock Up 0.6 %

Shares of AvalonBay Communities stock opened at $229.41 on Friday. The company has a quick ratio of 2.03, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock has a market cap of $32.63 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 3.40 and a beta of 0.97. The business has a fifty day simple moving average of $226.26 and a 200 day simple moving average of $212.16. AvalonBay Communities, Inc. has a 12 month low of $166.60 and a 12 month high of $236.26.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The company had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. During the same quarter in the previous year, the business earned $2.66 EPS. Research analysts predict that AvalonBay Communities, Inc. will post 11.04 EPS for the current year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s payout ratio is presently 93.02%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Evercore ISI boosted their price target on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft increased their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Scotiabank decreased their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research note on Thursday. Finally, BNP Paribas began coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $226.88.

About AvalonBay Communities

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.