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

Tokio Marine Asset Management Co. Ltd. trimmed its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,063 shares of the real estate investment trust’s stock after selling 55 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in AvalonBay Communities were worth $894,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. State Street Corp lifted its position in shares of AvalonBay Communities by 2.2% during the third quarter. State Street Corp now owns 9,245,028 shares of the real estate investment trust’s stock valued at $2,097,971,000 after buying an additional 196,938 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of AvalonBay Communities by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust’s stock valued at $914,627,000 after purchasing an additional 55,588 shares during the last quarter. Geode Capital Management LLC raised its position in shares of AvalonBay Communities by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,585,802 shares of the real estate investment trust’s stock valued at $805,113,000 after purchasing an additional 27,988 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of AvalonBay Communities by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,240,436 shares of the real estate investment trust’s stock valued at $504,658,000 after purchasing an additional 78,800 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of AvalonBay Communities by 678.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust’s stock valued at $386,315,000 after purchasing an additional 1,494,872 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 23,697 shares of AvalonBay Communities stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total value of $5,532,538.59. Following the sale, the director now owns 87,239 shares of the company’s stock, valued at approximately $20,367,689.33. This trade represents a 21.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AVB has been the subject of several research analyst reports. Scotiabank decreased their price objective on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Mizuho raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $239.00 to $242.00 in a research report on Monday, January 6th. Royal Bank of Canada decreased their price objective on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Barclays reduced their price target on shares of AvalonBay Communities from $243.00 to $230.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Finally, Morgan Stanley lowered shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $236.00 to $223.00 in a research report on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $234.60.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $220.46 on Tuesday. The stock has a market capitalization of $31.36 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 3.09 and a beta of 0.99. AvalonBay Communities, Inc. has a 12 month low of $169.37 and a 12 month high of $239.29. The firm’s 50 day simple moving average is $221.93 and its 200-day simple moving average is $221.79. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64.

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

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $1.70 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a yield of 3.08%. AvalonBay Communities’s dividend payout ratio is currently 93.02%.

About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.