Nissay Asset Management Corp Japan ADV Increases Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Nissay Asset Management Corp Japan ADV boosted its position in AvalonBay Communities, Inc. (NYSE:AVB) by 2.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 37,454 shares of the real estate investment trust’s stock after purchasing an additional 761 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in AvalonBay Communities were worth $8,284,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in AvalonBay Communities during the 4th quarter valued at approximately $1,499,050,000. Price T Rowe Associates Inc. MD increased its stake in shares of AvalonBay Communities by 35.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust’s stock worth $1,133,328,000 after acquiring an additional 1,336,698 shares during the period. Principal Financial Group Inc. raised its holdings in shares of AvalonBay Communities by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 4,590,539 shares of the real estate investment trust’s stock worth $1,009,781,000 after purchasing an additional 27,629 shares during the last quarter. JPMorgan Chase & Co. lifted its position in AvalonBay Communities by 1.4% during the third 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 period. Finally, Geode Capital Management LLC boosted its holdings in AvalonBay Communities by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 3,693,457 shares of the real estate investment trust’s stock valued at $810,470,000 after purchasing an additional 107,655 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Up 1.9%

AVB opened at $205.52 on Friday. AvalonBay Communities, Inc. has a twelve month low of $180.40 and a twelve month high of $239.29. The company has a 50-day moving average price of $205.83 and a 200 day moving average price of $216.92. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. The company has a market cap of $29.26 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.03. AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. The firm had revenue of $693.43 million for the quarter, compared to analyst estimates of $744.61 million. During the same period in the previous year, the company posted $2.70 earnings per share. Sell-side analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AVB has been the subject of a number of recent research reports. BMO Capital Markets lowered AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price objective for the company. in a research note on Friday, April 4th. Zelman & Associates upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Royal Bank of Canada dropped their price objective on shares of AvalonBay Communities from $223.00 to $220.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 8th. Piper Sandler decreased their target price on shares of AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Finally, Truist Financial raised their price target on shares of AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $239.93.

AvalonBay Communities Company Profile

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.