Tokio Marine Asset Management Co. Ltd. Acquires 105 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,479 shares of the real estate investment trust’s stock after acquiring an additional 105 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in AvalonBay Communities were worth $651,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AVB. Castleview Partners LLC boosted its stake in shares of AvalonBay Communities by 1,542.9% during the 3rd quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 216 shares during the period. Arlington Trust Co LLC bought a new position in shares of AvalonBay Communities during the 4th quarter worth approximately $45,000. Lindbrook Capital LLC boosted its stake in shares of AvalonBay Communities by 53.7% during the 3rd quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 109 shares during the period. Sandy Spring Bank boosted its stake in shares of AvalonBay Communities by 4,428.6% during the 3rd quarter. Sandy Spring Bank now owns 317 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 310 shares during the period. Finally, Bear Mountain Capital Inc. bought a new position in shares of AvalonBay Communities during the 4th quarter worth approximately $66,000. 92.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares in the company, valued at approximately $4,054,985.70. The sale was disclosed in a filing with the SEC, which is available through this link. In other AvalonBay Communities news, CFO Kevin P. O’shea sold 5,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the completion of the transaction, the chief financial officer now owns 31,308 shares of the company’s stock, valued at approximately $5,812,330.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the transaction, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $191.45 on Friday. The stock has a market capitalization of $27.22 billion, a PE ratio of 28.49, a P/E/G ratio of 3.56 and a beta of 0.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.44 and a quick ratio of 1.44. The business has a fifty day moving average price of $182.66 and a two-hundred day moving average price of $178.67. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $198.65.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share for the quarter, missing the consensus estimate of $2.73 by ($1.03). AvalonBay Communities had a return on equity of 8.10% and a net margin of 34.05%. The business had revenue of $704.71 million for the quarter, compared to the consensus estimate of $701.67 million. During the same quarter in the prior year, the company earned $2.59 earnings per share. As a group, equities analysts predict that AvalonBay Communities, Inc. will post 10.8 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $1.70 per share. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. This represents a $6.80 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Wednesday, March 27th. AvalonBay Communities’s dividend payout ratio is currently 101.19%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays upgraded AvalonBay Communities from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $194.00 to $204.00 in a research note on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft assumed coverage on AvalonBay Communities in a report on Tuesday, January 30th. They set a “buy” rating and a $206.00 price target for the company. Truist Financial dropped their price target on AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating for the company in a report on Tuesday, April 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $185.00 price target on shares of AvalonBay Communities in a report on Friday, February 2nd. Finally, Wolfe Research cut AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $196.78.

AvalonBay Communities Company Profile

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.