Sumitomo Mitsui DS Asset Management Company Ltd Increases Stake in AvalonBay Communities, Inc. $AVB

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd has increased its stake in AvalonBay Communities, Inc. by 2.9%, owning a total of 49,878 shares valued at approximately $10.15 million.
• Wall Street analysts have adjusted their ratings and target prices for AvalonBay Communities, with ratings ranging from "sell" to "neutral," and an average price target currently set at $218.42.
• AvalonBay Communities announced a quarterly dividend of $1.75 per share, translating to an annualized dividend of $7.00 and a yield of 3.6%.

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 2.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 49,878 shares of the real estate investment trust's stock after buying an additional 1,402 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in AvalonBay Communities were worth $10,150,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in AVB. Nuveen LLC purchased a new position in shares of AvalonBay Communities in the 1st quarter valued at about $280,226,000. GAMMA Investing LLC boosted its stake in shares of AvalonBay Communities by 21,024.3% in the 1st quarter. GAMMA Investing LLC now owns 550,500 shares of the real estate investment trust's stock valued at $118,148,000 after buying an additional 547,894 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of AvalonBay Communities by 7.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,520,036 shares of the real estate investment trust's stock valued at $1,184,712,000 after buying an additional 367,853 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in AvalonBay Communities during the fourth quarter worth approximately $78,759,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in AvalonBay Communities during the fourth quarter worth approximately $59,023,000. Hedge funds and other institutional investors own 92.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen cut AvalonBay Communities from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Royal Bank Of Canada decreased their target price on AvalonBay Communities from $216.00 to $211.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. Barclays decreased their target price on AvalonBay Communities from $241.00 to $228.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 12th. UBS Group decreased their target price on AvalonBay Communities from $238.00 to $216.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Finally, Piper Sandler restated a "neutral" rating and set a $200.00 target price (down previously from $255.00) on shares of AvalonBay Communities in a research note on Monday, August 4th. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $218.42.

AvalonBay Communities Trading Up 0.6%

AVB opened at $193.75 on Friday. The firm has a market cap of $27.59 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 2.77 and a beta of 0.87. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29. The business's 50 day moving average is $193.98 and its two-hundred day moving average is $201.87. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.82 EPS for the quarter, topping the consensus estimate of $2.80 by $0.02. The company had revenue of $689.90 million for the quarter, compared to analyst estimates of $759.08 million. AvalonBay Communities had a return on equity of 9.70% and a net margin of 38.91%.During the same quarter in the previous year, the company posted $2.77 earnings per share. AvalonBay Communities has set its FY 2025 guidance at 11.190-11.590 EPS. Q3 2025 guidance at 2.750-2.850 EPS. On average, research analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $1.75 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.6%. AvalonBay Communities's payout ratio is presently 86.21%.

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.

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