Nordea Investment Management AB Buys 8,536 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Nordea Investment Management AB lifted its holdings in AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 4.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 222,263 shares of the real estate investment trust’s stock after buying an additional 8,536 shares during the quarter. Nordea Investment Management AB owned about 0.16% of AvalonBay Communities worth $41,330,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AVB. Tobam grew its position in shares of AvalonBay Communities by 28.2% during the 1st quarter. Tobam now owns 892 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 196 shares during the period. Janney Montgomery Scott LLC grew its position in shares of AvalonBay Communities by 9.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 48,152 shares of the real estate investment trust’s stock worth $8,935,000 after buying an additional 4,157 shares during the period. BNP Paribas Financial Markets grew its position in shares of AvalonBay Communities by 86.7% during the 1st quarter. BNP Paribas Financial Markets now owns 234,743 shares of the real estate investment trust’s stock worth $43,559,000 after buying an additional 109,028 shares during the period. Wambolt & Associates LLC lifted its holdings in shares of AvalonBay Communities by 70.6% during the 1st quarter. Wambolt & Associates LLC now owns 5,794 shares of the real estate investment trust’s stock valued at $1,051,000 after purchasing an additional 2,397 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of AvalonBay Communities by 12.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,019 shares of the real estate investment trust’s stock valued at $375,000 after purchasing an additional 217 shares in the last quarter. 92.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AVB has been the topic of several recent analyst reports. Piper Sandler lifted their price objective on AvalonBay Communities from $207.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Truist Financial boosted their target price on AvalonBay Communities from $207.00 to $213.00 and gave the company a “hold” rating in a research note on Monday, June 24th. Scotiabank boosted their target price on AvalonBay Communities from $193.00 to $213.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 14th. Wells Fargo & Company boosted their target price on AvalonBay Communities from $210.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. upped their price objective on AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a research note on Monday, June 17th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $206.89.

Read Our Latest Analysis on AVB

AvalonBay Communities Stock Performance

AVB opened at $203.13 on Tuesday. The firm has a market cap of $28.88 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 2.96 and a beta of 0.96. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $208.45. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The business’s fifty day moving average is $198.27 and its 200-day moving average is $187.51.

AvalonBay Communities (NYSE:AVBGet Free Report) last released its earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($1.42). The company had revenue of $712.86 million for the quarter, compared to analyst estimates of $706.61 million. AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. During the same period last year, the company posted $2.57 earnings per share. Sell-side analysts expect that AvalonBay Communities, Inc. will post 10.92 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Friday, June 28th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

About AvalonBay Communities

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

Receive News & Ratings for AvalonBay Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities and related companies with MarketBeat.com's FREE daily email newsletter.