Nordea Investment Management AB Has $69.15 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Nordea Investment Management AB lifted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 40.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 314,110 shares of the real estate investment trust’s stock after purchasing an additional 90,808 shares during the quarter. Nordea Investment Management AB owned approximately 0.22% of AvalonBay Communities worth $69,148,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp increased its position in 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 worth $2,097,971,000 after buying an additional 196,938 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of AvalonBay Communities by 1.4% during 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 acquiring an additional 55,588 shares during the last quarter. Geode Capital Management LLC raised its stake 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 acquiring an additional 27,988 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in 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 worth $504,658,000 after purchasing an additional 78,800 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in AvalonBay Communities by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock worth $429,145,000 after purchasing an additional 13,631 shares during the period. Institutional investors own 92.61% of the company’s stock.

Insider Buying and Selling at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 23,697 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the completion of the sale, the director now directly owns 87,239 shares of the company’s stock, valued at $20,367,689.33. This trade represents a 21.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $247.00 to $262.00 in a research report on Tuesday, December 17th. Barclays assumed coverage on shares of AvalonBay Communities in a report on Tuesday, December 17th. They set an “equal weight” rating and a $243.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Scotiabank decreased their target price on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Finally, Mizuho raised AvalonBay Communities from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $239.00 to $242.00 in a research report on Monday. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, AvalonBay Communities presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.53.

AvalonBay Communities Stock Down 0.7 %

NYSE AVB opened at $211.38 on Wednesday. AvalonBay Communities, Inc. has a 1-year low of $169.37 and a 1-year high of $239.29. The company has a market capitalization of $30.07 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 3.30 and a beta of 0.99. The stock’s 50 day moving average is $225.95 and its two-hundred day moving average is $220.20. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The company had revenue of $734.31 million during the quarter, compared to analyst estimates of $731.67 million. During the same period in the prior year, the firm earned $2.66 EPS. Equities analysts forecast that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio is currently 93.02%.

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.