Mitsubishi UFJ Asset Management Co. Ltd. Has $47.44 Million Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 15.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 255,663 shares of the real estate investment trust’s stock after acquiring an additional 34,660 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of AvalonBay Communities worth $47,441,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Byrne Asset Management LLC raised its position in shares of AvalonBay Communities by 270.0% in the 1st quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 135 shares in the last quarter. Pinnacle Bancorp Inc. lifted its stake in AvalonBay Communities by 50.0% during the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 75 shares during the last quarter. Arlington Trust Co LLC acquired a new stake in shares of AvalonBay Communities in the 4th quarter valued at $45,000. Bear Mountain Capital Inc. bought a new position in shares of AvalonBay Communities in the 4th quarter valued at $66,000. Finally, Sunbelt Securities Inc. acquired a new stake in AvalonBay Communities in the first quarter valued at about $68,000. 92.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AVB has been the topic of several research reports. Royal Bank of Canada boosted their price target on AvalonBay Communities from $191.00 to $196.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. JPMorgan Chase & Co. upped their target price on AvalonBay Communities from $194.00 to $212.00 and gave the company a “neutral” rating in a report on Monday, June 17th. UBS Group increased their target price on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley boosted their price target on shares of AvalonBay Communities from $203.00 to $209.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Finally, Wells Fargo & Company increased their price objective on shares of AvalonBay Communities from $210.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Twelve 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 data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $207.76.

AvalonBay Communities Stock Up 0.2 %

NYSE AVB traded up $0.33 on Friday, reaching $208.98. The company had a trading volume of 103,946 shares, compared to its average volume of 729,672. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $29.71 billion, a P/E ratio of 31.03, a P/E/G ratio of 3.03 and a beta of 0.96. The company’s fifty day moving average is $200.10 and its 200 day moving average is $188.43. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $211.20.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($1.42). The business had revenue of $712.86 million during the quarter, compared to analysts’ expectations 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 in the prior year, the firm posted $2.57 EPS. Sell-side analysts anticipate that AvalonBay Communities, Inc. will post 10.92 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $1.70 dividend. The ex-dividend date was Friday, June 28th. This represents a $6.80 annualized dividend and a dividend yield of 3.25%. AvalonBay Communities’s payout ratio is 101.19%.

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.