Sumitomo Mitsui Trust Holdings Inc. Has $181.52 Million Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 978,207 shares of the real estate investment trust’s stock after selling 16,298 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.69% of AvalonBay Communities worth $181,516,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. boosted its position in shares of AvalonBay Communities by 50.0% in the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 75 shares during the period. Arlington Trust Co LLC acquired a new position in shares of AvalonBay Communities during the 4th quarter worth approximately $45,000. Bear Mountain Capital Inc. bought a new position in shares of AvalonBay Communities during the fourth quarter worth approximately $66,000. Sunbelt Securities Inc. acquired a new stake in shares of AvalonBay Communities in the first quarter valued at approximately $68,000. Finally, Gold Investment Management Ltd. bought a new stake in shares of AvalonBay Communities in the fourth quarter valued at approximately $71,000. 92.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on AVB shares. Royal Bank of Canada lifted their price objective on AvalonBay Communities from $191.00 to $196.00 and gave the company a “sector perform” rating in a report on Monday, April 29th. JPMorgan Chase & Co. upped their price objective on shares of AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a research report on Monday, June 17th. UBS Group raised their target price on shares of AvalonBay Communities from $199.00 to $210.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th. Mizuho upped their price target on shares of AvalonBay Communities from $185.00 to $194.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Finally, Barclays increased their price target on shares of AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $206.89.

AvalonBay Communities Trading Down 0.2 %

Shares of AVB stock traded down $0.42 on Wednesday, hitting $203.78. The company had a trading volume of 38,696 shares, compared to its average volume of 741,580. AvalonBay Communities, Inc. has a twelve month low of $160.45 and a twelve month 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 firm has a market cap of $28.98 billion, a P/E ratio of 30.38, a P/E/G ratio of 3.02 and a beta of 0.96. The stock’s 50-day moving average is $197.10 and its two-hundred day moving average is $187.00.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. The firm had revenue of $712.86 million during the quarter, compared to analyst estimates of $706.61 million. During the same quarter last year, the firm posted $2.57 EPS. On average, equities research analysts anticipate that AvalonBay Communities, Inc. will post 10.92 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $6.80 dividend on an annualized basis and a yield of 3.34%. AvalonBay Communities’s payout ratio is currently 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.