AvalonBay Communities Inc (NYSE:AVB) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. increased its stake in AvalonBay Communities Inc (NYSE:AVB) by 3.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,154 shares of the real estate investment trust’s stock after purchasing an additional 5,212 shares during the period. Nomura Asset Management Co. Ltd. owned 0.10% of AvalonBay Communities worth $29,492,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. boosted its stake in AvalonBay Communities by 85.5% in the 1st quarter. Cornerstone Advisors Inc. now owns 128 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 59 shares in the last quarter. NuWave Investment Management LLC boosted its stake in AvalonBay Communities by 575.0% in the 2nd quarter. NuWave Investment Management LLC now owns 216 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 184 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in AvalonBay Communities by 900.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 250 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 225 shares in the last quarter. Hanson McClain Inc. boosted its stake in AvalonBay Communities by 29.6% in the 1st quarter. Hanson McClain Inc. now owns 267 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 61 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in AvalonBay Communities in the 2nd quarter worth approximately $60,000. Institutional investors own 92.42% of the company’s stock.

NYSE AVB traded down $3.04 on Friday, hitting $206.49. 49,717 shares of the company’s stock traded hands, compared to its average volume of 519,866. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.70. AvalonBay Communities Inc has a 1-year low of $167.01 and a 1-year high of $216.80. The firm’s 50-day moving average price is $208.44 and its two-hundred day moving average price is $203.90. The firm has a market capitalization of $29.36 billion, a PE ratio of 22.91, a P/E/G ratio of 3.88 and a beta of 0.52.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($1.10). AvalonBay Communities had a net margin of 41.83% and a return on equity of 8.63%. The firm had revenue of $577.26 million during the quarter, compared to analyst estimates of $572.69 million. During the same quarter in the prior year, the firm earned $2.23 earnings per share. On average, research analysts anticipate that AvalonBay Communities Inc will post 9.32 earnings per share for the current fiscal year.

In related news, EVP William M. Mclaughlin sold 2,500 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $215.11, for a total value of $537,775.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward M. Schulman sold 1,301 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $213.47, for a total transaction of $277,724.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,801 shares of company stock valued at $1,243,499. Company insiders own 0.42% of the company’s stock.

Several analysts have commented on AVB shares. SunTrust Banks lifted their price objective on shares of AvalonBay Communities from $211.00 to $218.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. They noted that the move was a valuation call. Robert W. Baird upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $198.00 to $215.00 in a research note on Thursday, May 16th. Morgan Stanley lifted their price objective on shares of AvalonBay Communities from $217.00 to $229.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Wells Fargo & Co lifted their price objective on shares of AvalonBay Communities from $218.00 to $224.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Finally, KeyCorp lifted their price objective on shares of AvalonBay Communities from $212.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $212.87.

About AvalonBay Communities

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

Further Reading: S&P 500 Index

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

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