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

Nordea Investment Management AB lifted its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 40.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 314,110 shares of the real estate investment trust’s stock after purchasing an additional 90,808 shares during the period. Nordea Investment Management AB’s holdings in AvalonBay Communities were worth $69,148,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Segment Wealth Management LLC increased its stake in shares of AvalonBay Communities by 4.6% in the 3rd quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 45 shares during the period. SYSTM Wealth Solutions LLC increased its position in AvalonBay Communities by 2.7% in the second quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock worth $386,000 after purchasing an additional 49 shares during the period. Patrick M Sweeney & Associates Inc. raised its holdings in AvalonBay Communities by 4.1% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock worth $286,000 after purchasing an additional 50 shares during the last quarter. Tectonic Advisors LLC lifted its position in AvalonBay Communities by 2.7% during the 3rd quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock valued at $436,000 after purchasing an additional 50 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its stake in shares of AvalonBay Communities by 4.6% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AVB shares. Mizuho raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $239.00 to $242.00 in a research note on Monday. Evercore ISI raised their price target on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft upped their price objective on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Scotiabank reduced their target price on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Finally, BNP Paribas initiated coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $234.53.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $233.78, for a total value of $528,576.58. Following the completion of the transaction, the director now directly owns 111,436 shares in the company, valued at $26,051,508.08. This trade represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is owned by insiders.

AvalonBay Communities Price Performance

AVB stock opened at $211.38 on Wednesday. The stock has a market cap of $30.07 billion, a PE ratio of 28.92, a price-to-earnings-growth ratio of 3.30 and a beta of 0.99. The stock has a 50-day moving average price of $225.95 and a two-hundred day moving average price of $220.20. AvalonBay Communities, Inc. has a 1 year low of $169.37 and a 1 year high of $239.29. 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 earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The firm 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 business posted $2.66 EPS. Equities analysts forecast that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently announced 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 is Tuesday, December 31st. AvalonBay Communities’s payout ratio is 93.02%.

About AvalonBay Communities

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.