Greenland Capital Management LP Purchases New Holdings in AvalonBay Communities, Inc. $AVB

Greenland Capital Management LP acquired a new position in AvalonBay Communities, Inc. (NYSE:AVB) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 57,952 shares of the real estate investment trust’s stock, valued at approximately $11,793,000. AvalonBay Communities accounts for approximately 1.2% of Greenland Capital Management LP’s portfolio, making the stock its 15th biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Clearstead Trust LLC raised its stake in shares of AvalonBay Communities by 62.0% in the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 62 shares in the last quarter. Sound Income Strategies LLC increased its holdings in AvalonBay Communities by 76.4% in the 2nd quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 81 shares during the period. Keystone Global Partners LLC acquired a new position in shares of AvalonBay Communities in the 1st quarter valued at $45,000. Zions Bancorporation National Association UT bought a new position in shares of AvalonBay Communities during the 1st quarter worth about $50,000. Finally, Capital Analysts LLC boosted its position in shares of AvalonBay Communities by 48.5% during the 1st quarter. Capital Analysts LLC now owns 245 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 80 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AVB has been the subject of several recent research reports. Truist Financial raised shares of AvalonBay Communities from a “hold” rating to a “buy” rating and dropped their price target for the stock from $224.00 to $218.00 in a research report on Thursday, September 11th. Barclays increased their target price on AvalonBay Communities from $228.00 to $229.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 30th. Evercore ISI reiterated an “in-line” rating and set a $214.00 target price on shares of AvalonBay Communities in a research report on Monday, November 3rd. BNP Paribas Exane lowered shares of AvalonBay Communities from an “outperform” rating to a “neutral” rating in a report on Monday, September 29th. Finally, Morgan Stanley reduced their target price on shares of AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Five investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $209.35.

AvalonBay Communities Trading Down 0.1%

AVB opened at $177.40 on Wednesday. The firm has a 50 day simple moving average of $185.97 and a 200 day simple moving average of $194.90. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.70. AvalonBay Communities, Inc. has a fifty-two week low of $166.73 and a fifty-two week high of $239.29. The company has a market cap of $25.12 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 2.54 and a beta of 0.84.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). The company had revenue of $766.80 million during the quarter, compared to analyst estimates of $766.22 million. AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.75%. During the same period last year, the company earned $2.74 EPS. On average, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $1.75 per share. The ex-dividend date was Tuesday, September 30th. This represents a $7.00 dividend on an annualized basis and a yield of 3.9%. AvalonBay Communities’s payout ratio is currently 85.47%.

About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.