Greenland Capital Management LP Makes New $11.79 Million Investment in AvalonBay Communities, Inc. $AVB

Greenland Capital Management LP acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the 2nd quarter, according to its most recent Form 13F 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 makes up approximately 1.2% of Greenland Capital Management LP’s portfolio, making the stock its 15th biggest holding.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of AvalonBay Communities by 0.6% in the second quarter. Vanguard Group Inc. now owns 22,800,375 shares of the real estate investment trust’s stock worth $4,639,876,000 after acquiring an additional 127,693 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of AvalonBay Communities by 7.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,520,036 shares of the real estate investment trust’s stock valued at $1,184,712,000 after buying an additional 367,853 shares in the last quarter. Geode Capital Management LLC grew its stake in AvalonBay Communities by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 3,875,614 shares of the real estate investment trust’s stock valued at $785,551,000 after acquiring an additional 57,599 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of AvalonBay Communities by 3.9% in the first quarter. JPMorgan Chase & Co. now owns 3,814,430 shares of the real estate investment trust’s stock worth $818,653,000 after purchasing an additional 143,646 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of AvalonBay Communities by 5.2% in the first quarter. Northern Trust Corp now owns 2,779,484 shares of the real estate investment trust’s stock worth $596,533,000 after purchasing an additional 136,741 shares in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AVB shares. Scotiabank lowered their price target on shares of AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. BNP Paribas lowered AvalonBay Communities from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Mizuho reiterated a “neutral” rating and set a $199.00 price target (down from $213.00) on shares of AvalonBay Communities in a report on Thursday, August 14th. Morgan Stanley lowered their price target on AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating for the company in a research note on Thursday, November 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AvalonBay Communities in a research note on Tuesday, October 14th. Five research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $209.35.

AvalonBay Communities Stock Performance

Shares of AVB opened at $177.40 on Wednesday. The company has a market capitalization of $25.12 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 2.54 and a beta of 0.84. AvalonBay Communities, Inc. has a one year low of $166.73 and a one year high of $239.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.70. The company’s fifty day moving average price is $185.97 and its 200 day moving average price is $194.90.

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

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $1.75 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $7.00 annualized dividend and a dividend yield of 3.9%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 85.47%.

AvalonBay Communities Company Profile

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.