Greenleaf Trust Has $639,000 Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Greenleaf Trust lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,977 shares of the real estate investment trust’s stock after selling 51 shares during the quarter. Greenleaf Trust’s holdings in AvalonBay Communities were worth $639,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in AvalonBay Communities in the fourth quarter valued at about $1,499,050,000. Price T Rowe Associates Inc. MD raised its stake in AvalonBay Communities by 35.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust’s stock valued at $1,133,328,000 after purchasing an additional 1,336,698 shares in the last quarter. Geode Capital Management LLC raised its stake in AvalonBay Communities by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 3,693,457 shares of the real estate investment trust’s stock valued at $810,470,000 after purchasing an additional 107,655 shares in the last quarter. Cohen & Steers Inc. raised its stake in AvalonBay Communities by 25.7% in the fourth quarter. Cohen & Steers Inc. now owns 3,130,108 shares of the real estate investment trust’s stock valued at $688,527,000 after purchasing an additional 639,402 shares in the last quarter. Finally, Northern Trust Corp raised its stake in AvalonBay Communities by 54.8% in the fourth quarter. Northern Trust Corp now owns 2,642,743 shares of the real estate investment trust’s stock valued at $581,324,000 after purchasing an additional 935,770 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $201.81 on Friday. The business’s 50 day simple moving average is $204.74 and its 200 day simple moving average is $210.33. AvalonBay Communities, Inc. has a one year low of $180.40 and a one year high of $239.29. The stock has a market capitalization of $28.73 billion, a PE ratio of 25.13, a PEG ratio of 2.73 and a beta of 0.85. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.51 and a quick ratio of 0.51.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, beating the consensus estimate of $2.80 by $0.03. The business had revenue of $693.43 million for the quarter, compared to analysts’ expectations of $744.61 million. AvalonBay Communities had a return on equity of 9.65% and a net margin of 38.86%. During the same period in the prior year, the business posted $2.70 earnings per share. As a group, research analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Monday, June 30th. AvalonBay Communities’s payout ratio is 87.17%.

Insider Buying and Selling

In other AvalonBay Communities news, EVP Edward M. Schulman sold 5,945 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the transaction, the executive vice president directly owned 17,617 shares in the company, valued at approximately $3,623,288.39. This represents a 25.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin P. O’shea sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $207.57, for a total value of $1,245,420.00. Following the transaction, the chief financial officer directly owned 22,782 shares in the company, valued at $4,728,859.74. The trade was a 20.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AVB shares. Morgan Stanley boosted their price target on AvalonBay Communities from $226.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, May 15th. Piper Sandler lowered their target price on AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. JPMorgan Chase & Co. lowered their target price on AvalonBay Communities from $251.00 to $249.00 and set an “overweight” rating for the company in a research note on Tuesday, June 17th. Barclays boosted their target price on AvalonBay Communities from $227.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. Finally, Scotiabank lowered their target price on AvalonBay Communities from $251.00 to $236.00 and set a “sector perform” rating for the company in a research note on Friday, June 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $235.86.

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.