Callan Family Office LLC Takes $790,000 Position in AvalonBay Communities, Inc. $AVB

Callan Family Office LLC bought a new position in AvalonBay Communities, Inc. (NYSE:AVB) during the 2nd quarter, HoldingsChannel reports. The fund bought 4,184 shares of the real estate investment trust’s stock, valued at approximately $790,000.

A number of other hedge funds have also made changes to their positions in the company. Reflection Asset Management acquired a new position in AvalonBay Communities in the fourth quarter valued at about $25,000. Clearstead Trust LLC grew its stake in AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 56 shares during the last quarter. Zions Bancorporation National Association UT increased its holdings in shares of AvalonBay Communities by 300.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 120 shares in the last quarter. BOKF NA bought a new position in shares of AvalonBay Communities in the third quarter valued at approximately $31,000. Finally, Elyxium Wealth LLC acquired a new position in shares of AvalonBay Communities in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock opened at $184.06 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market cap of $26.28 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 2.98 and a beta of 0.76. The stock’s 50-day moving average is $187.68 and its 200-day moving average is $180.53. AvalonBay Communities, Inc. has a one year low of $160.10 and a one year high of $198.63.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. The firm had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. During the same period in the prior year, the business posted $2.82 EPS. Equities analysts predict that AvalonBay Communities, Inc. will post 11.33 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $1.78 per share. The ex-dividend date was Tuesday, June 30th. This represents a $7.12 annualized dividend and a yield of 3.9%. AvalonBay Communities’s dividend payout ratio is presently 116.34%.

Analyst Ratings Changes

AVB has been the topic of a number of research analyst reports. Wolfe Research upgraded AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price target on the stock in a research report on Monday, June 1st. Weiss Ratings downgraded AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price target on shares of AvalonBay Communities in a research note on Wednesday, August 19th. UBS Group decreased their price objective on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Finally, Jefferies Financial Group raised AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, AvalonBay Communities currently has a consensus rating of “Hold” and an average price target of $196.87.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.