Aew Capital Management L P Lowers stake in AvalonBay Communities Inc (AVB)

AvalonBay Communities Inc (AVB) : Aew Capital Management L P reduced its stake in AvalonBay Communities Inc by 2.17% during the most recent quarter end. The investment management company now holds a total of 1,498,784 shares of AvalonBay Communities Inc which is valued at $270,965,159 after selling 33,300 shares in AvalonBay Communities Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.AvalonBay Communities Inc makes up approximately 5.36% of Aew Capital Management L P’s portfolio.

Other Hedge Funds, Including , Alliancebernstein boosted its stake in AVB in the latest quarter, The investment management firm added 64,348 additional shares and now holds a total of 626,992 shares of AvalonBay Communities Inc which is valued at $113,353,884. AvalonBay Communities Inc makes up approx 0.09% of Alliancebernstein’s portfolio.Standard Life Investments Ltd reduced its stake in AVB by selling 29,716 shares or 27.02% in the most recent quarter. The Hedge Fund company now holds 80,256 shares of AVB which is valued at $14,426,819. AvalonBay Communities Inc makes up approx 0.06% of Standard Life Investments Ltd’s portfolio. First New York Securities Ny added AVB to its portfolio by purchasing 800 company shares during the most recent quarter which is valued at $143,808. AvalonBay Communities Inc makes up approx 0.14% of First New York Securities Ny’s portfolio. Catawba Capital Management Va added AVB to its portfolio by purchasing 1,120 company shares during the most recent quarter which is valued at $205,822. AvalonBay Communities Inc makes up approx 0.05% of Catawba Capital Management Va’s portfolio.

AvalonBay Communities Inc closed down -0.98 points or -0.56% at $174.97 with 4,09,857 shares getting traded on Tuesday. Post opening the session at $176.43, the shares hit an intraday low of $174.93 and an intraday high of $176.59 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, AvalonBay Communities Inc reported $2.03 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jul 25, 2016. Analyst had a consensus of $2.05. The company had revenue of $502.30 million for the quarter, compared to analysts expectations of $497.58 million. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.87 EPS.

Many Wall Street Analysts have commented on AvalonBay Communities Inc. AvalonBay Communities Inc was Downgraded by Jefferies to ” Hold” on Jun 8, 2016.

AvalonBay Communities Inc. is a real estate investment trust (REIT). The Company develops redevelops acquires owns and operates multifamily communities primarily in New England the New York/New Jersey metro area the Mid-Atlantic the Pacific Northwest and Northern and Southern California. It focuses on metropolitan areas in these regions. The Company operates in three segments: Established Communities Other Stabilized Communities and Development/Redevelopment Communities. It owns an ownership interest in around 252 operating apartment communities containing 74240 apartment homes in 11 states and the District of Columbia of which around 228 communities contain around 66631 apartment homes; two communities containing over 618 apartment homes were held by joint ventures in which it holds an ownership interest and approximately 22 communities contain around 6991 apartment homes. It operates apartment communities under three core brands: Avalon AVA and Eaves by Avalon.

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