Duff Phelps Investment Management Co buys $58,699,965 stake in AvalonBay Communities Inc (AVB)

AvalonBay Communities Inc (AVB) : Duff Phelps Investment Management Co scooped up 530 additional shares in AvalonBay Communities Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 347,481 shares of AvalonBay Communities Inc which is valued at $58,699,965.AvalonBay Communities Inc makes up approximately 0.85% of Duff Phelps Investment Management Co’s portfolio.

Other Hedge Funds, Including , Vigilant Capital Management sold out all of its stake in AVB during the most recent quarter. The investment firm sold 38 shares of AVB which is valued $6,419.Harbour Capital Advisors reduced its stake in AVB by selling 50 shares or 2.83% in the most recent quarter. The Hedge Fund company now holds 1,715 shares of AVB which is valued at $288,309. AvalonBay Communities Inc makes up approx 0.16% of Harbour Capital Advisors’s portfolio.Nisa Investment Advisors reduced its stake in AVB by selling 2,700 shares or 5.98% in the most recent quarter. The Hedge Fund company now holds 42,432 shares of AVB which is valued at $7,081,052. AvalonBay Communities Inc makes up approx 0.09% of Nisa Investment Advisors’s portfolio.Hexavest reduced its stake in AVB by selling 8,247 shares or 6.33% in the most recent quarter. The Hedge Fund company now holds 121,942 shares of AVB which is valued at $20,349,681. AvalonBay Communities Inc makes up approx 0.37% of Hexavest’s portfolio.Harbour Capital Advisors reduced its stake in AVB by selling 50 shares or 2.83% in the most recent quarter. The Hedge Fund company now holds 1,715 shares of AVB which is valued at $286,559. AvalonBay Communities Inc makes up approx 0.15% of Harbour Capital Advisors’s portfolio.

AvalonBay Communities Inc opened for trading at $168.31 and hit $169.46 on the upside on Friday, eventually ending the session at $168.93, with a gain of 0.49% or 0.82 points. The heightened volatility saw the trading volume jump to 8,18,896 shares. Company has a market cap of $23,196 M.

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 Upgraded by Sandler O’Neill to ” Buy” on Sep 6, 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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