Teachers Insurance Annuity Association Of America Lowers stake in AvalonBay Communities Inc (AVB)

AvalonBay Communities Inc (AVB) : Teachers Insurance Annuity Association Of America reduced its stake in AvalonBay Communities Inc by 0.84% during the most recent quarter end. The investment management company now holds a total of 146,402 shares of AvalonBay Communities Inc which is valued at $26,468,018 after selling 1,234 shares in AvalonBay Communities Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.AvalonBay Communities Inc makes up approximately 1.15% of Teachers Insurance Annuity Association Of America’s portfolio.

Other Hedge Funds, Including , Korea Investment Corp boosted its stake in AVB in the latest quarter, The investment management firm added 4,400 additional shares and now holds a total of 182,896 shares of AvalonBay Communities Inc which is valued at $33,065,768. AvalonBay Communities Inc makes up approx 0.19% of Korea Investment Corp’s portfolio.Great West Life Assurance Co Can boosted its stake in AVB in the latest quarter, The investment management firm added 100,039 additional shares and now holds a total of 223,078 shares of AvalonBay Communities Inc which is valued at $40,785,351. AvalonBay Communities Inc makes up approx 0.12% of Great West Life Assurance Co Can’s portfolio.Tarbox Group boosted its stake in AVB in the latest quarter, The investment management firm added 3 additional shares and now holds a total of 24 shares of AvalonBay Communities Inc which is valued at $4,456.Muzinich reduced its stake in AVB by selling 2,509 shares or 71.28% in the most recent quarter. The Hedge Fund company now holds 1,011 shares of AVB which is valued at $181,737. AvalonBay Communities Inc makes up approx 0.08% of Muzinich’s portfolio.Shinko Asset Management Ltd. boosted its stake in AVB in the latest quarter, The investment management firm added 5,358 additional shares and now holds a total of 2,184,052 shares of AvalonBay Communities Inc which is valued at $404,748,517. AvalonBay Communities Inc makes up approx 2.74% of Shinko Asset Management Ltd.’s portfolio.

AvalonBay Communities Inc opened for trading at $174.24 and hit $176.32 on the upside on Monday, eventually ending the session at $175.55, with a gain of 1.15% or 2 points. The heightened volatility saw the trading volume jump to 4,75,241 shares. Company has a market cap of $24,105 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 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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