Adelante Capital Management Lowers stake in AvalonBay Communities Inc (AVB)

AvalonBay Communities Inc (AVB) : Adelante Capital Management reduced its stake in AvalonBay Communities Inc by 21.01% during the most recent quarter end. The investment management company now holds a total of 480,703 shares of AvalonBay Communities Inc which is valued at $86,906,295 after selling 127,859 shares in AvalonBay Communities Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.AvalonBay Communities Inc makes up approximately 3.96% of Adelante Capital Management’s portfolio.

Other Hedge Funds, Including , Walleye Trading added AVB to its portfolio by purchasing 8,123 company shares during the most recent quarter which is valued at $1,468,557. AvalonBay Communities Inc makes up approx 0.11% of Walleye Trading’s portfolio. Ipswich Investment Management sold out all of its stake in AVB during the most recent quarter. The investment firm sold 60 shares of AVB which is valued $10,970.Eii Capital Management reduced its stake in AVB by selling 900 shares or 14.06% in the most recent quarter. The Hedge Fund company now holds 5,500 shares of AVB which is valued at $1,005,565. AvalonBay Communities Inc makes up approx 0.29% of Eii Capital Management’s portfolio.Bank Of Hawaii reduced its stake in AVB by selling 225 shares or 3.17% in the most recent quarter. The Hedge Fund company now holds 6,865 shares of AVB which is valued at $1,255,128. AvalonBay Communities Inc makes up approx 0.13% of Bank Of Hawaii’s portfolio.Gemmer Asset Management boosted its stake in AVB in the latest quarter, The investment management firm added 31 additional shares and now holds a total of 332 shares of AvalonBay Communities Inc which is valued at $61,526. AvalonBay Communities Inc makes up approx 0.03% of Gemmer Asset Management’s portfolio.

AvalonBay Communities Inc opened for trading at $175.2 and hit $176.26 on the upside on Thursday, eventually ending the session at $175.81, with a gain of 0.46% or 0.8 points. The heightened volatility saw the trading volume jump to 5,70,848 shares. Company has a market cap of $24,141 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 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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