Advantus Capital Management Inc buys $55,386,463 stake in AvalonBay Communities Inc (AVB)

AvalonBay Communities Inc (AVB) : Advantus Capital Management Inc scooped up 14,600 additional shares in AvalonBay Communities Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 306,358 shares of AvalonBay Communities Inc which is valued at $55,386,463.AvalonBay Communities Inc makes up approximately 1.55% of Advantus Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Pioneer Investment Management Inc reduced its stake in AVB by selling 724 shares or 1.26% in the most recent quarter. The Hedge Fund company now holds 56,800 shares of AVB which is valued at $10,268,872. AvalonBay Communities Inc makes up approx 0.04% of Pioneer Investment Management Inc’s portfolio.Bb&t Securities boosted its stake in AVB in the latest quarter, The investment management firm added 142 additional shares and now holds a total of 2,826 shares of AvalonBay Communities Inc which is valued at $516,084. AvalonBay Communities Inc makes up approx 0.01% of Bb&t Securities’s portfolio.Chicago Equity Partners reduced its stake in AVB by selling 6,060 shares or 6.25% in the most recent quarter. The Hedge Fund company now holds 90,845 shares of AVB which is valued at $16,865,374. AvalonBay Communities Inc makes up approx 0.47% of Chicago Equity Partners’s portfolio.Savant Capital reduced its stake in AVB by selling 30 shares or 2.63% in the most recent quarter. The Hedge Fund company now holds 1,110 shares of AVB which is valued at $206,072. AvalonBay Communities Inc makes up approx 0.06% of Savant Capital’s portfolio.

AvalonBay Communities Inc closed down -1.07 points or -0.60% at $176.16 with 7,62,705 shares getting traded on Friday. Post opening the session at $176.62, the shares hit an intraday low of $174.9 and an intraday high of $177.415 and the price fluctuated in this range throughout the day.Shares ended Friday 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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