Heitman Real Estate Securities Lowers stake in AvalonBay Communities Inc (AVB)

AvalonBay Communities Inc (AVB) : Heitman Real Estate Securities reduced its stake in AvalonBay Communities Inc by 52.69% during the most recent quarter end. The investment management company now holds a total of 660,012 shares of AvalonBay Communities Inc which is valued at $119,323,569 after selling 734,932 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 6.15% of Heitman Real Estate Securities’s portfolio.

Other Hedge Funds, Including , Piedmont Investment Advisors reduced its stake in AVB by selling 124 shares or 1.83% in the most recent quarter. The Hedge Fund company now holds 6,647 shares of AVB which is valued at $1,201,711. AvalonBay Communities Inc makes up approx 0.02% of Piedmont Investment Advisors’s portfolio.Parametric Portfolio Associates boosted its stake in AVB in the latest quarter, The investment management firm added 1,386 additional shares and now holds a total of 191,865 shares of AvalonBay Communities Inc which is valued at $34,687,273. AvalonBay Communities Inc makes up approx 0.05% of Parametric Portfolio Associates’s portfolio.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.Mizuho Trust Banking Ltd. boosted its stake in AVB in the latest quarter, The investment management firm added 6,748 additional shares and now holds a total of 247,162 shares of AvalonBay Communities Inc which is valued at $45,188,628. AvalonBay Communities Inc makes up approx 0.13% of Mizuho Trust Banking Ltd.’s portfolio.Sanders Morris Harris reduced its stake in AVB by selling 1,950 shares or 14.17% in the most recent quarter. The Hedge Fund company now holds 11,813 shares of AVB which is valued at $2,123,505. AvalonBay Communities Inc makes up approx 0.54% of Sanders Morris Harris’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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