AEW Capital Management Is Fond of These REITs

The second-biggest REIT holding of AEW Capital Management at the end of the second quarter was in Equity Residential (NYSE:EQR), in which it held 4.22 million shares valued at $296.19 million, representing 6.59% of its portfolio. The stock’s performance has also been attractive, with it ranking as a stock with high earnings per share growth, having posted 54.80% growth over the past five years. This year, the stock’s share price has gone up by 5.99%, to go along with a 16.85% rise over the past year. At the end of the second quarter, the activities of different hedge funds relating to Equity Residential (NYSE:EQR) were varied, including several new purchases alongside some selling. At the end of the second quarter, Matthew Tewksbury‘s Stevens Capital Management held a total of 122,070 shares of the company with a market value of $8.57 million after reducing its position by 158,164 shares. Seminole Capital (Investment Mgmt), led by Michael Messner, on the other hand held a total of 95,886 shares valued at $6.73 million, having opened a new position in the stock during the quarter.

Finally, let’s look at Boston Properties, Inc. (NYSE:BXP), in which AEW Capital Management held 2.41 million shares valued at $291.41 million, having raised its stake in the stock during the quarter by 8%. Its position in the stock represents 6.48% of its total portfolio, up from 6.27% at the end of the prior quarter. The real estate company announced a dividend of $0.65 to stock holders of record as of June 30, 2015, with the payment made on July 31, 2015, which translates to a 2.08% annualized dividend yield. During the second quarter, Boston Properties, Inc. (NYSE:BXP) initiated three major development projects in Waltham, depicting a focus on long-term at the expense of short-term benefits. The stock has lost 6.24% in value since the beginning of the year, perhaps reflecting that long-term focus, to the detriment of its near-term stock performance. At the end of the second quarter, Stevens Capital Management held a total of 129,667 shares with a market value of $15.70 million after adding 36,171 shares to its position in the stock during the quarter.

Disclosure: None