Real Estate-Focused AEW Capital Management’s Biggest Q1 Moves

#2 Federal Realty Investment Trust (NYSE:FRT)

– Shares Owned by AEW Capital (as of March 31): 1.1 Million

– Value of Holding (as of March 31): $172.32 Million

After being trimmed by 13% AEW’s Federal Realty Investment Trust (NYSE:FRT) holding represented 3.5% of the fund’s portfolio. The stock is up by nearly 6% so far this year and is currently trading at about 3.2% below its 52 week high. The Rockville, Md.-based REIT is looking for a new CFO as James Taylor Jr., the previous holder of the position is scheduled to step down on May 19 as he will take over the CEO position at Brixmor Property Group Inc. Michael Platt and William Reeves‘ BlueCrest Capital Management initiated a stake in Federal Realty Investment Trust (NYSE:FRT) during the first trimester with some 60,800 shares valued at $9.49 million.

#1 Ventas, Inc. (NYSE:VTR)

– Shares Owned by AEW Capital (as of March 31): 3.35 Million

– Value of Holding (as of March 31): $211.04 Million

Lastly, AEW’s Ventas, Inc. (NYSE:VTR) holding represented 4.3% of the fund’s portfolio after being trimmed by 8% during the first quarter. Beech Hill Partners, which is managed by Paul Cantor, Joseph Weiss, and Will Wurm also trimmed its stake in Ventas by 2% to about 91,300 shares during the same period. The stock price of Ventas is up by 17% so far this year on the heels of first quarter financial results that beat both top- and bottom-line estimates. Ventas, Inc. (NYSE:VTR)’s quarterly normalized FFO grew 7% on a comparable basis to $1.04 per diluted share and the company reaffirmed its 2016 normalized FFO guidance of $4.07 to $4.15 per diluted share.

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