Uniplan Investment Counsel Inc. lessened its stake in shares of AvalonBay Communities, Inc. ( NYSE:AVB – Free Report ) by 7.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 64,424 shares of the real estate investment trust's stock after selling 4,902 shares during the quarter. AvalonBay Communities comprises about 1.3% of Uniplan Investment Counsel Inc.'s portfolio, making the stock its 19th largest holding. Uniplan Investment Counsel Inc.'s holdings in AvalonBay Communities were worth $13,827,000 as of its most recent filing with the SEC.