AEW Capital Management LP initiated positions in three U.S. real estate investment trusts during the second quarter and eliminated its holdings in three others. During the same period, the firm increased its stake in 21 SNL-covered real estate companies, while decreasing its stake in 19.

The asset manager's positions in 43 real estate companies were valued at $4.35 billion as of June 30.

AEW Capital's largest new investment during the quarter was in Apartment Investment and Management Co., with 184,800 shares valued at $7.94 million.

During the second quarter, the firm increased its share count in Pennsylvania Real Estate Investment Trust by 309.0%, the largest percentage increase among existing positions. The asset manager also increased its positions in Gramercy Property Trust and American Homes 4 Rent by 50.9% and 12.5%, respectively.

The firm's largest disposition of shares for the quarter was in Chatham Lodging Trust, with 776,450 shares sold.

AEW Capital sold off 99.8% of its shares in Macerich Co., the largest decrease during the quarter. It also cut down holdings in diversified REITs Forest City Realty Trust Inc. and Alexander & Baldwin Inc. by 29.6% and 23.2%, respectively.

As of June 30, AEW's largest holding was in Simon Property Group Inc. with shares valued at $393.7 million. Prologis Inc. and Welltower Inc. followed with shares valued at $325.7 million and $257.0 million, respectively.

The multifamily sector represented AEW Capital's largest exposure by market value, at 14.4%, followed by office at 13.6% and regional mall at 12.0%.

Click here to view AEW Capital Management's institutional holdings. Company filings, including the Form 13F, can be found through the documents tab on a company's Briefing Book page.