Morgan Stanley raised the firm’s price target on AvalonBay to $209 from $203 and keeps an Overweight rating on the shares. Apartments are the best performing REIT subsector year-to-date, but with peak deliveries still to come, the firm wonders if the group, now trading at a premium, has “gotten ahead of itself,” the analyst tells investors. The firm, which advises investors to “stay selective,” raised its apartment REIT price targets by about 6% on average.
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Read More on AVB:
- AvalonBay downgraded to In Line from Outperform at Evercore ISI
- AvalonBay price target raised to $212 from $188 at Argus
- AvalonBay price target raised to $196 from $191 at RBC Capital
- AvalonBay price target raised to $230 from $207 at Piper Sandler
- AvalonBay price target raised to $218 from $204 at Barclays
