AvalonBay price target lowered to $185 from $188 at Mizuho

Mizuho lowered the firm’s price target on AvalonBay to $185 from $188 and keeps a Buy rating on the shares. The apartment real estate investment trust 2024 guides came in below consensus, with pockets of clear conservatism embedded within the company’s outlooks, the analyst tells investors in a research note. The firm updated estimates and price targets post the Q4 reports.