Barclays analyst Anthony Powell raised the firm’s price target on AvalonBay to $186 from $175 and keeps an Equal Weight rating on the shares. Following the Q4 earnings, the analyst believes it is important for apartment real estate investment trust investors to have exposure to New York City, citing "strong" rent growth outlook and moderate supply growth in 2023.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on AVB:
- AvalonBay price target raised to $188 from $179 at Mizuho
- AvalonBay announces 3.8% increase to quarterly dividend to $1.65 per share
- AvalonBay reports Q4 core FFO $2.59, consensus $2.58
- Housing downturn could fuel gains for residential REITs, Barron’s says
- AvalonBay upgraded to Buy from Hold at Truist