Truist analyst Michael Lewis raised the firm’s price target on AvalonBay to $213 from $207 and keeps a Hold rating on the shares as part of a broader research note on Apartment REITs updating the firm’s models to reflect current interest rates, cap rates and rent spread trends. Job growth to start the year has been stronger than most management teams expected across most markets, though some near-term conservatism regarding apartment fundamentals may be warranted, the analyst tells investors in a research note.
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 – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AVB:
- AvalonBay price target raised to $194 from $185 at Mizuho
- AvalonBay price target raised to $207 from $197 at Truist
- AvalonBay price target raised to $213 from $193 at Scotiabank
- AvalonBay price target raised to $209 from $203 at Morgan Stanley
- AvalonBay downgraded to In Line from Outperform at Evercore ISI