Mizuho downgraded AvalonBay (AVB) to Neutral from Outperform with a price target of $199, down from $213. The firm believes growth headwinds from weakness in AvalonBay’s Los Angeles portfolio and risk in D.C., Boston and Seattle will a deceleration in funds from operations in 2026. AvalonBay also faces tougher suburban rent compares and headwinds from its suburban-focused portfolio, the analyst tells investors in a research note.
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