Cantor Fitzgerald raised the firm’s price target on AvalonBay (AVB) to $186 from $179 and keeps a Neutral rating on the shares. The five covered Multifamily REITs reported Q4 results below consensus, though the key metric to watch is new lease rate growth ahead of the spring/summer leasing season, the analyst tells investors in a research note.
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Read More on AVB:
- AvalonBay price target lowered to $183 from $190 at Piper Sandler
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- AvalonBay price target lowered to $187 from $191 at RBC Capital
- AvalonBay board increases quarterly dividend 1.7% to $1.78 per share
- AvalonBay reports Q4 core FFO $2.85, consensus $2.84