RBC Capital raised the firm’s price target on AvalonBay (AVB) to $188 from $180 and keeps a Sector Perform rating on the shares after its Q1 FFO beat. The company’s March and April leasing spreads were much better than anticipated, with the year-to-date rent curve also looking in line with a normal year, the analyst tells investors in a research note. This contrasts with market data and investor expectations that suggest another muted year in 2026, the firm added.
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Read More on AVB:
- AvalonBay Communities Signals Strength in Earnings Call
- AvalonBay: Mixed Leasing Trends and Limited Upside Keep John Kim at Hold Despite Q1 Beat and New $1B Buyback
- AvalonBay reports Q1 core FFO $2.83, consensus $2.80
- AvalonBay sees Q2 core FFO $2.72-$2.82
- AvalonBay price target raised to $206 from $202 at Barclays