Cantor Fitzgerald raised the firm’s price target on AvalonBay (AVB) to $190 from $186 and keeps a Neutral rating on the shares. The firm updated models in the multifamily real estate investment trust space following the Q1 reports. While deliveries of new multifamily products continue their downward trend, the “extended tail of supply” continues to hamper companies’ ability to generate positive new lease rate growth, the analyst tells investors in a research note.
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