AVB stock closed up 1.3% on December 13, 2021, when the rest of the market closed down -0.7%. This excellent relative strength appears to be from a positive analysis of the stock.
AvalonBay price target raised to $307 from $289 at BTIG
BTIG analyst James Sullivan raised the firm’s price target on AVB stock to $307 from $289 and kept a Buy rating on the shares as part of a broader “BTIG Monthly Apartment REIT Report” research note. REITs outperformed the national spread for the second month in a row as Coastal performance continues to improve and growth rates remain very strong, even though the pace of growth has slowed, Sullivan tells investors in a research note.
AvalonBay upgraded to Outperform from Market Perform at BMO Capital
On December 9, 2021, BMO Capital analyst John Kim upgraded AVB stock to Outperform from Market Perform with a $285 price target. The analyst estimates AvalonBay has “attractive” rent growth in 2022, driven by LTL of 14% and 7.2% market rent growth. Kim added that the company has a significant $1.9B development pipeline that he believes has upward pressure on its 5.8% projected yield and is more attractive than external growth opportunities.
AVB stock upgraded to Outperform from Market Perform at BMO Capital
Also, on December 9, 2021, BMO Capital analyst John Kim upgraded AvalonBay to Outperform from Market Perform with a $285 price target. The analyst estimates AvalonBay has “attractive” rent growth in 2022, driven by LTL of 14% and 7.2% market rent growth. Kim added that the company has a significant $1.9B development pipeline that he believes has upward pressure on its 5.8% projected yield and is more attractive than external growth opportunities.
AVB stock price target raised to $265 from $242 at Wells Fargo
On November 22, 2021, Wells Fargo analyst Tamara Fique raised the firm’s price target on AVB stock to $265 from $242 and kept an Overweight rating on the shares. After a “strong” Q3 for the multifamily sector, the analyst said that the firm is adjusting its 2021 and 2022 FFO per share estimates and rolling out 2023 estimates. Fique added that AvalonBay is positioned “well” for growth.
Morgan Stanley upgrades AvalonBay to Overweight amid Apartment REIT shake-up
On November 8, 2021, Morgan Stanley analyst Richard Hill upgraded AvalonBay to Overweight from Equal Weight with a price target of $265, up from $242, as he applies a 25.5 times multiple to his “above-consensus” FY23 FFO estimate. Mr. Hill says he’ll “be wrong if development falters,” but he notes that AvalonBay has a successful track record. As a group, apartment REITs appear “set up for their best year ever” in 2022 as in-place leases are about 12% below market, Hill noted.
📺 VIDEO Why Rent Is Rising In The U.S.
CNBC reports that numbers from the fall of 2021 suggest that rents will increase rapidly in the coming years.
AVB Stock Technical Analysis
Both the short-term and long-term trends are positive. This is a very positive sign. AVB is part of the Equity Real Estate Investment Trusts (REITs) industry. There are 230 other stocks in this industry. AVB outperforms 86% of them. A new 52 week high is currently being made by AVB, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs. There is a support zone ranging from 232.41 to 236.98. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. There is a resistance zone ranging from 248.08 to 248.08. This zone is formed by a combination of multiple trend lines in multiple time frames. Besides having an excellent technical rating, AVB also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 248.08. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 242.71, a stop order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign. Click here to sign up for email alerts on when AVB stock is a good buy or sell.
