Morgan Stanley Sticks to Its Buy Rating for AvalonBay (AVB)
In a report released today, Adam Kramer from Morgan Stanley maintained a Buy rating on AvalonBay, with a price target of $222.50.
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Kramer covers the Real Estate sector, focusing on stocks such as AvalonBay, Invitation Homes, and Mid-America Apartment. According to TipRanks, Kramer has an average return of -3.4% and a 26.67% success rate on recommended stocks.
In addition to Morgan Stanley, AvalonBay also received a Buy from Wells Fargo’s James Feldman in a report issued on November 10. However, on the same day, UBS maintained a Hold rating on AvalonBay (NYSE: AVB).
Based on AvalonBay’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $764.93 million and a net profit of $381.31 million. In comparison, last year the company earned a revenue of $734.31 million and had a net profit of $372.52 million
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