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UPDATE: Jefferies Downgrades AvalonBay Communities to Hold on 2013 Outlook

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Jefferies downgraded AvalonBay Communities (NYSE: AVB) from Buy to Hold and lowered the price target from $155.00 to $135.00.

Jefferies noted, "AVB's 2013 same store NOI growth forecast of 4.0% to 5.5% (vs. 7.6% in 2012) suggests coastal market fundamentals are slowing faster than we anticipated given: 1)rising supply in key markets (DC and Seattle), 2)slow job growth and 3)an improving housing market. We are downgrading AVB to Hold from Buy."

AvalonBay Communities closed at $125.93 on Monday.

Latest Ratings for AVB

DateFirmActionFromTo
Aug 2014JefferiesMaintainsHold
Jul 2014CitigroupMaintainsNeutral
Jul 2014Deutsche BankMaintainsBuy

View More Analyst Ratings for AVB
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Downgrades Analyst Ratings

 

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