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-0.000401465348522168 -0.000577106438500573 -2.50915842826088E-05 0.000526923269935212 -0.0127967079841422 -0.0103377327244442 -0.0144276609625132 -0.0218547699101722
Stock impact report

AvalonBay Communities downgraded at BMO on higher costs, weaker demand [Seeking Alpha]

AvalonBay Communities, Inc. (AVB) 
Last avalonbay communities, inc. earnings: 2/5 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investors.avalonbay.com
Company Research Source: Seeking Alpha
Shares were down in Friday morning trade at $197.40. The Arlington, VA-based real estate investment trust was cut to Market Perform from Outperform, with the price target reduced to $220.00 from $230.00. "DOGE-related job cuts in Washington, DC, spiked in March to 217K, bringing YTD job cuts to 288K, according to the March Challenger report, which we estimate at 8.4% of total employment," said BMO analysts. "While federal employees will receive severance that could mask dents in apartment fundamentals, we expect conditions to weaken during peak leasing season. AVB derives 15.6% of its SSNOI from DC Metro / Baltimore region," said the analysts. AVB's ambitious $3.5B development pipeline by the end of 2025 faces rising headwinds, according to the research note. The anticipated rise in lumber tariffs is expected to drive up construction costs, while deportation may drive labor costs higher, according to the note. Also, deportation is expected to impact class B and C rental d Show less Read more
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