by Sam Collins | April 16, 2012 1:25 am
AvalonBay Communities (NYSE:AVB) — This real estate investment trust (REIT) specializes in upscale apartment communities.
An improving U.S. economy with high apartment occupancy levels should result in higher rental rates for AvalonBay, and new development activities will be an important driver of earnings in 2012. FFO per share in 2012 is forecast at $5.30, up from $4.57 in 2011.
On March 30, the stock broke from a multiple top with a trading objective of $150. Last week, the stochastic flashed a buy signal.
Longer-term investors should consider AVB as a cornerstone REIT with an objective of $175. Additionally, AVB has a dividend yield of 2.83%, which is expected to increase.
Source URL: http://investorplace.com/2012/04/trade-of-the-day-avalonbay-communities-nyse-avb/
Short URL: http://invstplc.com/1fCSeUe
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.