Vivmark Residential
VMRK: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| <$ | LOCK|%@@ | LOCK|d!??N$b |
AvalonBay Earnings: Strong Occupancy Offset by Rental Rate Softness; Full-Year Guidance Reaffirmed
AvalonBay Communities reported a mixed start to the year, as better-than-expected occupancy rates were offset by weaker-than-expected rental rate growth during the first quarter. As we incorporate the first-quarter results, in addition to the early second-quarter results, we view shares as modestly undervalued and will maintain our $232 fair value estimate for the no-moat company.
