BMO Capital downgraded Apartment Income REIT (AIRC) to Market Perform from Outperform with a price target of $39.12, up from $36, after the company reached an agreement to be acquired by Blackstone Real Estate Partners X (BX) in an all-cash transaction for $39.12 per share. Following the deal, the analyst believes Independence Realty Trust (IRT) and Camden Property (CPT) may be attractive targets in the multifamily sector.
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