Apartment Income REIT price target raised to $41 from $39 at Truist

Truist raised the firm’s price target on Apartment Income REIT to $41 from $39 and keeps a Hold rating on the shares. While the firm’s estimates are below consensus due to a combination of conservative market rent growth projections, assumptions regarding deployment of JV proceeds, and an interest rate curve with declines that keep getting pushed into the future, investors should keep an eye on the Q2 earnings call near the end of this month to see if the REIT is on track to realize favorable seasonality in the second half of the year, the analyst tells investors in a research note.