Apartment Income REIT upgraded to Buy from Sell at Goldman Sachs

Goldman Sachs analyst Chandni Luthra double upgraded Apartment Income REIT to Buy from Sell with a price target of $43, up from $39. The company’s diversified strategy is well suited in this economic backdrop with strong lease spreads, Luthra tells investors in a research note. The analyst says Apartment Income has simplified its business model by reducing leverage, fully separating its business from Aimco, and optimizing its portfolio by selling older assets and exiting certain regulation-heavy markets.