Mizuho Securities Starts Apartment Income REIT Corp (AIRC) at Neutral

Mizuho Securities analyst Haendel St. Juste initiates coverage on Apartment Income REIT Corp (NYSE: AIRC) with a Neutral rating and a price target of $40.00.

The analyst commented, "We are launching coverage of Apartment Income REIT (AIRC) which began trading on 12/15/20 following the taxable spin-off from AIMCO (AIV). We are initiating coverage of AIRC at Neutral / $40PT (same as pre-spin AIV), as we think the stock is fairly valued with a balanced risk/reward near-term. Notable positives include a more streamlined platform, an improved portfolio largely focused on coastal markets but with better balance than meets the eye, and an improved balance sheet. Notable concerns include its ongoing, multi-pronged relationship with post-spin AIV, lack of clarity on a near-term dividend, pending exit from the S&P500 and portfolio results (pre-spin) that likely continues to lag peers' near-term."

For an analyst ratings summary and ratings history on Apartment Income REIT Corp click here. For more ratings news on Apartment Income REIT Corp click here.

Shares of Apartment Income REIT Corp closed at $39.85 yesterday.

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