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Analysts Just Upgraded These 3 Apartment REITs

As real estate investment trusts (REITs) were underperforming in 2022, analysts in the major brokerages and banks were busy slashing target prices and downgrading many of the REITs, citing threats from inflation, higher interest rates, increasing risk of defaults, increasing occupancy and higher costs.

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These REITs Were Hit Hardest by 2022’s Rate Hikes

Real estate was the second-worst-performing sector after technology in 2022, primarily because of multiple rate hikes. The Federal Reserve raised the benchmark federal funds rate seven times last year to the highest level in 15 years to mitigate inflationary pressures. The S&P United States REIT index plunged 27% in 2022.

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