Marcus Lindstrom Apartment Income REIT Corp. (Air Communities) (NYSE:AIRC) shares have performed poorly over the past year, with a -13% total return underperforming the broader real estate index (VNQ) which has a negative total return of -2%. Beyond 'Higher for Longer' interest rates and generally negative commercial real estate headlines, investors seem to be discouraged by a slowdown in NOI growth and slightly higher financing costs, which are expected to impact 2024 results. While NOI growth for 2024 ...