Truist analyst Michael Lewis lowered the firm’s price target on Essex Property Trust to $255 from $259 and keeps a Hold rating on the shares as part of a broader research note on Apartment REITs. The firm is updating its model to reflect the current interest rates, cap rates, and rent spread trends heading into the Q1 reporting season, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ESS:
- Essex Property Trust upgraded to Buy from Neutral at BofA
- Essex Property Trust price target lowered to $259 from $276 at Truist
- Essex acquires JV partner’s 49.9% interest in BEXAEW portfolio for $505M
- Essex Property upgraded to Outperform from Market Perform at Raymond James
- Essex Property Trust Schedules Investor Engagement Event