As previously reported, Evercore ISI analyst Steve Sakwa downgraded Essex Property Trust to In Line from Outperform with a price target of $236, down from $243. The firm didn’t make any material changes to revenue or NOI growth across the apartment or single-family rental space as part of its Q1 residential REIT preview note, but it is downgrading Essex to In Line given adverse regulatory changes and additional tech job losses.
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Published first on TheFly
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