UBS analyst Michael Goldsmith initiated coverage of Essex Property Trust with a Neutral rating and $226 price target. While conditions have improved in Essex Property’s challenged Seattle and Northern CA markets, the recovery continues to lag Southern CA and the East Coast markets, Goldsmith tells investors in a research note. He sees continuing challenges from the demand front and expects SSNOI growth to fall at the lower end of the peer group.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on ESS:
- Essex Property Trust downgraded at Janney on more cautious apartment REITs view
- Essex Property Trust downgraded to Neutral from Buy at Janney Montgomery Scott
- Essex Property Trust downgraded to Sector Weight from Overweight at KeyBanc
- Essex Property Trust price target lowered to $240 from $314 at KeyBanc
- Essex Property Trust price target lowered to $242 from $288 at Morgan Stanley
