Evercore ISI lowered the firm’s price target on Essex Property Trust to $235 from $247 and keeps an In Line rating on the shares. The firm has adjusted price targets across its residential and industrial REIT sector coverage in order to put these stocks “on a level playing field with other valuation changes we’ve made” as part of its Q3 earnings previews, the analyst tells investors in a note titled “Higher Bond Yields Continue To Wreak Havoc.”
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