Stifel analyst Simon Yarmak lowered the firm’s price target on Essex Property Trust to $245 from $260 and keeps a Buy rating on the shares. The company reported a Q1 core FFO that came in above the firm’s and the Street’s estimates, the analyst tells investors. According to the company, this beat was driven by lower delinquency and higher occupancy, Stifel says.
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Published first on TheFly
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