RBC Capital analyst Brad Heffern lowered the firm’s price target on Essex Property Trust (ESS) to $309 from $311 and keeps an Outperform rating on the shares. The firm notes the company’s Q1 results were better than it expected, and while guidance was left unchanged and Q2 blended spread guidance was below its expectations, management made it clear that this was an attempt to be conservative against an uncertain macro backdrop.
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Read More on ESS:
- Essex Property Trust Reports Q1 2025 Results
- Essex Property Trust Q1 Earnings: Optimism Amid Challenges
- Essex Property Trust price target raised to $301.50 from $299 at Stifel
- Essex Property’s Strong Performance and Strategic Initiatives Justify Buy Rating
- Essex Property Trust reports Q1 core FFO $3.97, consensus $3.92