Barclays analyst Anthony Powell raised the firm’s price target on Essex Property Trust to $226 from $219 and keeps an Underweight rating on the shares. Following the Q4 earnings, the analyst believes it is important for apartment real estate investment trust investors to have exposure to New York City, citing "strong" rent growth outlook and moderate supply growth in 2023.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on ESS:
- Essex Property Trust raises annual dividend 5%
- Essex Property Trust price target raised to $246 from $235 at Mizuho
- Essex Property Trust reports Q4 core FFO $3.77, consensus $3.74
- Housing downturn could fuel gains for residential REITs, Barron’s says
- Essex Property Trust price target raised to $250 from $247 at Truist