Scotiabank raised the firm’s price target on Essex Property Trust to $290 from $285 and keeps an Outperform rating on the shares. Following Q2 results, the firm is relatively mixed on the Real Estate & REITs sector, the analyst tells investors. U.S REIT’s relative valuation is now in-line with the S&P 500 following recent volatility while Senior Housing Operating fundamentals reinforced the strong same story net operating income growth story.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ESS:
- Essex Property Trust files automatic mixed securities shelf
- Essex Property Trust reports FY24 core FFO $15.38-$15.62, consensus $15.41
- Essex Property Trust reports Q2 core FFO $3.94, consensus $3.84
- ESS Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Citi sees little financial risk to apartment REITs from reported Biden plan