Truist analyst Michael Lewis lowered the firm’s price target on Essex Property Trust (ESS) to $273 from $283 and keeps a Hold rating on the shares. The firm is adjusting its model with lower assumed 2026 same-store revenue growth forecast of 2.6%, though it is still “slightly higher” than seven of the eight REIT peers, the analyst tells investors in a research note.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ESS:
- Essex Property Trust downgraded to Hold from Buy at Jefferies
- Essex Property Issues $350M Senior Notes
- Essex Property Announces $350 Million Senior Notes Offering
- Essex Property Trust price target lowered to $290 from $297 at Barclays
- Essex Property Trust price target raised to $284 from $275 at Mizuho