Essex Property Trust price target raised to $282 from $255 at Truist

Truist raised the firm’s price target on Essex Property Trust to $282 from $255 and keeps a Hold rating on the shares as part of a broader research note on Apartment REITs updating the firm’s models to reflect current interest rates, cap rates and rent spread trends. Job growth to start the year has been stronger than most management teams expected across most markets, though some near-term conservatism regarding apartment fundamentals may be warranted, the analyst tells investors in a research note.