Piper Sandler raised the firm’s price target on Essex Property Trust (ESS) to $370 from $355 and keeps an Overweight rating on the shares. The firm sees the pre-election transaction pause giving way to a resumption of decision-making, whether leasing, capital markets, fund-raising, etc. Piper believes the direction of interest rates remains critical.
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Read More on ESS:
- Essex Property Trust Raises 2024 Guidance After Strong Quarter
- Essex Property Trust reports Q3 core FFO $3.91 , consensus $3.88
- Essex Property narrows FY24 core FFO view to $15.50-15.62 from $15.38-$15.62
- Essex Property Trust (ESS) Q3 Earnings Cheat Sheet
- Essex Property downgraded to Market Perform from Outperform at Raymond James