Essex Property falls after BMO cuts PT

Essex Property Trust

09/11/2023 15:42

** Real estate investment trust Essex Property Trust Inc
 ESS.N  falls 1.4% to $207.92 
    ** BMO Capital Markets cuts co's price target to $225 from
$235, citing weaker quarterly leasing results than peers
    ** The new price target represents a ~7% upside to the
stock's last close $210.88
    ** Brokerage raises ESS's rating to "market perform" from
"underperform" on favorable FY 2024 supply-demand outlook
    ** Three of 24 brokerages rate the stock "buy", 18 "hold"
and three "sell" or lower; their median PT is $233.50
    ** Up to Wednesday's close, stock had fallen ~2% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))