Barclays Maintains Underweight Rating for Essex Property Trust: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Barclays has maintained its Underweight rating for Essex Property Trust (NYSE:ESS) but raised its price target from $224.00 to $225.00. Despite this, ESS shares are trading at $235.37, indicating a potential 4.41% decrease if it moves to the target price. Essex Property Trust owns and is developing a significant portfolio of apartment communities on the West Coast.
February 20, 2024 | 5:00 pm
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Barclays maintains its Underweight rating on Essex Property Trust but raises its price target slightly from $224 to $225, with the current share price at $235.37.
The maintenance of the Underweight rating by Barclays, despite a slight increase in the price target, suggests a cautious outlook on ESS. The current trading price being above the target indicates potential downward pressure on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100