Essex Property (ESS) an Attractive Investment, Thinks Analyst

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Imperial Capital today reiterated an Outperform rating on west coast apartment specialist Essex Property Trust (NYSE: ESS) and raised its price target to $175.00 (from $165.00).

"ESS's assets in tech-related Bay Area and Seattle locales continue to post some of the highest growth rates in the country. While Southern California has lagged, the company expressed confidence that the area will show better relative performance in 2013," said analyst David Harris.

Harris thinks the stock's underperformance creates an attractive buying opportunity, and he believes that the company will continue to produce sector beating operating/earnings performance.

For an analyst ratings summary and ratings history on Essex Property Trust (NYSE: ESS) click here. For more ratings news on Essex Property Trust click here.

Shares of Essex Property Trust closed at $154.28 yesterday, with a 52 week range of $136.38-$161.53.

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