Compass Point Reiterates a 'Neutral' on Essex Property Trust (ESS); Thesis Affirmed

Compass Point reiterates a 'Neutral' on Essex Property Trust (NYSE: ESS) price target of $140.00.

Analyst, Wilkes Graham, said, "Overall, ESS's results reaffirmed our thesis that the lower average rent (compared to median rents in their respective markets) apartment names should outperform as they are less susceptible to move-outs due to homeownership. The shares appear slightly overvalued at current levels, but including the dividend represent only 5% downside to our price target.

For an analyst ratings summary and ratings history on Essex Property Trust click here. For more ratings news on Essex Property Trust click here.

Shares of Essex Property Trust closed at $151.73 yesterday.

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