Essex Property Trust (ESS) Tops Q3 EPS by 5c

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Essex Property Trust (ESS) Continues to Benefit From Driven Job Growth; Canaccord Genuity Reiterates Hold

November 3, 2015 10:25 AM EST

Canaccord Genuity maintained a Hold rating on Essex Property Trust (NYSE: ESS), and raised the price target to $244.00 (from $237.00), following the company's 3Q earnings report. The company's portfolio continues to benefit from strong tech-driven job growth and subsequently rent and demand growth for their properties. However, concerns are beginning to grow with regard to a potential tech bubble as tech valuations and IPOs have stagnated in recent months.

Analyst Ryan Meliker commented, "ESS continues... More