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Fly News Breaks for June 8, 2016
ESS
Jun 8, 2016 | 05:39 EDT
Jefferies analyst Omotayo Okusanya downgraded Essex Property Trust to Hold with a $230 price target after lowering the Apartment REITs sector from a Positive view to a Neutral view. Key coastal markets are beginning to slow down due to "supply and rent fatigue," Okusanya tells investors in a research note. The analyst expects disappointing spring leasing season trends to extend into the second half of 2016.
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