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Fly News Breaks for December 19, 2018
ESS
Dec 19, 2018 | 08:05 EDT
JPMorgan analyst Anthony Paolone downgraded Essex Property Trust to Neutral and lowered his price target for the shares to $277 from $293. The company remains "well situated long-term,: but in the near-term we think it may have a tougher occupancy comp in the first half of 2019, Paolone tells investors in a research note. Further, he thinks the earn-in of market rent growth will not fully be seen until the second half of next year.
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