2022-05-04 08:10:35 ESS Essex Property Trust
05/04/22 05/0408:10 05/04/2208:10 | Essex Property Trust price target lowered to $400 from $420 at Piper SandlerPiper Sandler analyst Alexander Goldfarb lowered the firm's price target on Essex Property Trust to $400 from $420 and keeps an Overweight rating on the shares. So far earnings season has met expectations for real estate, with retail, industrial, and sunbelt apartments showing their strength, Goldfarb tells investors in a research note. The big surprise was the negative GDP print for Q1, which could mean a recession comes sooner than the market expects, the analyst contends. The negative GDP release caused Goldfarb to revise his interest rate hike assumptions - now 50 basis points per quarter through Q1 of 2023 versus previously through Q4 of 2023. |
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