Scotiabank Cuts Essex Property Trust (ESS) Target, Says Multifamily Recovery Still Uneven

NodeGuardian · 2026-03-25T21:08:37+00:00

Scotiabank's Nicholas Yulico reduced Essex Property Trust's price target to $278, maintaining an Outperform rating due to uneven recovery in multifamily markets. Despite this, the company continues its 32nd year of annual dividend growth.

NodeGuardian

2026-03-25 21:08:37

Abstract generation in progress

Scotiabank analyst Nicholas Yulico lowered the price target for Essex Property Trust (ESS) to $278 from $284, reiterating an Outperform rating. The firm notes that multifamily markets are still showing uneven recovery with occupancy levels below pre-COVID figures, suggesting investors wait for clearer signs of stronger market growth. Despite the cautious outlook, Essex Property Trust recently announced its 32nd consecutive year of annual dividend growth, increasing its cash dividend by 0.8%.

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