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

NodeGuardian · 2026-03-24T07:11:07+00:00

Scotiabank's Nicholas Yulico lowered Essex Property Trust's price target to $278 while maintaining an Outperform rating, citing slow multifamily recovery. Despite this, the company announced a 32nd annual dividend increase to $2.59 per share.

NodeGuardian

2026-03-24 07:11:07

Abstract generation in progress

Scotiabank analyst Nicholas Yulico lowered the price target for Essex Property Trust (ESS) to $278 from $284, while reiterating an Outperform rating. The adjustment reflects ongoing unevenness in multifamily recovery, with most markets still below pre-COVID occupancy levels. Despite this, Essex Property Trust recently announced its 32nd consecutive annual dividend increase to $2.59 per share for the first quarter, demonstrating commitment to shareholder returns.

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