Essex Property Trust upgraded to Buy-equivalent at Citizens after Q2 earnings announcement (ESS:NYSE)

Essex Property Trust (ESS) received an upgrade to Market Outperform from Citizens following its Q2 earnings announcement. The upgrade is based on the anticipated strong performance of the multi-family residential REIT's Northern California portfolio, with a new price target of $330.00. Shares reacted positively, rising 1.17% to $285.16 in Friday's noon trading.