Cantor Fitzgerald raised the firm's price target on Essex Property Trust to $291 from $290 and keeps an Overweight rating on the shares. The firm updated models in the multifamily real estate investment trust space following the Q1 reports. While deliveries of new multifamily products continue their downward trend, the "extended tail of supply" continues to hamper companies' ability to generate positive new lease rate growth, the analyst tells investors in a research note.
