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Stocks•8 June 2026•

2 min read

Evercore ISI Raises Price Targets for Simon Property, Essex Property, and T. Rowe Price

Key Facts

1Evercore ISI raised T. Rowe Price's price target to $111 while maintaining an 'In Line' rating.

2The price target for Essex Property Trust was increased to $296 with a reiterated 'Outperform' rating.

3Evercore ISI adjusted Simon Property Group's price target to $208 from $207, maintaining an 'In Line' rating.

In a move reflecting a renewed assessment of the real estate and financial services sectors, Evercore ISI has adjusted the price targets for Simon Property Group, Essex Property Trust, and T. Rowe Price. The firm raised the price target for Simon Property Group to $208 while maintaining an 'In Line' rating, and increased the target for Essex Property Trust to $296 with a reiterated 'Outperform' rating. Additionally, the price target for asset manager T. Rowe Price was raised to $111 with a maintained 'In Line' rating.

These adjustments come as investors monitor the performance of Real Estate Investment Trusts (REITs) amid stabilizing interest rates, with Simon Property Group reporting growth in Funds From Operations (FFO) during the first quarter of 2026 according to recent earnings reports. In comparison to peers, Realty Income (O) is currently trading at levels reflecting similar optimism in the retail real estate sector, while market data shows stable cash flows for major asset managers like BlackRock, which recorded growth in assets under management recently per market data.

Looking at price action, SPG closed at $211.89 (close June 9, 2026), which sits slightly above the new target from Evercore ISI, indicating strong momentum in recent trading sessions that saw a range between $205.18 and $213.08. Traders should watch upcoming U.S. housing data, including the MBA Mortgage Applications scheduled for the coming week, for further signals on the health of the real estate sector and its impact on REITs.