Goldman Sachs reduced its exposure to the US real estate and homebuilding sectors, trimming its stakes in Essex Property Trust by 9.5% and NVR by 12.1%. The market saw mixed institutional activity as Cohen & Steers executed a significant sale in Essex, while firms like Geode Capital Management increased their positions. Additionally, Scotiabank adjusted its outlook on the sector, raising price targets for Essex Property Trust and Public Storage while lowering the target for Welltower Inc. despite maintaining outperform ratings.
