Streetbeat News

ESS

Essex Property Trust, Inc.

https://www.essexapartmenthomes.com

Industry

REIT - Residential

Essex Property Trust, Inc., an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.

Open

301.41

Mkt cap

19B

Volume

143K

High

303.25

P/E Ratio

35.06

52-wk high

317.73

Low

298.55

Div yield

0.03

52-wk low

223.06

Essex Property Trust has seen a 35% increase in its stock price over the past year due to limited new apartment supply in California and its strategic geographic positioning. The company expects 4-5% growth in FFO and has a fair value target of $320-325.

Portfolio Pulse from

December 06, 2024 | 11:15 am

Essex Property Trust (ESS) is positioned for future growth due to its strong property base in the West Coast market, technology initiatives, and a healthy balance sheet. However, the high supply of rental units poses a challenge.

Portfolio Pulse from

December 04, 2024 | 2:45 pm

ESS Tech offers innovative iron flow batteries for utilities, providing a cost-effective and durable energy storage solution. With a 10-year performance guarantee, ESS is poised for market entry, supported by strategic partnerships. The global demand for long-duration energy storage is expected to reach 1000GW by 2030, presenting a significant opportunity.

Portfolio Pulse from

November 19, 2024 | 1:45 pm

ESS Tech, Inc. reported its financial results for the third quarter of 2024, highlighting its strong market position in long-duration energy storage systems for commercial and utility-scale applications.

Portfolio Pulse from

November 13, 2024 | 9:15 pm

Essex Property Trust (ESS) has seen a 16.7% increase in its stock price over the past six months. The company is expected to benefit from strong West Coast market fundamentals and a robust balance sheet, which may support further stock price growth.

Portfolio Pulse from

November 12, 2024 | 2:45 pm

Essex Property Trust has announced its forecast for the fiscal year 2024, expecting core funds from operations (FFO) to be between $15.50 and $15.62.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 8:17 pm

Essex Property Trust reported its Q3 2024 Core Funds From Operations (FFO) at $3.91, surpassing the estimated $3.88.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 8:16 pm

Raymond James analyst Buck Horne has downgraded Essex Property Trust (NYSE:ESS) from Outperform to Market Perform.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 1:16 pm

Essex Property Trust (NYSE:ESS) has seen a 27.59% increase in its short percent of float, now at 1.85% of available shares. This is below the peer group average of 3.65%. The rise in short interest suggests a more bearish sentiment, but it doesn't guarantee a price drop.

Portfolio Pulse from Benzinga Insights

October 18, 2024 | 2:45 pm

B of A Securities has downgraded Essex Property Trust from Buy to Neutral, while raising the price target from $307 to $321.

Portfolio Pulse from Benzinga Newsdesk

September 24, 2024 | 3:17 pm

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