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

290.34

Mkt cap

19B

Volume

579K

High

295.80

P/E Ratio

25.59

52-wk high

317.73

Low

289.08

Div yield

0.03

52-wk low

230.90

Essex Property Trust (NYSE:ESS) has received various analyst ratings in the last quarter, with 1 bullish, 1 somewhat bullish, and 8 indifferent. The average price target is $253.3, compared to its current price of $215.51, implying an upside. The average price target has increased by 4.0% over the past month.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 4:00 pm

Mizuho analyst Haendel St. Juste maintains a Neutral rating on Essex Property Trust (NYSE:ESS) and lowers the price target from $221 to $219.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 12:11 pm

Three high-yielding dividend stocks in the real estate sector have been highlighted by Wall Street's most accurate analysts. These include Essex Property Trust, Inc. (ESS), UDR, Inc. (UDR), and VICI Properties Inc. (VICI). ESS recently posted better-than-expected Q2 sales results, while UDR reported worse-than-expected Q2 revenue results. VICI's total revenues surged 35.5% YoY to $898.2 million in Q2.

Portfolio Pulse from Lisa Levin

September 19, 2023 | 11:35 am

Wells Fargo analyst James Feldman has maintained an Equal-Weight rating on Essex Property Trust (NYSE:ESS) and lowered the price target from $247 to $244.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 12:46 pm

The article lists five real estate stocks that are currently oversold and could present buying opportunities. These include Altisource Asset Management Corporation (AAMC), NexPoint Diversified Real Estate Trust (NXDT), Alexander & Baldwin, Inc. (ALEX), Essex Property Trust, Inc. (ESS), and Mid-America Apartment Communities, Inc. (MAA). The companies have recently announced changes in leadership, declared dividends, and reported quarterly earnings.

Portfolio Pulse from Lisa Levin

September 12, 2023 | 12:08 pm

U.S. apartment rents might experience negative growth rates as early as next month due to a surge in supply. The annual growth rate stood at 11% a year ago, but rents in August registered a marginal 0.28% rise compared to the same period last year. Elevated mortgage rates, soaring home prices, and limited availability have anchored potential buyers to the rental market. Meanwhile, 460,000 new units are slated for completion this year, marking a 50-year high in construction. This influx is expected to erode landlords' pricing power. Stocks to watch in the housing development space include AvalonBay Communities Inc, UDR Inc, Mid-America Apartment Communities Inc, Apartment Investment and Management Co, and Essex Property Trust Inc.

Portfolio Pulse from AJ Fabino

September 08, 2023 | 8:50 pm

Essex Property Trust's shares are trading lower following downgrades by analysts from Truist and Citigroup.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 4:10 pm

Over the past 3 months, 8 analysts have published their opinion on Essex Property Trust (NYSE:ESS) stock. The average 12-month price target for the stock is $258.75, with a high of $280.00 and a low of $244.00. This average price target has increased by 5.21% over the past month.

Portfolio Pulse from Benzinga Insights

September 08, 2023 | 1:00 pm

Citigroup analyst Michael Bilerman has downgraded Essex Property Trust (NYSE:ESS) from Buy to Neutral and lowered the price target from $280 to $260.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 8:33 am

Truist Securities analyst Michael Lewis has downgraded Essex Property Trust (NYSE:ESS) from Buy to Hold, while raising the price target from $255 to $266.

Portfolio Pulse from richadhand@benzinga.com

August 28, 2023 | 11:35 am

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