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, Inc. (ESS) has revised its full-year 2024 guidance, projecting a Core FFO per diluted share of $15.03 to $15.43, which is below the $15.52 estimate. The company expects net income per diluted share to increase by $2.92 to a midpoint of $8.24, and forecasts growth in same-property revenues and NOI.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:23 pm

Essex Property Trust (NYSE:ESS) reported Q1 2024 FFO of $3.83 per share, surpassing the analyst consensus estimate of $3.75 by 2.13%.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:18 pm

Essex Property Trust (NYSE:ESS) has received mixed analyst ratings over the past three months, with a total of 13 analysts offering perspectives ranging from bullish to bearish. The average 12-month price target for ESS is $247.31, marking a 2.01% increase from the previous target of $242.44. Analyst actions include maintaining, raising, and lowering ratings and price targets, reflecting varied expectations for the company's performance. Essex Property Trust, with a portfolio of 252 apartment communities, has shown a revenue growth rate of 1.58% and a net margin of 15.5%, indicating strong profitability and effective cost management despite lagging behind industry peers in revenue growth.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 6:01 pm

Wedbush analyst Richard Anderson reiterates a Neutral rating on Essex Property Trust (NYSE:ESS) and maintains a $240 price target.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 4:14 pm

Wall Street's most accurate analysts have provided updates on three real estate stocks with over 4% dividend yields: STAG Industrial, Host Hotels & Resorts, and Essex Property Trust. These updates include changes in ratings and price targets, reflecting the analysts' views on the stocks' future performance. The companies are expected to release their first quarter 2024 financial results soon, which could influence their stock prices.

Portfolio Pulse from Avi Kapoor

April 17, 2024 | 11:59 am

Essex Property Trust (NYSE:ESS) received mixed reviews from 13 analysts, with a spectrum of ratings from bullish to bearish. The average 12-month price target is $250.08, reflecting a 2.41% increase from the previous target. The company's financial performance shows strong market presence, revenue growth, and profitability, with a focus on high-quality properties on the West Coast. Analysts' actions and price target adjustments indicate varying confidence in the company's future performance.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 6:01 pm

Truist Securities analyst Michael Lewis maintains a Hold rating on Essex Property Trust (NYSE:ESS) and lowers the price target from $259 to $255.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 5:32 pm

B of A Securities analyst Joshua Dennerlein upgraded Essex Property Trust (NYSE:ESS) from Neutral to Buy and increased the price target from $250 to $275.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 5:56 pm

Truist Securities analyst Michael Lewis maintains a Hold rating on Essex Property Trust (NYSE:ESS) and lowers the price target from $276 to $259.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 3:38 pm

Piper Sandler analyst Alexander Goldfarb maintains an Overweight rating on Essex Property Trust (NYSE:ESS) with a price target of $291.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 12:06 pm

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