Analyst Ratings Coverage
On Thursday November 9th, BMO Capital Markets (RANK#9) upgraded Essex Property trust to Market perform, but lowered the 12 month target forecast on the stock to $225 from $235 per share.
ESS Stock Analysis
Analyzing the forecast for Essex Property Trust Inc provides valuable insights into the expectations and sentiments of financial analysts. As of the latest information, the average target price projected by 14 analysts for Essex Property Trust Inc over the next 12 months is USD 243.34. This figure serves as a benchmark for investors, indicating the anticipated future value of the company’s stock.
The consensus among analysts is labeled as “Hold,” suggesting a neutral stance on Essex Property Trust Inc. This implies that the stock is expected to perform steadily without significant upward or downward trends in the near term. It’s essential for investors to consider this rating along with other factors, such as individual risk tolerance and investment goals, when making decisions.
Stock Target Advisor, in its independent analysis, rates Essex Property Trust Inc as “Neutral.” This assessment is derived from a balance of 8 positive signals and 8 negative signals. These signals could include various financial metrics, market conditions, and other relevant factors that contribute to the overall evaluation of the stock.
As of the last closing, Essex Property Trust Inc’s stock was valued at USD 210.88. Over the past week, the stock price experienced a modest increase of +1.45%, while it decreased by -2.34% over the past month. However, the stock has shown resilience over the last year with a positive change of +1.41%.
About Essex Property
Essex Property Trust, Inc. (NYSE: ESS) is a real estate investment trust (REIT) that primarily focuses on the acquisition, development, redevelopment, and management of multifamily residential properties. As of my knowledge cutoff date in January 2022, here is some general information about Essex Property Trust:
- Portfolio: Essex Property Trust primarily operates in high-growth markets on the West Coast of the United States, including Southern California, Northern California, and the Seattle metropolitan area. The company’s portfolio typically includes apartment communities.
- Property Types: Essex’s properties include a range of multifamily housing options, such as garden-style apartments, mid-rise and high-rise apartments, and mixed-use properties that combine residential units with retail space.
- Business Strategy: The company’s strategy involves acquiring well-located properties in markets with high barriers to entry and strong demand for rental housing. Essex focuses on managing and enhancing the value of its properties through strategic development and redevelopment projects.
- Sustainable Practices: Like many modern real estate companies, Essex Property Trust places an emphasis on sustainability and environmentally friendly practices. This includes efforts to make properties more energy-efficient and environmentally conscious.
- Financial Performance: The financial performance of Essex Property Trust is subject to various market and economic factors, including rental demand, interest rates, and overall economic conditions. Investors often look at key financial metrics such as funds from operations (FFO) when assessing the performance of REITs.
- Dividend Payments: Being a REIT, Essex Property Trust is required to distribute a significant portion of its taxable income to shareholders in the form of dividends. Investors interested in income-generating investments may find REITs appealing for their dividend distributions.
