Essex Property Trust (NYSE:ESS) has been analyzed by 15 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 1 | 4 | 10 | 0 | 0 |
| Last 30D | 0 | 0 | 2 | 0 | 0 |
| 1M Ago | 0 | 2 | 2 | 0 | 0 |
| 2M Ago | 1 | 1 | 3 | 0 | 0 |
| 3M Ago | 0 | 1 | 3 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $271.03, a high estimate of $315.00, and a low estimate of $240.00. Witnessing a positive shift, the current average has risen by 6.34% from the previous average price target of $254.87.
Breaking Down Analyst Ratings: A Detailed Examination
An in-depth analysis of recent analyst actions unveils how financial experts perceive Essex Property Trust. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Simon Yarmak | Stifel | Raises | Hold | $267.00 | $243.50 |
| Steve Sakwa | Evercore ISI Group | Raises | In-Line | $260.00 | $254.00 |
| Alexander Goldfarb | Piper Sandler | Maintains | Overweight | $315.00 | $315.00 |
| Michael Lewis | Truist Securities | Raises | Hold | $282.00 | $255.00 |
| Anthony Paolone | JP Morgan | Raises | Neutral | $265.00 | $244.00 |
| Nicholas Yulico | Scotiabank | Raises | Sector Outperform | $285.00 | $283.00 |
| James Feldman | Wells Fargo | Raises | Equal-Weight | $269.00 | $232.00 |
| Vikram Malhorta | Mizuho | Raises | Buy | $266.00 | $250.00 |
| Nicholas Yulico | Scotiabank | Raises | Sector Outperform | $283.00 | $256.00 |
| Adam Kramer | Morgan Stanley | Raises | Equal-Weight | $250.00 | $230.00 |
| Michael Goldsmith | UBS | Raises | Neutral | $261.00 | $250.00 |
| Richard Anderson | Wedbush | Raises | Neutral | $264.00 | $240.00 |
| Alexander Goldfarb | Piper Sandler | Raises | Overweight | $315.00 | $291.00 |
| Simon Yarmak | Stifel | Raises | Hold | $243.50 | $239.50 |
| Richard Anderson | Wedbush | Maintains | Neutral | $240.00 | $240.00 |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Essex Property Trust. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Essex Property Trust compared to the broader market.
- Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.
Capture valuable insights into Essex Property Trust's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
Stay up to date on Essex Property Trust analyst ratings.
All You Need to Know About Essex Property Trust
Essex Property Trust owns a portfolio of 252 apartment communities with over 62,000 units and is developing another property with 264 units. The company focuses on owning large, high-quality properties on the West Coast in the urban and suburban submarkets of Southern California, Northern California, and Seattle.
Essex Property Trust's Financial Performance
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Positive Revenue Trend: Examining Essex Property Trust's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 3.52% as of 31 March, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Real Estate sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 63.88%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 4.97%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Essex Property Trust's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 2.16%, the company showcases efficient use of assets and strong financial health.
Debt Management: Essex Property Trust's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.19.
What Are Analyst Ratings?
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.