In the latest quarter, 16 analysts provided ratings for Essex Property Trust ESS, showcasing a mix of bullish and bearish perspectives.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 1 | 6 | 9 | 0 | 0 |
| Last 30D | 0 | 2 | 1 | 0 | 0 |
| 1M Ago | 0 | 2 | 2 | 0 | 0 |
| 2M Ago | 0 | 1 | 3 | 0 | 0 |
| 3M Ago | 1 | 1 | 3 | 0 | 0 |
In the assessment of 12-month price targets, analysts unveil insights for Essex Property Trust, presenting an average target of $288.56, a high estimate of $355.00, and a low estimate of $260.00. Observing a 7.08% increase, the current average has risen from the previous average price target of $269.47.
Deciphering Analyst Ratings: An In-Depth Analysis
The perception of Essex Property Trust by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Alexander Goldfarb | Piper Sandler | Raises | Overweight | $355.00 | $315.00 |
| Nicholas Yulico | Scotiabank | Raises | Sector Outperform | $309.00 | $290.00 |
| James Feldman | Wells Fargo | Raises | Equal-Weight | $314.00 | $269.00 |
| Nicholas Yulico | Scotiabank | Raises | Sector Outperform | $290.00 | $285.00 |
| Richard Anderson | Wedbush | Raises | Neutral | $301.00 | $264.00 |
| Brad Heffern | RBC Capital | Raises | Outperform | $288.00 | $284.00 |
| Simon Yarmak | Stifel | Raises | Hold | $268.00 | $267.00 |
| Michael Goldsmith | UBS | Raises | Neutral | $283.00 | $261.00 |
| 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 |
Key Insights:
- Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Essex Property Trust. This offers insight into analysts' perspectives on the current state of the company.
- Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Essex Property Trust compared to the broader market.
- Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Essex Property Trust's stock. This examination reveals shifts in analysts' expectations over time.
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Essex Property Trust's market standing. Stay informed and make data-driven decisions with our Ratings Table.
Stay up to date on Essex Property Trust analyst ratings.
Unveiling the Story Behind Essex Property Trust
Essex Property Trust owns a portfolio of 254 apartment communities with over 62,000 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.
Financial Milestones: Essex Property Trust's Journey
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Growth: Over the 3 months period, Essex Property Trust showcased positive performance, achieving a revenue growth rate of 6.32% as of 30 June, 2024. This reflects a substantial increase in the company's 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: Essex Property Trust's net margin excels beyond industry benchmarks, reaching 21.0%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 1.68%, 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 0.73%, the company showcases efficient use of assets and strong financial health.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.16.
How Are Analyst Ratings Determined?
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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