Essex Property Trust upgraded to Buy at Bofa on northern California outlook [Seeking Alpha]
Essex Property Trust, Inc. (ESS)
Last essex property trust, inc. earnings: 1/29 04:15 pm
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investors.essexapartmenthomes.com
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Source: Seeking Alpha
Monday as analyst Joshua Dennerlein has become more upbeat on the northern California suburban residential market. He sees four drivers for the market: Northern California rent-to-income ratio is ~25% vs. 30% nationally; return-to-office mandates are bringing workers back to the region; employment growth has resumed in the region after job losses in 2023; and 2024 projected supply growth of 1.8% is muted compared with 3.2% nationally. "We note that ESS beat core FFO guidance every quarter in 2023 and ended the year 1.9% above its initial guidance midpoint," Dennerlein wrote in a note to clients. "Noticeably, ESS's FY23 core FFO ($15.03) was above the high end of its initial guidance range ($14.53-$14.97). We believe ESS is positioned for another year of beats/bumps." BofA analysts increased their estimate for Essex Property's ( ESS ) 2024 FFO to $15.29, up from $15.04 previously and 1.0% higher than the Stree's consensus. BofA's 2025 FFO estimate of $16.13 rose from $15.22 prior
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News
- DIAMONDROCK HOSPITALITY COMPANY ANNOUNCES PROMOTION OF STEPHEN SPIERTO TO CHIEF ACCOUNTING OFFICER AND HIRING OF ANIKA FISCHER AS GENERAL COUNSEL [Yahoo! Finance]Yahoo! Finance
- Let's Do What LVMH Does: Buying High-Quality Real Estate [Seeking Alpha]Seeking Alpha
- Essex Property Trust Declares Quarterly DistributionsBusiness Wire
- Essex Property Trust, Inc. (NYSE: ESS) had its price target raised by analysts at Morgan Stanley from $230.00 to $250.00. They now have an "equal weight" rating on the stock.MarketBeat
- Essex Property Trust, Inc. (NYSE: ESS) had its price target raised by analysts at Scotiabank from $256.00 to $283.00. They now have a "sector outperform" rating on the stock.MarketBeat
ESS
Earnings
- 4/30/24 - Beat
ESS
Sec Filings
- 5/16/24 - Form 4
- 5/16/24 - Form 4
- 5/16/24 - Form 4
- ESS's page on the SEC website