Bank of America analysts downgrade 3 residential REITs [Seeking Alpha]
Essex Property Trust, Inc. (ESS)
Last essex property trust, inc. earnings: 1/29 04:15 pm
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Source: Seeking Alpha
Essex Property Trust ( NYSE: ESS ) and Equity Residential ( NYSE: EQR ) were downgraded to Neutral from Buy, citing that coastal apartments look fully priced. "Our move to Neutral is driven by our view that the labor market softening will be most acutely felt in ESS's coastal portfolio," the financial institution said in a research note. "Coastal rent growth looks weaker than normal seasonality," said the note. The rating on ESS aligns with the average Wall Street analyst rating and Seeking Alpha's Quant Rating of Hold. For EQR, the move to Neutral is driven by BoA's view that the labor market softening will most acutely be felt in the company's urban and coastal portfolio. "Given EQR's tilt towards urban apartments, we believe it will face the most headwinds from demographics," said the note. New lease rate appears weaker than normal seasonality, according to the note. SA authors also rate EQR as Hold, while the sell-side analysts and the Quant Rating system grades the
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News
- Essex Announces Third Quarter 2024 Results and Raises Full-Year 2024 GuidanceBusiness Wire
- Looking For Yields: Duke Energy, Spire And Essex Property Trust Are Consistent Moneymakers [Yahoo! Finance]Yahoo! Finance
- Gear Up for Essex Property Trust (ESS) Q3 Earnings: Wall Street Estimates for Key Metrics [Yahoo! Finance]Yahoo! Finance
- Big Real Estate Raises $140 Million to Kill Rent Control and Attack AHF (Yes on 33) [Yahoo! Finance]Yahoo! Finance
- Essex Property Trust, Inc. (NYSE: ESS) was downgraded by analysts at Raymond James from an "outperform" rating to a "market perform" rating.MarketBeat
ESS
Earnings
- 10/29/24 - Miss
ESS
Sec Filings
- 11/14/24 - Form SC
- 10/16/24 - Form SC
- 9/19/24 - Form 4
- ESS's page on the SEC website