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 Property Trust, Inc. (NYSE: ESS) is now covered by analysts at Barclays PLC. They set an "equal weight" rating and a $316.00 price target on the stock.MarketBeat
- Essex Property Trust, Inc. (NYSE: ESS) was downgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "underweight" rating. They now have a $303.00 price target on the stock, up previously from $297.00.MarketBeat
- Essex Property Trust Declares Quarterly DistributionsBusiness Wire
- If You Invested $10,000 In Essex Property Trust Stock 10 Years Ago, How Much Would You Have Now? [Yahoo! Finance]Yahoo! Finance
- Essex Announces Third Quarter 2024 Results and Raises Full-Year 2024 GuidanceBusiness Wire
ESS
Earnings
- 10/29/24 - Miss
ESS
Sec Filings
- 12/13/24 - Form 4
- 12/12/24 - Form 4
- 12/12/24 - Form 4
- ESS's page on the SEC website