Essex Property Trust, a leading residential REIT, is enjoying a stellar performance highlighted by a 52-week high for its stock at
$300.15. Multiple financial analysts remain bullish on ESS's outlook, with several raising their price targets for the stock. For instance, Piper Sandler upgraded ESS's target to
$355.00, reflecting the positive sentiment in the market. Interestingly,
Short interest in ESS fell by 17.6% in August indicating a lower chance of stock price dropping. Chester Capital Advisers increased their stake in ESS, highlighting its growth potential. Impressively, Essex has accomplished an add-on offering
$200 million of its Senior Notes due 2034. Further, Essex is gaining attention for its sustainable practices and emphasis on ESG objectives. In terms of acquisitions, Essex has recently acquired its joint venture partner's interest in four communities comprising
1,480 apartment homes. It also maintains robust revenues, beating earnings for Q2 2024 and raising its outlook for 2024. However, several analysts indicate that ESS stock continues to underperform the market despite these gains.
Essex Property Trust ESS News Analytics from Mon, 10 Mar 2014 07:00:00 GMT to Sat, 31 Aug 2024 21:43:55 GMT -
Rating 8
- Innovation 3
- Information 9
- Rumor -6
