Essex Property Trust, Inc. (NYSE:ESS) shares have attracted attention from various investment entities, with several transactions reported recently. Financial institutions including Toronto Dominion Bank and HSBC Holdings reduced their ESS holdings, while others like
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp and ProShare Advisors increased their stakes. Federated Hermes and Virtu Financial also purchased shares of ESS. ESS is reported to be a top momentum pick and a reliable growth stock, although ESS shares experienced a gap down to $309.65. The company received mixed analyst ratings, with a downgrade from Bank of America and target price raises from several others.
Company executives have sold substantial amounts of stock, raising some market concern. ESS' quarterly distributions have been declared and the residential REIT is expected to continually raise its dividend due to high-quality performance. Reports show ESS recently priced a $200 million add-on offering of senior notes and increased its revenue forecast for 2024.
Deal activity spiked with a joint venture acquisition and a multimillion-dollar apartment portfolio purchase. ESS shared optimistic Q2 2024 earnings and raised full-year 2024 guidance. Despite multiple reports of underperforming the market, ESS remained steady and outperformed competitors on strong trading days.
Essex Property Trust ESS News Analytics from Thu, 27 Jan 2022 08:00:00 GMT to Sun, 29 Sep 2024 09:00:56 GMT -
Rating 3
- Innovation 4
- Information 7
- Rumor 1
