Essex Property Trust (ESS) has been a topic of much interest lately, subjects ranging from predictions of lower earnings by
Wedbush to an overweight rating from
Piper Sandler. The firm has also priced
$400 million of Senior Notes, showing strategic financial moves. Q4 results have reportedly topped estimates and shown strong revenue growth. Share acquisition by
Kestra Private Wealth Services LLC and increased holdings by
Entropy Technologies LP and
Mirae Asset Global Investments Co. Ltd. have given reassurances despite
Sumitomo Mitsui Trust Group Inc. and
State of Alaska Department of Revenue reducing their stock positions. ESS's debt restructuring plan involves a $400m bond deal that is said to significantly bolster the company's financial health. Interestingly,
Vanderbilt University was reported maintaining a $1.30 million position with ESS. The company has also declared impressive quarterly distributions and updated FY 2025 earnings guidance.
Robeco Institutional Asset Management B.V., among others, however, has reduced its stock position. Furthermore, ESS shares have shown potential for further upside with limited housing supply and are speculated to surge following LA Wildfires recovery efforts. ESS outlined a 3% same-property revenue growth for 2025 amidst stable demand and low supply.
Essex Property Trust ESS News Analytics from Mon, 28 Jun 2021 07:00:00 GMT to Sat, 15 Feb 2025 06:14:30 GMT -
Rating 6
- Innovation 3
- Information 7
- Rumor -2
