Essex Property Trust Stock (NYSE:ESS), Trade Ideas

Essex Property Trust

Essex Property Trust owns a portfolio of 252 apartment communities with over 62,000 units and is developing another property with 264 units. The company focuses on owning large, high-quality properties on the West Coast in the urban and suburban submarkets of Southern California, Northern California, and Seattle.

News

Dividends

Price Target

Pre-Market Outlook

Markets

Analyst Ratings

Trading Ideas

Real Estate

STAG

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a  high dividend payout. 

Wall Street&#39;s Most Accurate Analysts&#39; Views On 3 Real Estate Stocks With Over 4% Dividend Yields

Aerial photo of residential neighborhood

Analyst Drops Price Targets On 8 Residential REITs In One Day

Buy,Or,Sell,Buttons,Concept.,Close,Up,Computer,Screen,View

REIT

AMZN

Analysts Just Upgraded These 4 REITs

Essex Property Trust Inc

ESSA Bancorp Inc

Earth Search Sciences Inc

BANGCHAK SRIRACHA PCL by BANGCHAK SRIRACHA PUB CO LTD.

Bangchak Sriracha PCL

ESS Tech Inc

ESSA Pharma Inc

Essent Group Ltd

Essential Energy Services Ltd

Essential Metals Ltd

Essential Properties Realty Trust, Inc. Common Stock

Essential Properties Realty Trust Inc

Essential Utilities Inc

Essentium Inc

Essentra PLC

Essilorluxottica

ESSILOR LXTTCA UNSP/ADR by EssilorLuxottica

ESSITY AKTIEBOLAG ORD by Essity Aktiebolag Publ

Essity AB

essensys PLC

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a <a href="https://www.benzinga.com/yield-investments"> high dividend payout. </a>
Benzinga readers can review the latest analyst takes on&nbsp;their favorite stocks&nbsp;by visiting our&nbsp;<a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings&nbsp;</a>page. Traders can sort through Benzinga&#39;s extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie"> by analyst accuracy </a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the real estate sector.
<h3>STAG Industrial, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stag#NYSE">STAG</a>)</h3>
<ul>
<li>Dividend Yield: 4.15%</li>
<li>Baird analyst David Rodgers downgraded the stock from Outperform to Neutral and increased the price target from $38 to $41 on Jan. 5, 2024. This analyst has an accuracy rate of 61%.</li>
<li>Raymond James analyst William Crow maintained an Outperform rating rating and cut the price target from $39 to $37 on Oct. 31, 2023. This analyst has an accuracy rate of 71%.</li>
<li>Recent News: STAG Industrial is expected to release its first quarter 2024 operating and financial results after the closing bell on April 30, 2024.</li>
</ul>
<h3>Host Hotels &amp; Resorts, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hst#NASDAQ">HST</a>)</h3>
<ul>
<li>Dividend Yield: 4.19%</li>
<li>Raymond James analyst William Crow maintained an Outperform rating and boosted the price target from $19 to $23 on March 15, 2024. This analyst has an accuracy rate of 71%.</li>
<li>Truist Securities analyst Patrick Scholes maintained a Hold rating and increased the price target from $21 to $24 on March 14, 2024. This analyst has an accuracy rate of 72%.</li>
<li>Recent News: Host Hotels &amp; Resorts is expected to report first quarter 2024 financial results on May 1, 2024, after the closing bell.</li>
</ul>
<h3>Essex Property Trust, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ess#NYSE">ESS</a>)</h3>
<ul>
<li>Dividend Yield: 4.21%</li>
<li>Raymond James analyst Buck Horne upgraded the stock from Market Perform to Outperform with a price target of $265 on March 18, 2024. This analyst has an accuracy rate of 74%.</li>
<li>Stifel analyst Simon Yarmak maintained a Hold rating and cut the price target from $225 to $223 on Feb. 7, 2024. This analyst has an accuracy rate of 63%.</li>
<li>Recent News: Essex Property Trust is expected to release its first quarter 2024 earnings after the closing bell on April 30, 2024.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/24/04/38284954/abbott-laboratories-u-s-bancorp-and-3-stocks-to-watch-heading-into-wednesday"> Abbott Laboratories, U.S. Bancorp And 3 Stocks To Watch Heading Into Wednesday</a>

Wall Street's Most Accurate Analysts' Views On 3 Real Estate Stocks With Over 4% Dividend Yields

Right or wrong, investors rely on the opinions of Wall Street analysts a great deal when evaluating which stocks will appreciate the most. An analyst's projection of the future price of a security is called a price target and encompasses a 12- to 18-month outlook. The best analysts are only correct about 50% of the time because it's difficult to predict economic trends so far out into the future, and there are always unexpected positive or negative events in a company that can affect its stock performance.
Nevertheless, any time an analyst changes a rating or price target on a stock, it can also affect its price, at least in the short term.
On April 9, Truist analyst Michael Lewis maintained previous positions on nine residential real estate investment trusts (REITs) but reduced the price targets on eight of them. Take a look at some of the REITs that were given reduced targets.
Don't Miss:
<ul>
<li>Investing in real estate just got a whole lot simpler. This <a href="https://www.benzinga.com/go/bezos-landlord">Jeff Bezos-backed startup will allow you to become a landlord</a> in just 10 minutes, and you only need $100.</li>
<li>Elon Musk Is Bullish On Austin. Here&#8217;s <a href="https://www.benzinga.com/go/musk-austin">How To Invest In The City&#8217;s Growth Before He Floods It With New Tech Workers</a>.</li>
</ul>
Mid-America Apartment Communities Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAA#NYSE">MAA</a>) is a self-administered residential REIT that specializes in purchasing and leasing apartment complexes. As of Dec. 31, it owned over 102,000 units in 300 communities in 16 states and Washington, D.C. Most of Mid-America Apartment Communities' properties are in the Southeast, Southwest and Mid-Atlantic states.
Mid-America Apartment Communities is a member of the S&amp;P 500 and has been a public company for 30 years. Mid-America has paid 120 consecutive quarterly cash dividends since its initial public offering (IPO) in 1994. At the end of 2023, same-store occupancy was 95.5%.
On April 8, Mid-America announced it will release its first-quarter 2024 operating results after the market closes on May 1.
On April 9, Truist analyst Michael Lewis maintained Mid-America Apartment with a Buy rating but lowered the price target from $152 to $148.
Trending
<ul>
<li>Want To Grow Your Wealth Passively? <a href="https://www.benzinga.com/go/grow-wealth-passively">These High-Yield Real Estate Notes Might Be Your Holy Grail</a></li>
</ul>
Essex Property Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) is a residential REIT that owns and operates 252 apartment communities, with 62,000 units in the West Coast states of California and Washington. Essex Property Trust is a member of the S&amp;P 500 and a Dividend Aristocrat.
On March 25, Essex Property Trust acquired JV Partner's 49.9% interest in four apartment communities with 1,480 units for a total purchase price of $505 million.
On April 5, Essex Property Trust announced it would release first-quarter operating results after the market close on April 30.
On April 9, analyst Lewis maintained Essex Property Trust with a Hold rating but added a small price target reduction from $259 to $255.&nbsp; This was in sharp contrast to Bank of America Securities analyst Joshua Dennerlein, who on April 1 upgraded Essex Property Trust from Neutral to Buy and raised the price target by 10% from $250 to $275.
AvalonBay Communities Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVB#NYSE">AVB</a>) is a residential REIT that acquires, develops and manages multifamily communities. As of Dec. 31, AvalonBay Communities owned approximately 90,669 apartments directly or indirectly in 299 communities across 12 states and Washington, D.C.&nbsp;&nbsp;
On Jan. 31, AvalonBay posted its fourth-quarter operating results. Core funds from operations (FFO) of $2.74 were in line with estimates, but up from $2.59 in the fourth quarter of 2022. Revenue of $702.7 million beat the estimates of $700.16 million and was 5.45% above revenue of $666.39 million in the fourth quarter of 2022.
On April 9, analyst Lewis maintained AvalonBay Communities with a Hold rating but slightly lowered the price target from $201 to $197. Avalon will release its first-quarter 2024 earnings after the market closes on April 25.&nbsp;
The five other residential REITs that analyst Lewis lowered price targets on were:&nbsp;
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>REIT NAME</td>
<td>SYMBOL</td>
<td>RATING</td>
<td>OLD PRICE TARGET</td>
<td>NEW PRICE TARGET</td>
<td>% DECLINE</td>
</tr>
<tr>
<td>Apartment Income REIT Corp.</td>
<td>AIRC</td>
<td>Buy</td>
<td>$40</td>
<td>$37</td>
<td>7.5%</td>
</tr>
<tr>
<td>Equity Residential</td>
<td>EQR</td>
<td>Buy</td>
<td>$71</td>
<td>$67</td>
<td>5.6%</td>
</tr>
<tr>
<td>NexPoint Residential Trust Inc.</td>
<td>NXRT</td>
<td>Hold</td>
<td>$37</td>
<td>$35</td>
<td>5.4%</td>
</tr>
<tr>
<td>UDR Inc.</td>
<td>UDR</td>
<td>Buy</td>
<td>$45</td>
<td>$42</td>
<td>6.6%</td>
</tr>
<tr>
<td>Veris Residential Inc.</td>
<td>VRE</td>
<td>Hold</td>
<td>$15</td>
<td>$14</td>
<td>6.6%</td>
</tr>
</tbody>
</table>
</figure>
Camden Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPT#NYSE">CPT</a>) was the lone residential REIT for which Lewis raised the price target. He maintained a Buy rating and raised the price target from $113 to $114.
Camden Property Trust is a Houston-based residential REIT that owns and manages 172 properties with 58,634 units in 15 major cities across the U.S. Some of its apartment complexes also contain ground-floor retail space, offices or mixed-use space. It's a member of the S&amp;P 500 and had its IPO in 1993. At the end of the third quarter of 2023, its occupancy rate was 95%.
Lewis covers the real estate sector. He has 157 ratings with a 58.1% Smart Score and an overall average return of 2.75%.
&nbsp;Read Next:
<ul>
<li>Miami Is Expected To Take New York's Place As The US Financial Capital. <a href="https://www.benzinga.com/go/miami-financial-capital">Invest In It With $500 Before That Happens</a>.</li>
<li>Searching for income? <a href="https://www.benzinga.com/go/3-high-yield-investments">3 High-Yield Investments To Boost Your Portfolio's Income</a>.</li>
</ul>

Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) underwent analysis by 13 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $250.08, a high estimate of $291.00, and a low estimate of $223.00. This current average reflects an increase of 2.41% from the previous average price target of $244.20. 
<img src="https://www.benzinga.com/files/images/story/2024/1712685656_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
A comprehensive examination of how financial experts perceive Essex Property Trust is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Michael Lewis</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$255.00</td>
<td>$259.00</td>
</tr>
<tr>
<td>Joshua Dennerlein</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$275.00</td>
<td>$250.00</td>
</tr>
<tr>
<td>Michael Lewis</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$259.00</td>
<td>$276.00</td>
</tr>
<tr>
<td>Alexander Goldfarb</td>
<td>Piper Sandler</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$291.00</td>
<td>-</td>
</tr>
<tr>
<td>Buck Horne</td>
<td>Raymond James</td>
<td>Announces</td>
<td>Outperform</td>
<td>$265.00</td>
<td>-</td>
</tr>
<tr>
<td>Wesley Golladay</td>
<td>Baird</td>
<td>Raises</td>
<td>Neutral</td>
<td>$236.00</td>
<td>$229.00</td>
</tr>
<tr>
<td>Vikram Malhorta</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Buy</td>
<td>$250.00</td>
<td>$255.00</td>
</tr>
<tr>
<td>Adam Kramer</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$230.00</td>
<td>$227.00</td>
</tr>
<tr>
<td>Chandni Luthra</td>
<td>Goldman Sachs</td>
<td>Announces</td>
<td>Sell</td>
<td>$227.00</td>
<td>-</td>
</tr>
<tr>
<td>Anthony Powell</td>
<td>Barclays</td>
<td>Raises</td>
<td>Underweight</td>
<td>$225.00</td>
<td>$224.00</td>
</tr>
<tr>
<td>Brad Heffern</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$239.00</td>
<td>$237.00</td>
</tr>
<tr>
<td>Simon Yarmak</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Hold</td>
<td>$223.00</td>
<td>$225.00</td>
</tr>
<tr>
<td>Michael Lewis</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$276.00</td>
<td>$260.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Essex Property Trust. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Essex Property Trust compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Essex Property Trust's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Essex Property Trust's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ESS/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Essex Property Trust analyst ratings.</a>
<h2>Discovering Essex Property Trust: A Closer Look</h2>
Essex Property Trust owns a portfolio of 252 apartment communities with over 62,000 units and is developing another property with 264 units. The company focuses on owning large, high-quality properties on the West Coast in the urban and suburban submarkets of Southern California, Northern California, and Seattle.
<h3>Financial Milestones: Essex Property Trust's Journey</h3>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Revenue Growth: Essex Property Trust's revenue growth over a period of 3 months has been noteworthy. As of 31 December, 2023, the company achieved a revenue growth rate of approximately 1.58%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Real Estate sector.
Net Margin: Essex Property Trust's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 15.5%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Essex Property Trust's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.19% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Essex Property Trust's ROA excels beyond industry benchmarks, reaching 0.53%. This signifies efficient management of assets and strong financial health.
Debt Management: Essex Property Trust's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.16.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What 13 Analyst Ratings Have To Say About Essex Property Trust

Truist Securities analyst Michael Lewis maintains Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) with a Hold and lowers the price target from $259 to $255.

Truist Securities Maintains Hold on Essex Property Trust, Lowers Price Target to $255

The start of the second quarter of 2024 has been challenging for real estate investment trusts (REITs). On Good Friday, when Federal Reserve Chairman Jerome Powell noted that higher-than-expected strength in job gains and inflation may delay or reduce interest rate cuts in 2024, markets again sold off interest rate-sensitive stocks such as REITs.
Despite the latest disappointment, there was some good news last week, as analysts upgraded several REITs and raised price targets on many others while still maintaining previous ratings.
Take a look at four REITs that analysts at Bank of America Securities recently upgraded.
Tanger Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>), formerly Tanger Factory Outlet Centers Inc., is a Greensboro, North Carolina-based retail REIT that owns 40 indoor shopping centers and outdoor factory outlet malls with 15.6 million square feet and over 3,000 stores across 20 states and Canada. Tanger Factory Outlet Centers was founded in 1981 and had its initial public offering (IPO) in May 1993. Tanger's occupancy rate at the end of 2023 was 97.3%.&nbsp;
On Feb. 15, Tanger reported excellent fourth-quarter operating results. Funds from operations (FFO) of $0.52 beat the estimate of $0.50. Revenue of $127.48 million beat the estimate of $119.04 million and was 9.46% above revenue from the fourth quarter of 2022 of $116.46 million. Additionally, full-year core FFO was announced in a range from $2.01-$2.09 per share, with a midpoint above the analyst consensus estimate of $2.03 per share.
Tanger was the second-leading REIT overall in 2023, with a total return of 63.58%, negating the popular notion that in-store retail shopping has lost out to Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and other online websites.
On April 5, Bank of America Securities analyst Jeffrey Spector upgraded Tanger from Underperform to Neutral and raised the price target 29.1% from $24 to $31. On March 22, Citigroup analyst Michael Bilerman also upgraded Tanger from Neutral to Buy and raised the price target from $30 to $33.&nbsp;&nbsp;&nbsp;
Acadia Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AKR#NYSE">AKR</a>) is a Rye, New York-based retail REIT with 189 properties (as of the fourth quarter of 2023) across centralized urban areas in 22 states and Washington, D.C. The overall lease rate is approximately 95% with annual rent increases of 3%.
On April 5, Bank of America Securities analyst Craig Schmidt upgraded Acadia Realty Trust from Neutral to Buy and raised the price target by 11.1% from $18 to $20. This upgrade could not have come at a better time, as many retail REITs, including Acadia Realty, were getting hit hard last week following Powell's remarks.
Acadia will announce its first-quarter 2024 earnings on April 29.&nbsp;
Essex Property Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) is a residential REIT that owns and operates 252 apartment communities with 62,000 units in the West Coast states of California and Washington. Essex Property Trust is a member of the S&amp;P 500 and a Dividend Aristocrat.&nbsp;
On March 25, Essex Property Trust acquired JV Partner's 49.9% interest in four apartment communities, with 1,480 units for a total purchase price of $505 million.&nbsp;
On April 1, Bank of America Securities analyst Joshua Dennerlein upgraded Essex Property Trust from Neutral to Buy and raised the price target by 10% from $250 to $275.
Analyst price targets vary widely. Within the past two weeks, Truist Securities has maintained a Hold on Essex with a $259 price target, and Piper Sandler has maintained an Overweight position and a $291 price target.&nbsp;
Healthpeak Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOC#NYSE">DOC</a>) is an El Segundo, California-based diversified healthcare REIT that owns and operates private-pay facilities such as life science centers, medical offices and continuing care retirement communities. Although it has properties across the country, most are in the San Francisco, San Diego and Boston areas.&nbsp;
Healthpeak's IPO was created in 1985, and it was added to the S&amp;P 500 in 2008. It owns 477 properties totaling over 50 million square feet with over 2,500 tenants, worth over $20 billion.
On March 1, Healthpeak officially merged with Physicians Realty Trust in an all-stock-for-stock transaction.&nbsp;
On April 1, Bank of America Securities analyst Dennerlein upgraded Healthpeak Properties from Underperform to Buy, while raising the price target 38.8% from $18 to $25.&nbsp;
Healthpeak will announce its first-quarter 2024 earnings on April 26.
<h2 class="wp-block-heading">Explore Opportunities Beyond REITs</h2>
While publicly traded REITs offer a convenient way to invest in real estate, we believe that some of the most compelling opportunities lie in the private market. Benzinga's <a href="https://www.benzinga.com/go/real-estate-screener">real estate offering screener</a> features a curated selection of private market real estate offerings from trusted platforms with a track record of strong returns.
Whether you&#8217;re an accredited or non-accredited investor, you can filter opportunities based on your investment criteria, including minimum investment, property type and target return. These offerings provide a unique chance to diversify your portfolio and tap into potential high-yield investments that are not available on public exchanges.
<a href="https://www.benzinga.com/go/real-estate-screener">Browse offerings</a>
Latest Private Market Offerings
<ul>
<li><a href="https://www.benzinga.com/alternative-investments/listing/qoz-fund-iii">QOZ Fund III</a>: Realize massive tax benefits by investing in a portfolio of multifamily development projects with long-term growth potential located in designated Opportunity Zones.</li>
<li><a href="https://www.benzinga.com/alternative-investments/listing/incomeplus-fund">Income Plus Fund:</a> A private real estate fund for investors seeking passive income and appreciation &#8211; Target net annual return of 9% &#8211; 11%.&nbsp;</li>
<li><a href="https://www.benzinga.com/alternative-investments/listing/gold-leaf-farming-lp">Golden Leaf Farming LP</a>: Top-tier almond and pistachio farms with a target cash yield of 13.8%</li>
</ul>
Discover these and other exclusive real estate investment opportunities on Benzinga's offering screener. Dive into the private market and uncover the potential for substantial returns beyond the public REIT market.

B of A Securities analyst Joshua Dennerlein upgrades Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) from Neutral to Buy and raises the price target from $250 to $275.

Upgrades

B of A Securities Upgrades Essex Property Trust to Buy, Raises Price Target to $275

Truist Securities analyst Michael Lewis maintains Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) with a Hold and lowers the price target from $276 to $259.

Truist Securities Maintains Hold on Essex Property Trust, Lowers Price Target to $259

Piper Sandler analyst Alexander Goldfarb maintains Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) with a Overweight and maintains $291 price target.

Piper Sandler Maintains Overweight on Essex Property Trust, Maintains $291 Price Target

The portfolio is comprised of four properties totaling 1,480 apartment homes. The portfolio generated an 11.4% IRR and the Company will recognize approximately $1.5 million in promote income, which will be excluded from Core FFO.

Essex Property Trust Acquires JV Partner's 49.9% Interest In Four Communities For Total Purchase Price Of $505M On A Gross Basis

Across the recent three months, 11 analysts have shared their insights on Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $246.18, a high estimate of $281.00, and a low estimate of $223.00. This current average reflects an increase of 5.3% from the previous average price target of $233.78. 
<img src="https://www.benzinga.com/files/images/story/2024/1710763231_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The analysis of recent analyst actions sheds light on the perception of Essex Property Trust by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Buck Horne</td>
<td>Raymond James</td>
<td>Announces</td>
<td>Outperform</td>
<td>$265.00</td>
<td>-</td>
</tr>
<tr>
<td>Wesley Golladay</td>
<td>Baird</td>
<td>Raises</td>
<td>Neutral</td>
<td>$236.00</td>
<td>$229.00</td>
</tr>
<tr>
<td>Vikram Malhorta</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Buy</td>
<td>$250.00</td>
<td>$255.00</td>
</tr>
<tr>
<td>Adam Kramer</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$230.00</td>
<td>$227.00</td>
</tr>
<tr>
<td>Chandni Luthra</td>
<td>Goldman Sachs</td>
<td>Announces</td>
<td>Sell</td>
<td>$227.00</td>
<td>-</td>
</tr>
<tr>
<td>Anthony Powell</td>
<td>Barclays</td>
<td>Raises</td>
<td>Underweight</td>
<td>$225.00</td>
<td>$224.00</td>
</tr>
<tr>
<td>Brad Heffern</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$239.00</td>
<td>$237.00</td>
</tr>
<tr>
<td>Simon Yarmak</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Hold</td>
<td>$223.00</td>
<td>$225.00</td>
</tr>
<tr>
<td>Michael Lewis</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$276.00</td>
<td>$260.00</td>
</tr>
<tr>
<td>Vikram Malhorta</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$256.00</td>
<td>$232.00</td>
</tr>
<tr>
<td>Linda Tsai</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$281.00</td>
<td>$215.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Essex Property Trust. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Essex Property Trust compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Essex Property Trust's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into Essex Property Trust's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/ESS/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Essex Property Trust analyst ratings.</a>
<h2>About Essex Property Trust</h2>
Essex Property Trust owns a portfolio of 252 apartment communities with over 62,000 units and is developing another property with 264 units. The company focuses on owning large, high-quality properties on the West Coast in the urban and suburban submarkets of Southern California, Northern California, and Seattle.
<h3>Essex Property Trust: A Financial Overview</h3>
Market Capitalization Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.
Positive Revenue Trend: Examining Essex Property Trust's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 1.58% as of 31 December, 2023, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Real Estate sector.
Net Margin: Essex Property Trust's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 15.5% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Essex Property Trust's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 1.19%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Essex Property Trust's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 0.53%, the company showcases efficient use of assets and strong financial health.
Debt Management: With a below-average debt-to-equity ratio of 1.16, Essex Property Trust adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>The Significance of Analyst Ratings Explained</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Closer Look at 11 Analyst Recommendations For Essex Property Trust

Raymond James analyst Buck Horne upgrades Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) from Market Perform to Outperform and announces $265 price target.

Raymond James Upgrades Essex Property Trust to Outperform, Announces $265 Price Target

Baird analyst Wesley Golladay maintains Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) with a Neutral and raises the price target from $229 to $236.

Baird Maintains Neutral on Essex Property Trust, Raises Price Target to $236

Investors who purchase real estate investment trusts (REITs) often do so for the income that most REITs produce in the form of monthly or quarterly dividends. When REITs announce dividend increases, investors either celebrate a raise in annual income or a chance to reinvest in an increased number of shares of the stock.
In addition to these increases, dividend raises signify a REIT's belief in its ability to continue generating strong revenue and earnings that allow it to continue providing shareholders with steady income. Often the dividend increase announcements are made simultaneously with the earnings report, or shortly before the report is released. Dividend increase announcements made right before earnings announcements often portend a strong report. Dividend increases frequently lead to share price appreciation as well. This gives REIT investors two sources of gains.
Over the past few weeks, several REITs have hiked the monthly or quarterly dividends paid. Take a look at four of them that have announced dividend increases, along with other positive news.&nbsp;
Whitestone REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSR#NYSE">WSR</a>) is a Houston, Texas-based retail REIT that owns, operates and develops open-air retail centers in fast-growing Sun Belt markets. Whitestone owns 50 properties in Texas and Arizona. Whitestone's tenants are mostly service-oriented businesses, such as restaurants, health and fitness centers, financial services and grocery stores. At the end of the third quarter of 2023, Whitestone had a 92.7% occupancy rate.
On Feb. 21, Whitestone REIT announced it had acquired the 107,000-square-foot grocery-anchored Garden Oaks Shopping Center, in Houston. The center is 96% occupied.
On March 5, Whitestone announced a 3% increase in its monthly dividend from $0.04 per share to $0.04125 per share. The new annual dividend of $0.495 per share yields 4.02%. The dividend will be paid on April 11 to shareholders as of April 2.&nbsp;
Whitestone will announce its fourth-quarter 2023 operating results after the market closes on March 6.
EPR Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPR#NYSE">EPR</a>) is a Kansas City, Missouri-based diversified experiential REIT that owns and operates 359 locations, including movie theater chains, amusement parks, ski resorts, fitness centers and other recreational venues with 200 tenants across 44 states. It also owns 71 early childhood education centers and nine private schools.
On Feb. 28, EPR Properties reported its fourth-quarter operating results. Funds from operations (FFO) of $1.18 per share beat the consensus estimate of $1.16 per share and revenue of $171.98 million also beat the consensus estimate of $150.41 million.
Simultaneously, EPR Properties announced an increase in its monthly dividend from $0.275 to $0.285 per share, payable on March 15 to shareholders of record on Feb. 29. The annual dividend of $3.30 per share yields 7.85%.
Essex Property Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) is a San Mateo, California-based residential REIT that acquires, develops and manages multifamily apartment communities on the West Coast of the U.S. As of March 1, its portfolio includes 252 apartment communities, with approximately 62,000 apartments in eight California and Washington state markets.
Essex was founded in 1971 and had its initial public offering IPO in 1994 at $19.50 per share. It's been a member of the S&amp;P 500 since 2014 and is an S&amp;P Dividend Aristocrat with 30 years of increasing cash dividends.
On Feb. 6, Essex Property Trust released its fourth-quarter operating results. FFO of $3.83 per share beat the estimate of $3.81 as well as fourth-quarter 2022 FFO of $3.77 per share. Revenue of $418.95 million was just below the estimate of&nbsp; $419.69 million but surpassed the fourth-quarter 2022 revenue of $412.36 million.
On Feb. 22, Essex Property Trust announced its board approved a 6.1% increase in its annual cash dividend, the 30th consecutive annual dividend increase. The first quarter dividend of $2.45 per share is payable on April 12 to shareholders of record as of March 29. The annualized dividend of $9.80 per share presently yields 4%.
On Feb. 28, Mizuho analyst Vikram Malhorta upgraded Essex Property Trust from Neutral to Buy, while lowering the price target from $255 to $250. Two days earlier, Morgan Stanley analyst Adam Kramer maintained Essex Property Trust with an Equal-Weight rating and raised the price target from $227 to $230.
Essex has bounced from $225.40 on Feb. 26 to a recent price of $245.08.
Centerspace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSR#NYSE">CSR</a>) is a Minot, North Dakota-based residential REIT with a focus on the ownership, management, acquisition and redevelopment of apartment buildings. Its portfolio covers 72 apartment complexes with 13,088 apartments across the Midwestern and Mountain states of Colorado, Minnesota, Montana, Nebraska, North Dakota and South Dakota. As of Sept. 2023, Centerspace had an occupancy rate of 94.4%.
On Feb. 20, Centerspace, also known as Investors Real Estate Trust REIT, announced its fourth-quarter operating results. FFO of $1.22 beat the consensus estimate of $1.11 and revenue of $64.07 million also beat the consensus estimate of $63.99 million.
At the same time, Centerspace announced its board approved a quarterly dividend of $0.75 per share, payable on April 8 to common shareholders at the close of business on March 28. The dividend is an increase from $0.73 per share. The annualized dividend of $3 yields 5.25%.
Centerspace has gained 9.1% since touching a low of $2.26 on Feb. 13.
Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it's too late. Benzinga's in-house real estate research team has been working hard to identify the greatest opportunities in today's market, which you can gain access to for free by signing up for the <a href="https://www.benzinga.com/money/reit-newsletter">Weekly REIT Report.</a>
<h2 class="wp-block-heading">Read Next:</h2>
<ul>
<li>Whole Foods' landlord has delivered a 15% net IRR for its investors since 2015. <a href="https://www.benzinga.com/money/fnrp">Check out the latest investment opportunities added to its platform.</a></li>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that, <a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate">allowing individuals to invest in commercial real estate with as little as $5,000. </a></li>
</ul>

Four REITs That Just Raised Dividends

Offerings

Essex Property Trust Prices Public Offering Of $350M Of 5.500% Senior Notes Due 2034

Elon Musk&#8217;s groundbreaking ventures in technology and space exploration have not only transformed the industries they directly touch but also have far-reaching implications for related sectors, such as real estate. Investors looking to capitalize on Musk&#8217;s influence might consider the potential impacts on Real Estate Investment Trusts (REITs) that are strategically positioned to benefit from the tech industry&#8217;s growth. Here are three REITs that stand to gain from the ripple effects of Musk&#8217;s tech empire:
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Investing in real estate just got a whole lot simpler. This<a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100"> Dara Khosrowshahi-backed startup</a> will allow you to become a landlord in just 10 minutes, and you only need $100.</li>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that,<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> allowing individuals to invest in commercial real estate with as little as $5,000.&nbsp;</a></li>
</ul>
<h2 class="wp-block-heading">Essex Property Trust</h2>
Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>), offering a dividend of 4%, is deeply entrenched in the West Coast&#8217;s property market, an area synonymous with technological innovation and growth. The REIT&#8217;s portfolio is heavily concentrated in multifamily residential properties, which are strategically located in and around key economic regions such as Silicon Valley. This location is critical because it&#8217;s the operational base for major tech companies like Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and SpaceX. The proximity to such tech giants means Essex is well-positioned to benefit from the tech industry&#8217;s expansion, as their continued growth can drive demand for housing in these areas, potentially pushing rental income and property valuations higher. The company's strategic acquisitions and development projects are often aimed at enhancing their presence in high-demand locations, ensuring they capture the growth driven by the tech sector&#8217;s expansion.
<h2 class="wp-block-heading">AvalonBay Communities</h2>
Another top-tier REIT, AvalonBay Communities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVB#NYSE">AVB</a>), which offers a dividend of 4%, specializes in high-quality apartment communities in leading metropolitan areas, many of which are tech hubs like San Francisco, Seattle, and the greater Washington, D.C. area. Their properties are designed to appeal to the modern tech professional, offering amenities and environments that align with the lifestyles of employees from nearby tech companies. As these tech hubs continue to expand, driven by the innovation and growth of companies influenced by Elon Musk, the demand for AvalonBay&#8217;s properties is likely to increase. The company&#8217;s focus on building community-oriented, high-quality living spaces allows it to maintain high occupancy rates and command premium rents, contributing to its robust revenue streams and financial stability.
<h2 class="wp-block-heading">Equity Residential</h2>
Equity Residential (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQR#NYSE">EQR</a>), which provides a dividend of 5%, owns a diversified portfolio of properties, with a significant emphasis on urban centers that are experiencing rapid growth due to the tech industry&#8217;s expansion. Cities like Boston, New York, and San Francisco are key markets for the company, where it capitalizes on its urban properties to house the burgeoning workforce of the tech sector. The firm&#8217;s strategic focus on these dynamic markets allows it to benefit from the tech-driven economic vitality, which boosts demand for housing and enables the company to optimize rental rates. Equity Residential's properties are typically located in neighborhoods that are attractive to tech professionals, offering convenience, luxury, and access to urban amenities, which are all appealing features for tenants working at nearby tech firms or startups inspired by visionaries like Musk.
Investing in these REITs offers a unique opportunity to indirectly engage with the booming tech sector, influenced heavily by Elon Musk&#8217;s enterprises. As these companies innovate and grow, the surrounding real estate markets are expected to thrive, making these REITs potentially lucrative options for investors looking to benefit from the tech industry&#8217;s expansion while enjoying the income and stability traditionally associated with real estate investments.
<h2 class="wp-block-heading">Read Next:</h2>
<ul>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that,<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> allowing individuals to invest in commercial real estate with as little as $5,000.&nbsp;</a></li>
<li>Collecting passive income from real estate just got a whole lot simpler. A new<a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100"> real estate fund backed by Dara Khosrowshahi</a> gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.</li>
</ul>
Image credit: Shutterstock

TSLA

The Elon Musk Effect: How His Tech Dominance Is Reshaping These REITs

It's always interesting to see the nuances of consistency when analysts raise price targets on stocks. Often, they will increase price targets on groups of stocks in a certain sector. Sometimes an analyst will announce price hikes that are similar to one or two other analysts from the same firm on the same day. Is that a coincidence? It doesn't seem to be.
For example, on Feb. 26, three Morgan Stanley analysts maintained Equal-Weight ratings on six different REITs, while raising the price targets on all of them. Take a look at the similar conclusions the three analysts reached on all six.
Mid-America Apartment Communities Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAA#NYSE">MAA</a>) is a self-administered residential REIT that specializes in purchasing and leasing apartment complexes. As of Dec. 31, it owns 102,662 units in 276 communities across 16 states and Washington, D.C. Most of Mid-America Apartment Communities' properties are in the Southeast, Southwest and Mid-Atlantic states.
Mid-America Apartment Communities is a member of the S&amp;P 500 and has been a public company for almost 30 years. The Atlanta and Dallas areas comprise over 22% of its same-store net operating income. Mid-America has paid 119 consecutive quarterly cash dividends since its initial public offering (IPO) in 1994. At the end of the third quarter, same-store occupancy was 95.6%.
On Feb. 26, Morgan Stanley analyst Adam Kramer maintained Mid-America Apartment Communities with an Equal-Weight rating and raised the price target from $128 to $129.50.
Equity Residential (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQR#NYSE">EQR</a>) is a Chicago-based REIT that owns or invests in 305 apartment buildings with 80,683 units, located in larger and more affluent cities such as Boston, New York, Washington D.C, Seattle, San Francisco and Denver. Its third-quarter occupancy rate was 96%. Equity Residential has been a member of the S&amp;P 500 since 2001.
Kramer also maintained Equity Residential with an Equal-Weight rating and raised the price target from $58 to $64.
Camden Property Trust&nbsp; (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPT#NYSE">CPT</a>) is a Houston-based residential REIT that owns and manages over 240,000 square feet of apartment complexes in major cities across the U.S. Some of its apartment complexes also contain ground-floor retail space, offices or mixed-use space. It's a member of the S&amp;P 500 and had its IPO in 1993. At the end of the third quarter, its occupancy level was 95.6%, down from 96.6% one year earlier.
Kramer remained consistent, maintaining Camden Property Trust with an Equal-Weight rating and raising the price target from $95 to $98.
Essex Property Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) is a San Mateo, California-based residential REIT that acquires, develops and manages multifamily apartment communities on the West Coast of the U.S. Its portfolio includes 252 apartment communities, with approximately 62,000 apartment units in eight California and Washington state markets.
Essex was founded in 1971 and had its IPO in 1994 at $19.50 per share. It's been a member of the S&amp;P 500 since 2014 and is an S&amp;P Dividend Aristocrat with 30 years of increasing cash dividends.
Kramer maintained Essex Property Trust with an Equal-Weight rating and raised the price target from $227 to $230.
Simon Property Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>) is an Indianapolis-based retail REIT that owns and leases over 250 properties, consisting of shopping malls, restaurants, outlet centers and entertainment venues. It has locations in the top 25 population markets across the U.S. Simon Property Group was founded in 1960 and launched its IPO in 1993. The occupancy rate for its U.S. malls and premium outlets at the end of the fourth quarter was 95.8%, up from 94.9% in the fourth quarter of 2022
On Feb. 5, Simon Property Group reported its fourth-quarter operating results. FFO of $3.69 per share easily beat the consensus estimate of $3.34. Revenue of $1.53 billion was ahead of estimates of $1.36 billion by 12.38% and was a 9.07% increase over fourth-quarter 2022 revenue of $1.4 billion.
Simon followed this up by raising its quarterly dividend from $1.90 to $1.95, the third dividend raise over the past year, and by announcing a new $2 billion common stock repurchase program over the next 24 months, another sign of optimism. This repurchase program replaces the previous $1.7 billion program that was to expire on May 16.
On Feb. 26, Morgan Stanley analyst Ron Kamdem maintained Simon Property Group with an Equal-Weight rating and raised the price target from $143 to $145.
Lamar Advertising Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) is a Baton Rouge, Louisiana-based specialty REIT, founded in 1902 that owns and leases 363,000 displays throughout the U.S. and Canada, including digital and print billboards, interstate logos and airport advertising formats. Lamar Advertising and Outfront Media Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUT#NYSE">OUT</a>) are the only two REITs exclusively devoted to billboard and display advertising.
On Feb. 26, Morgan Stanley analyst Benjamin Swinburne maintained Lamar Advertising with an Equal-Weight rating and raised the price target from $105 to $110.
All in all, it was quite a busy morning for Morgan Stanley.
Explore Opportunities Beyond REITs
While publicly traded REITs offer a convenient way to invest in real estate, we believe that some of the most compelling opportunities lie in the private market. Benzinga's <a href="https://www.benzinga.com/alternative-investments/real-estate">real estate offering screener</a> features a curated selection of private market real estate offerings from trusted platforms with a track record of strong returns.
Whether you&#8217;re an accredited or non-accredited investor, you can filter opportunities based on your investment criteria, including minimum investment, property type and target return. These offerings provide a unique chance to diversify your portfolio and tap into potential high-yield investments that are not available on public exchanges.
<a href="https://www.benzinga.com/alternative-investments/real-estate">Browse offerings</a>
Latest Private Market Offerings
<ul>
<li><a href="https://www.benzinga.com/alternative-investments/listing/horizon-village">Horizon Village</a>: Grocery-anchored shopping center located in Phoenix, AZ, with a target return of 12%.</li>
<li><a href="https://www.benzinga.com/alternative-investments/listing/gold-leaf-farming-lp">Golden Leaf Farming LP</a>: Top-tier almond and pistachio farms with a target cash yield of 13.8%</li>
</ul>

LAMR

Morgan Stanley Raises Price Targets On A Half Dozen REITs

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Oppenheimer boosted the price target for Tarsus Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tars#NASDAQ">TARS</a>) from $55 to $59. Oppenheimer analyst Francois Brisebois reiterated an Outperform rating. Tarsus Pharmaceuticals shares gained 18.3% to close at $39.22 on Tuesday. <a href="https://www.benzinga.com/quote/TARS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wedbush increased the price target for Apellis Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/apls#NASDAQ">APLS</a>) from $60 to $67. Wedbush analyst Laura Chico maintained a Neutral rating. Apellis Pharmaceuticals shares fell 3.3% to close at $69.35 on Tuesday. <a href="https://www.benzinga.com/quote/APLS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Needham increased Axon Enterprise, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/axon#NASDAQ">AXON</a>) price target from $240 to $315. Needham analyst Joshua Reilly maintained a Buy rating. Axon Enterprise shares rose 0.1% to close at $271.82 on Tuesday. <a href="https://www.benzinga.com/quote/AXON/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Mizuho slashed the price target for Essex Property Trust, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ess#NYSE">ESS</a>) from $255 to $250. Mizuho analyst Vikram Malhorta upgraded the stock from Neutral to Buy. Essex Property Trust shares gained 0.9% to close at $227.73 on Tuesday. <a href="https://www.benzinga.com/quote/ESS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Raymond James lowered Integral Ad Science Holding Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ias#NASDAQ">IAS</a>) price target from $20 to $16. Raymond James analyst Andrew Marok downgraded the stock from Strong Buy to Outperform. Integral Ad Science shares gained 1.4% to close at $17.10 on Tuesday. <a href="https://www.benzinga.com/quote/IAS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>DA Davidson boosted the price target for Sterling Infrastructure, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/strl#NASDAQ">STRL</a>) from $86 to $115. DA Davidson analyst Brent Thielman downgraded the stock from Buy to Neutral. Sterling Infrastructure shares climbed 18.1% to close at $106.22 on Tuesday. <a href="https://www.benzinga.com/quote/STRL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Needham boosted LendingTree, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tree#NASDAQ">TREE</a>) price target from $17 to $40. Needham analyst Mayank Tandon maintained a Buy rating. LendingTree shares fell 4.8% to close at $32.62 on Tuesday. <a href="https://www.benzinga.com/quote/TREE/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Keybanc boosted ICU Medical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/icui#NASDAQ">ICUI</a>) price target from $134 to $136. Keybanc analyst Brett Fishbin maintained an Overweight rating. ICU Medical shares climbed 1.2% to close at $106.81 on Tuesday. <a href="https://www.benzinga.com/quote/ICUI/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barclays raised Ecolab Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ecl#NYSE">ECL</a>) price target from $225 to $260. Barclays analyst Manav Patnaik upgraded the stock from Equal-Weight to Overweight. Ecolab shares gained 0.8% to close at $222.09 on Tuesday. <a href="https://www.benzinga.com/quote/ECL/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Telsey Advisory Group increased Abercrombie &amp; Fitch Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/anf#NYSE">ANF</a>) price target from $105 to $140. Telsey Advisory Group maintained an Outperform rating. Abercrombie &amp; Fitch shares fell 0.3% to close at $125.78 on Tuesday. <a href="https://www.benzinga.com/quote/ANF/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/02/37360001/these-3-energy-stocks-with-over-5-dividend-yields-are-recommended-by-wall-streets-most-a"> These 3 Energy Stocks With Over 5% Dividend Yields Are Recommended By Wall Street&#39;s Most Accurate Analysts </a>

Small Cap

APLS

AXON

ICUI

STRL

TARS

TREE

ICU Medical To Rally Around 28%? Here Are 10 Top Analyst Forecasts For Wednesday

Mizuho analyst Vikram Malhorta upgrades Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) from Neutral to Buy and lowers the price target from $255 to $250.

Mizuho Upgrades Essex Property Trust to Buy, Lowers Price Target to $250

9 analysts have expressed a variety of opinions on Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $246.33, a high estimate of $281.00, and a low estimate of $223.00. Witnessing a positive shift, the current average has risen by 4.49% from the previous average price target of $235.75.
<img src="https://www.benzinga.com/files/images/story/2024/1708963210_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
A comprehensive examination of how financial experts perceive Essex Property Trust is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Adam Kramer</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$230.00</td>
<td>$227.00</td>
</tr>
<tr>
<td>Chandni Luthra</td>
<td>Goldman Sachs</td>
<td>Announces</td>
<td>Sell</td>
<td>$227.00</td>
<td>-</td>
</tr>
<tr>
<td>Anthony Powell</td>
<td>Barclays</td>
<td>Raises</td>
<td>Underweight</td>
<td>$225.00</td>
<td>$224.00</td>
</tr>
<tr>
<td>Brad Heffern</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$239.00</td>
<td>$237.00</td>
</tr>
<tr>
<td>Simon Yarmak</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Hold</td>
<td>$223.00</td>
<td>$225.00</td>
</tr>
<tr>
<td>Michael Lewis</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$276.00</td>
<td>$260.00</td>
</tr>
<tr>
<td>Vikram Malhorta</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$256.00</td>
<td>$232.00</td>
</tr>
<tr>
<td>Linda Tsai</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$281.00</td>
<td>$215.00</td>
</tr>
<tr>
<td>Michael Lewis</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$260.00</td>
<td>$266.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Essex Property Trust. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Essex Property Trust compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Essex Property Trust's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Essex Property Trust's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ESS/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Essex Property Trust analyst ratings.</a>
<h2>About Essex Property Trust</h2>
Essex Property Trust owns a portfolio of 252 apartment communities with over 62,000 units and is developing another property with 264 units. The company focuses on owning large, high-quality properties on the West Coast in the urban and suburban submarkets of Southern California, Northern California, and Seattle.
<h3>Essex Property Trust's Economic Impact: An Analysis</h3>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Growth: Essex Property Trust's revenue growth over a period of 3 months has been noteworthy. As of 31 December, 2023, the company achieved a revenue growth rate of approximately 0.61%. This indicates a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Real Estate sector.
Net Margin: Essex Property Trust's net margin excels beyond industry benchmarks, reaching 15.5%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Essex Property Trust's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.19% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Essex Property Trust's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.53% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: With a below-average debt-to-equity ratio of 1.16, Essex Property Trust adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Deep Dive Into Essex Property Trust Stock: Analyst Perspectives (9 Ratings)

Morgan Stanley analyst Adam Kramer maintains Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) with a Equal-Weight and raises the price target from $227 to $230.

Morgan Stanley Maintains Equal-Weight on Essex Property Trust, Raises Price Target to $230

RBC Capital analyst Brad Heffern maintained a Buy rating on Essex Property (ESS – Research Report) yesterday and set a price target of $262.00. The...

RBC Capital Keeps Their Buy Rating on Essex Property (ESS)

Real estate gets neutral health score by Seeking Alpha's Quant Rating ahead of Q1 earnings

Real estate stocks continue to dip as earnings season kicks off

In a report released today, James Feldman from Wells Fargo maintained a Hold rating on Essex Property (ESS – Research Report), with a price target ...

Essex Property (ESS) Gets a Hold from Wells Fargo

Short interest on S&P 500 real estate stocks advance in March

REIT Earnings Preview: Delay And Pray

REIT Rally 2.0: Opportunity Awaits For Investment In High-Quality Gems

Real estate stocks continue on downward trajectory as market's April pullback intensifies

Today, I'll explain why apartments are so affordable right now. I'll also show you one way to profit from this trend while collecting a reliable income.

You Don't Need Billions To Buy Discounted Rental Properties

A Hawkish Pivot

AGNC

AGNCL

AGNCM

AGNCN

AGNCO

AGNCP

AIRC

ALEX

APLE

ASPS

BBRE

BLDG

BXMT

CBRE

CSGP

CUBE

DFAR

EARN

EPRT

EQIX

ESRT

FREL

GQRE

HAUS

HAUZ

HOMZ

HOUS

IFGL

INDS

INVH

JPRE

KBWY

LAND

LANDM

LANDO

LANDP

MFAN

MORT

NAIL

NETL

NURE

OPEN

PFFR

PINE

PLDGP

PPTY

RDOG

REET

REGCO

REGCP

RESI

REXR

RIET

RITM

ROOF

RSPR

SAFE

SBAC

SCHH

SPRE

SRET

SRVR

STWD

TRNO

USRT

VICI

VIOO

VNORP

VRAI

WELL

XLRE

Press Releases

Essex Announces Third Quarter 2023 Results

Essex Property Trust Declares Quarterly Distributions

Essex Announces Release and Conference Call Dates for Its Fourth Quarter 2023 Earnings

Essex Reports Characteristics of 2023 Dividends

Essex Announces Fourth Quarter and Full-Year 2023 Results and 2024 Guidance

Essex Announces its 30th Consecutive Annual Dividend Increase

Essex Property Trust to Present at The 2024 Citigroup Global Property CEO Conference

Essex Property Trust Prices $350 Million of Senior Notes

Essex Property Trust Acquires Joint Venture Partner's Interest in Four Communities Comprising 1,480 Apartment Homes

Essex Announces Release and Conference Call Dates for Its First Quarter 2024 Earnings