Although the revenue and EPS for Essex Property Trust (ESS) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Essex Property Trust (ESS) came out with quarterly funds from operations (FFO) of $3.91 per share, beating the Zacks Consensus Estimate of $3.88 per share. This compares to FFO of $3.78 per share a year ago.
Get a deeper insight into the potential performance of Essex Property Trust (ESS) for the quarter ended September 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
ESS' Q3 results are likely to show the benefits of a solid property base and technological initiatives.
Essex Property Trust (ESS) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
ESS is likely to benefit from West Coast market fundamentals, technological enhancements and a healthy balance sheet.
Essex Property Trust has shown impressive stock price appreciation, gaining approximately 40% in one year and outperforming all its residential peers in the S&P 500. The REIT is set to benefit from favorable supply demand dynamics in West Coast markets due to high own-to-rent cost differentials and low new housing supply. ESS boasts a strong dividend growth history, and the share price is currently fairly valued, so despite the stock price jump, the stock still remains attractive.
These REITs offer attractive yielding payouts that should rise in the future.
Does Essex Property Trust (ESS) have what it takes to be a top stock pick for momentum investors? Let's find out.
Real estate is a hard asset that has value and can generate a stream of rental income. Real estate investment trusts allow small investors to have exposure to institutional-level real estate assets.
A sturdy property base in the West Coast market with favorable demand drivers is likely to aid ESS. Technology initiatives and a healthy balance sheet bode well.
Essex Property (ESS) is likely to benefit from its strong property base on the West Coast, favorable demographics and a solid balance sheet.