
ESS Stock Forecast & Price Target
ESS Analyst Ratings
Bulls say
Essex Property Trust is projected to achieve a 3.6% year-over-year increase in same-store revenue for 2026, alongside a controlled expense growth of 3.2%, resulting in a strong 3.8% growth in same-store net operating income (SSNOI). The favorable market dynamics, particularly in West Coast locations, are further supported by potential upside risks from heightened apartment demand driven by an AI-related employment boost in Northern California and a recovery from pent-up demand in Southern California due to previous wildfires. Additionally, normalized funds from operations (FFO) are estimated to grow by 2.7% in 2025, leading to a notable increase of 3.6% in the following year, highlighting a solid financial trajectory for Essex Property Trust.
Bears say
Essex Property Trust faces a negative outlook primarily due to soft employment trends in California, which could adversely affect demand for its apartment communities. The company's stock is trading at the narrowest discount to net asset value (NAV) among its peers, accompanied by the lowest implied cap rate and elevated funds from operations (FFO) and funds available for distribution (FAD) multiples. Additionally, a slight reduction in the 2026 FFO estimate from $16.67 per share to $16.65 per share indicates potential challenges ahead, particularly if labor trends continue to weaken and residents migrate to more affordable markets.
This aggregate rating is based on analysts' research of Essex Property Trust and is not a guaranteed prediction by Public.com or investment advice.
ESS Analyst Forecast & Price Prediction
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