
ESS Stock Forecast & Price Target
ESS Analyst Ratings
Bulls say
Essex Property Trust is projected to experience a 2.6% year-over-year same-store revenue growth in 2026, coupled with a manageable expense growth of 3.6%, which should result in a positive SSNOI growth of 2.1%. The company's emphasis on high-quality properties in prime West Coast markets positions it well to benefit from potential upside risks, including stronger apartment demand driven by AI-related job growth in Northern California and pent-up demand following recent wildfires in Southern California. Additionally, Essex's projected revenue growth exceeds that of seven out of eight competing apartment companies, indicating a competitive edge within its market.
Bears say
Essex Property Trust is experiencing a negative outlook primarily due to a projected decline in same-store revenue growth and a subsequent reduction in 2026 FFO estimates, with estimates adjusting slightly down to $16.65 per share. The company is facing challenges from soft employment trends in California, which may impact demand for its properties, particularly in urban and suburban markets. Additionally, the stock's narrow discount to net asset value (NAV) and above-average multiples raise concerns about valuation, while a relatively low implied cap rate suggests it is an outlier within the apartment REIT sector, potentially leading to underperformance.
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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