
ESS Stock Forecast & Price Target
ESS Analyst Ratings
Bulls say
Essex Property Trust is projected to achieve a 3.6% year-over-year same-store revenue growth in 2026, alongside a controlled expense growth of 3.2%, resulting in a strong 3.8% growth in same-store net operating income (SSNOI). The company may benefit from potential upside risks, such as increased apartment demand driven by a surge in AI-driven employment in Northern California and the recovery of pent-up demand resulting from recent wildfires in Southern California. Additionally, Essex is expected to see normalized funds from operations (FFO) growth of 2.7% in 2025, progressing to 3.6% in the subsequent year, indicating a positive financial trajectory.
Bears say
Essex Property Trust faces a negative outlook primarily due to weak employment trends in California, which could decrease demand for its apartment units. The company is trading at the narrowest discount to net asset value and has the lowest implied cap rate, combined with above-average funds from operations (FFO) and funds available for distribution (FAD) multiples, indicating potential overvaluation. Additionally, a slight reduction in the 2026 FFO estimate further underscores concerns regarding the sustainability of financial performance amid changing labor market dynamics and the possibility of residents relocating to more affordable areas.
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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