John Kim, an analyst from BMO Capital, maintained the Buy rating on Essex Property. The associated price target remains the same with $310.00.
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John Kim has given his Buy rating due to a combination of factors that highlight Essex Property’s potential for growth and stability. The company reported a strong third quarter in 2025, with a notable beat in Core Funds From Operations (FFOps) and an upward revision in its 2025 guidance, despite it being slightly below consensus expectations. This performance underscores Essex Property’s resilience and strategic positioning in the market.
Additionally, the company showed robust revenue growth in key markets like San Francisco and San Mateo, which contributed to the positive outlook. Despite some challenges, such as the deceleration in new lease rates and underperformance in certain regions like San Diego and Alameda County, the overall fundamentals remain strong. The expected limited supply in 2026 across Essex’s markets further supports the Buy rating, as it suggests a favorable demand-supply dynamic that could benefit the company’s future performance.
In another report released on October 15, RBC Capital also maintained a Buy rating on the stock with a $293.00 price target.