Goldman Sachs raised the firm’s price target on Essex Property Trust (ESS) to $309 from $298 and keeps a Neutral rating on the shares. While the company’s core FFO slightly missed estimates driven by a non-cash accounts receivable charge, the firm is updating its model to reflect the change in its FFO estimates, and the refreshed relationship between REIT growth rates FFO multiples, the analyst tells investors in a research note.
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Read More on ESS:
- Essex Property Trust reports Q4 core FFO $3.92, consensus $3.90
- Essex Property Trust sees FY25 core FFO $15.56-$16.06, consensus $15.99
- Essex Property Trust sees Q1 core FFO $3.86-$3.98
- ESS Earnings this Week: How Will it Perform?
- Essex Property Trust price target lowered to $280 from $304 at Morgan Stanley