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ESS

Essex Property Trust

$302.21

3.03 (1.01%)

05:07
06/18/19
06/18
05:07
06/18/19
05:07

Essex Property Trust downgraded to Neutral from Outperform at Baird

Baird analyst Drew Babin downgraded Essex Property Trust to Neutral from Outperform while raising his price target for the shares to $302 from $297. The analyst views the current valuation as "fair."

  • 10

    Jul

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    Jul

ESS Essex Property Trust
$302.21

3.03 (1.01%)

02/07/19
JEFF
02/07/19
DOWNGRADE
Target $295
JEFF
Hold
Jefferies downgrades Essex Property Trust to Hold on valuation
Jefferies analyst Omotayo Okusanya downgraded Essex Property Trust to Hold from Buy while raising his price target for the shares to $295 from $290. The fundamental rent growth outlook for the company remains solid as job growth on the West Coast continues to outpace the rest of the nation, Okusanya tells investors in a research note. However, the company's fiscal 2019 same-store net operating income growth guidance of 2.1-3.9% implies just 10 basis points of acceleration year-over-year at the midpoint, a bit below expectations, mainly driven by operating expense headwinds, says the analyst. With the stock up 13% year-to-date, Okusanya does not see enough upside to maintain his Buy rating. He cites valuation for the downgrade to Hold.
02/07/19
02/07/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. PPL Corp. (PPL) downgraded to In Line from Outperform at Evercore ISI. 2. Essex Property Trust (ESS) downgraded to Hold from Buy at Jefferies with analyst Omotayo Okusanya saying the fundamental rent growth outlook for the company remains solid as job growth on the West Coast continues to outpace the rest of the nation. 3. Omega Healthcare (OHI) downgraded to Hold from Buy at Stifel with analyst Chad Vanacore citing valuation. 4. FormFactor (FORM) downgraded to Hold from Buy at Craig-Hallum with analyst Christian Schwab saying at current share price levels, he sees limited upside in the near-term, and notes that management has limited visibility regarding memory demand in the current environment. 5. Dunkin' Brands (DNKN) downgraded to Neutral from Buy at Kalinowski. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/25/19
BTIG
03/25/19
DOWNGRADE
BTIG
Neutral
Essex Property Trust downgraded to Neutral from Buy at BTIG
BTIG analyst James Sullivan downgraded Essex Property Trust to Neutral as part of his broader Apartment Monthly research note. The analyst cites continued declines in Orange County rental rate growth while the rent growth in Los Angeles markets have turned flat even as the national rental growth rate has increasing since mid-2018. Sullivan adds that Esses Property Trust has the "largest exposure to Southern California" in his coverage, noting that weakness in Orange County was not a surprise, but the "overall top line growth on new leases" is also coming in below his model.
04/01/19
EVER
04/01/19
DOWNGRADE
EVER
In Line
Essex Property Trust downgraded to In Line from Outperform at Evercore ISI

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