에 대한 최신 뉴스 Essex Property Trust (NYSE:ESS) 주식

Essex Property Trust

Essex Property Trust owns a portfolio of 252 apartment communities with over 62,000 units and is developing another property with 264 units. The company focuses on owning large, high-quality properties on the West Coast in the urban and suburban submarkets of Southern California, Northern California, and Seattle.

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뉴욕 증권 거래소(NYSE)의 여러 주식들은 기술적 문제로 인해 월요일 동부 표준시 오전 9시 40분 이후 갑자기 거래가 중단되었다. 이번 예상치 못한 거래 중단은 일반적으로 단일 주식의 과도한 변동성을 억제하는 데 사용되는 &#34;상향 한도(Limit Up)/하향 한도(Limit Down)&#34; 코드로 분류된 기술적 문제로 인해 촉발되었다.

버크셔 해서웨이, 치폴레 등 뉴욕 증권 거래소 기술적 문제로 일시 거래 중단 발생

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Shares of Equity Residential (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eqr#NYSE">EQR</a>), currently carrying a Zacks Rank #3 (Hold), have rallied 10.3% in the year-to-date period, outperforming the industry&#39;s growth of 3.2%.
Equity Residential boasts a portfolio of high-quality apartment units in some of the key markets of the United States that have an affluent tenant base.
For the full-year 2024, Equity Residential expects normalized FFO per share in the band of $3.80-$3.90. The company&#39;s full-year guidance incorporated projections for same-store revenue growth of 2-3%, an expense increase of 3.5-4.5% and an NOI expansion of 1-2.6%. Also, physical occupancy is expected at 95.9%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/01/70441.jpg?v=963189614" />
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In May, EQR announced that it expects its 2024 same-store revenues, net operating income (NOI) and normalized FFO per share results toward the higher end of its existing guidance ranges. This latest projection came with the residential REIT experiencing sustained high demand across its market, which is pushing physical occupancy above expectations. Also, strong pricing power in its East Coast markets and continued recovery in its West Coast markets are tailwinds.
Analysts seem bullish on this Zacks Rank #3 (Hold) company. The Zacks Consensus Estimate for its 2024 and 2025 FFO per share has moved marginally upward over the past two months to $3.88 and $4.00, respectively.
Let us now decipher the factors behind the surge in the stock price and also check whether this trend will last.
Equity Residential has a dominating presence in Boston, New York, Washington, D.C., Seattle, San Francisco and Southern California. The residential REIT is also growing its presence in Denver, CO; Atlanta, GA; Dallas/Ft. Worth and Austin, TX. It is particularly targeting places where affluent renters prefer to live, work and play. The company&#39;s affluent residents work in the highest earning sectors of the economy and are not rent-burdened, creating the ability to raise rents more readily in good economic times and reducing risk during downturns.
In its strategy, EQR is taking into consideration the hybrid working environment and the recent migration trends of affluent renters and opting for the acquisition and development of properties in suburban locations of its established markets and adding select new markets like its entry into Atlanta, GA, and Austin, TX. Moreover, given the high cost of homeownership, especially relative to rents, the transition from renter to homeowner is difficult in its markets, making renting apartment units a viable option.
Equity Residential is also banking on technology and organizational capabilities to drive rent growth and improve the efficiency of its operating platform. Such efforts are likely to provide Equity Residential with a competitive edge over others and drive growth in net operating income (NOI) in the upcoming period.
Equity Residential noted that in May (preliminary data as of May 24, 2024), physical occupancy reached 96.5%, up from 96.3% in the first quarter of 2024 and 95.8% in the fourth quarter of 2023. The blended rate for May is 2.9%, improving from 1.6% in the first quarter and 0.7% in the fourth quarter. Particularly, the new lease change was 0.4% in May against a decline of 2.2% in the first quarter of 2024 and a fall of 4.6% in the fourth quarter of 2023.
The company is making efforts toward repositioning its portfolio, selling older properties, properties in jurisdictions with challenging regulatory environments or in submarkets where the company is over-concentrated and acquiring newer properties in submarkets with high numbers of affluent renters, favorable long-term demand drivers and manageable forward supply. Such efforts are likely to drive EQR&#39;s growth over the long term.
Equity Residential has an encouraging development pipeline. Over the next few years, the developments underway are expected to deliver meaningful incremental net operating income (NOI) upon completion and stabilization and are expected to fuel FFO and NAV growth.
Equity Residential has a healthy balance sheet with ample liquidity and financial flexibility. This will help it pursue growth opportunities and enjoy greater liquidity for day-to-day operations. As of Mar 31, 2024, the company had nearly $2.3 billion of liquidity through cash and cash equivalents and the available borrowing capacity on its revolving credit facility. It has a well-laddered debt maturity schedule with no significant debt maturities until 2025.
EQR ended the first quarter of 2024 with a net debt to normalized EBITDAre of 3.97X. Unencumbered NOI as a percentage of the total NOI was 89.6% in the quarter. Further, an A-rated balance sheet renders the company access to the debt market at favorable rates.
With manageable debt maturities, solid credit metrics, significant unencumbered assets and sufficient access to capital markets at favorable rates, Equity Residential seems well-positioned to meet its future obligations as well as ride the growth curve.
Solid dividend payouts remain the biggest attraction for REIT investors, and Equity Residential remains committed to this purpose. Over the last decade, the residential REIT has delivered strong dividend growth while maintaining a conservative payout ratio. Per the June Investor Update, for the 2011-2024 period, the company&#39;s dividend is expected to witness a compound annual growth rate of 6%.
Therefore, given the company&#39;s solid operating platform, our FFO per share growth projections and balance sheet strength compared with industry counterparts, this dividend growth rate is expected to be sustainable over the long run.
However, the elevated supply of apartments in some of Equity Residential&#39;s markets and an expected moderation in rent growth act as deterrents. High interest rates add to the company&#39;s concerns.
<h3>Stocks to Consider</h3>
Some better-ranked stocks from the REIT sector are Invitation Homes (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/invh#NYSE">INVH</a>) and Essex Property Trust, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ess#NYSE">ESS</a>). Invitation Homes and Essex Property Trust each carry a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Invitation Home&#39;s current-year FFO per share has been raised marginally over the past two months to $1.88.
The Zacks Consensus Estimate for Essex Property Trust&#39;s 2024 FFO per share has moved marginally northward over the past month to $15.40.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) &mdash; a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2297288/equity-residential-eqr-stock-up-10-3-ytd-will-the-trend-last?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2297288">To read this article on Zacks.com click here.</a>

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Equity Residential Stock Up 10.3% YTD: Will the Trend Last?

Piper Sandler analyst Alexander Goldfarb reiterates Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) with a Overweight and maintains $315 price target.

Price Target

Reiteration

Piper Sandler Reiterates Overweight on Essex Property Trust, Maintains $315 Price Target

Angela Kleiman, President and CEO at Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>), disclosed an insider sell on June 25, according to a recent SEC filing.
What Happened: Kleiman's recent Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000920522/000092052224000073//Archives/edgar/data/920522/000092052224000073/0000920522-24-000073-index.htm">U.S. Securities and Exchange Commission</a> on Tuesday unveiled the sale of 3,780 shares of Essex Property Trust. The total transaction value is $1,051,860.
At Wednesday morning, Essex Property Trust shares are down by 0.0%, trading at $275.62.
<h3>Delving into Essex Property Trust's Background</h3>
Essex Property Trust owns a portfolio of 252 apartment communities with over 62,000 units and is developing another property with 264 units. The company focuses on owning large, high-quality properties on the West Coast in the urban and suburban submarkets of Southern California, Northern California, and Seattle.
<h3>Breaking Down Essex Property Trust's Financial Performance</h3>
Revenue Growth: Essex Property Trust displayed positive results in 3 months. As of 31 March, 2024, the company achieved a solid revenue growth rate of approximately 3.52%. This indicates a notable increase in the company's top-line earnings. When compared to others in the Real Estate sector, the company excelled with a growth rate higher than the average among peers.
Key Profitability Indicators:
<ul>
<li>
Gross Margin: Achieving a high gross margin of 67.77%, the company performs well in terms of cost management and profitability within its sector.
</li>
<li>
Earnings per Share (EPS): The company excels with an EPS that surpasses the industry average. With a current EPS of 4.25, Essex Property Trust showcases strong earnings per share.
</li>
</ul>
Debt Management: With a below-average debt-to-equity ratio of 1.19, Essex Property Trust adopts a prudent financial strategy, indicating a balanced approach to debt management.
Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: Essex Property Trust's stock is currently priced at a premium level, as reflected in the higher-than-average P/E ratio of 33.65.
</li>
<li>
Price to Sales (P/S) Ratio: With a higher-than-average P/S ratio of 10.51, Essex Property Trust's stock is perceived as being overvalued in the market, particularly in relation to sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): The company's EV/EBITDA ratio 17.92 is above the industry average, suggesting that the market values the company more highly for each unit of EBITDA. This could be attributed to factors such as strong growth prospects or superior operational efficiency.
</li>
</ul>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
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<h3>Why Insider Transactions Are Important</h3>
Insider transactions contribute to decision-making but should be supplemented by a comprehensive investment analysis.
Exploring the legal landscape, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated by Section 12 of the Securities Exchange Act of 1934. This encompasses executives in the c-suite and major hedge funds. These insiders are required to report their transactions through a Form 4 filing, which must be submitted within two business days of the transaction.
Highlighted by a company insider's new purchase, there's a positive anticipation for the stock to rise.
But, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>Unlocking the Meaning of Transaction Codes</h3>
In the domain of transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> frequently turn their focus to those taking place in the open market, as meticulously outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000920522">Check Out The Full List Of Essex Property Trust's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Insider Selling: Angela Kleiman Unloads $1.05M Of Essex Property Trust Stock

Truist Securities analyst Michael Lewis maintains Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) with a Hold and raises the price target from $255 to $282.

Truist Securities Maintains Hold on Essex Property Trust, Raises Price Target to $282

Essex Property Trust's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) short percent of float has fallen 10.83% since its last report. The company recently reported that it has 1.26 million shares sold short, which is 2.8% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.22 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Essex Property Trust Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1718916316_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Essex Property Trust has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Essex Property Trust's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Essex Property Trust's peer group average for short interest as a percentage of float is 3.88%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Essex Property Trust's Recent Short Interest

In the latest quarter, 15 analysts provided ratings for Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>), showcasing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">9</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Essex Property Trust and provided 12-month price targets. The average target is $268.1, accompanied by a high estimate of $315.00 and a low estimate of $240.00. Marking an increase of 5.6%, the current average surpasses the previous average price target of $253.88. 
<img src="https://www.benzinga.com/files/images/story/2024/1718650886_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
A clear picture of Essex Property Trust's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Anthony Paolone</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$265.00</td>
<td>$244.00</td>
</tr>
<tr>
<td>Nicholas Yulico</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Outperform</td>
<td>$285.00</td>
<td>$283.00</td>
</tr>
<tr>
<td>James Feldman</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$269.00</td>
<td>$232.00</td>
</tr>
<tr>
<td>Vikram Malhorta</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Buy</td>
<td>$266.00</td>
<td>$250.00</td>
</tr>
<tr>
<td>Nicholas Yulico</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Outperform</td>
<td>$283.00</td>
<td>$256.00</td>
</tr>
<tr>
<td>Adam Kramer</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$250.00</td>
<td>$230.00</td>
</tr>
<tr>
<td>Michael Goldsmith</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$261.00</td>
<td>$250.00</td>
</tr>
<tr>
<td>Richard Anderson</td>
<td>Wedbush</td>
<td>Raises</td>
<td>Neutral</td>
<td>$264.00</td>
<td>$240.00</td>
</tr>
<tr>
<td>Alexander Goldfarb</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$315.00</td>
<td>$291.00</td>
</tr>
<tr>
<td>Simon Yarmak</td>
<td>Stifel</td>
<td>Raises</td>
<td>Hold</td>
<td>$243.50</td>
<td>$239.50</td>
</tr>
<tr>
<td>Richard Anderson</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$240.00</td>
<td>-</td>
</tr>
<tr>
<td>Michael Lewis</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$255.00</td>
<td>$259.00</td>
</tr>
<tr>
<td>Joshua Dennerlein</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$275.00</td>
<td>$250.00</td>
</tr>
<tr>
<td>Michael Lewis</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$259.00</td>
<td>$276.00</td>
</tr>
<tr>
<td>Alexander Goldfarb</td>
<td>Piper Sandler</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$291.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Essex Property Trust. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Essex Property Trust compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Essex Property Trust's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Essex Property Trust's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ESS/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Essex Property Trust analyst ratings.</a>
<h2>All You Need to Know About Essex Property Trust</h2>
Essex Property Trust owns a portfolio of 252 apartment communities with over 62,000 units and is developing another property with 264 units. The company focuses on owning large, high-quality properties on the West Coast in the urban and suburban submarkets of Southern California, Northern California, and Seattle.
<h3>Financial Insights: Essex Property Trust</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: Essex Property Trust displayed positive results in 3 months. As of 31 March, 2024, the company achieved a solid revenue growth rate of approximately 3.52%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Real Estate sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 63.88%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Essex Property Trust's ROE stands out, surpassing industry averages. With an impressive ROE of 4.97%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 2.16%, the company showcases effective utilization of assets.
Debt Management: Essex Property Trust's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.19.
<h2>The Significance of Analyst Ratings Explained</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Critical Insights From Essex Property Trust Analyst Ratings: What You Need To Know

JP Morgan analyst Anthony Paolone maintains Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) with a Neutral and raises the price target from $244 to $265.

JP Morgan Maintains Neutral on Essex Property Trust, Raises Price Target to $265

As of June 17, 2024, four stocks in the real estate sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Essex Property Trust Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>)</h3>
<ul>
<li>On June 14, Scotiabank analyst Nicholas Yulico maintained Essex Property Trust with a Sector Outperform and raised the price target from $283 to $285. The company's stock gained around 4% over the past five days and has a <a href="https://www.benzinga.com/quote/ESS">52-week high of $279.09</a>.</li>
<li>RSI Value: 71.28&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>ESS Price Action: Shares of Essex Property Trust rose 1.2% to close at $278.50 on Friday.</li>
</ul>
<h3 class="wp-block-heading">InnSuites Hospitality Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHT#NYSE">IHT</a>)</h3>
<ul>
<li>On Jan. 8, InnSuites Hospitality Trust announced a semi-annual dividend of 1 cent per share after clocking December revenue of $0.52 million. The company's stock gained around 31% over the past month and <a href="https://www.benzinga.com/quote/IHT">has a 52-week high</a> of $3.62.</li>
<li>RSI Value: 78.37</li>
<li>IHT Price Action: Shares of InnSuites Hospitality Trust fell 2.2% to close at $1.75 on Friday.</li>
</ul>
<h3 class="wp-block-heading">Iron Mountain Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>)</h3>
<ul>
<li>On May 2, the company, under the helm of CEO William Meaney, reported first-quarter adjusted earnings per share of 43 cents. Quarterly revenue of $1.477 billion, beating the street view of $1.453 billion. Iron Mountain declared a quarterly cash dividend of 65 cents per share for the second quarter, which is payable on July 5, 2024, for shareholders of record on June 17, 2024. The company's stock gained around 7% over the past month and has a <a href="https://www.benzinga.com/quote/IRM">52-week high</a> of $89.91.</li>
<li>RSI Value: 74.06</li>
<li>IRM Price Action: Shares of Iron Mountain gained 0.3% to close at $88.02 on Friday.</li>
</ul>
National Storage Affiliates Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSA#NYSE">NSA</a>)
<ul>
<li>On May 1, National Storage posted weaker-than-expected quarterly sales. The company's stock jumped around 6% over the past five days and has a 52-week high of $42.54.</li>
<li>RSI Value: 73.81</li>
<li>NSA Price Action: Shares of National Storage Affiliates Trust gained 0.4% to close at $40.85 on Friday.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/06/39331770/wall-streets-most-accurate-analysts-weigh-in-on-3-tech-stocks-with-over-3-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Weigh In On 3 Tech Stocks With Over 3% Dividend Yields</a>

Pre-Market Outlook

Top 4 Real Estate Stocks That May Plunge This Month

Scotiabank analyst Nicholas Yulico maintains Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) with a Sector Outperform and raises the price target from $283 to $285.

Scotiabank Maintains Sector Outperform on Essex Property Trust, Raises Price Target to $285

Editor&#8217;s note: This story has been updated with additional details.
Multiple stocks on the New York Stock Exchange experienced sudden trading halts after 9:40 a.m. ET Monday <a href="https://www.benzinga.com/topic/nyse">due to technical issues.</a>
The unexpected pauses in trading were triggered by a technical issue categorized under the &#8220;Limit Up/Limit Down&#8221; code, which is typically used to curb excessive volatility in a single stock.
The NYSE said it is investigating the reported technical issue. &#8220;Additional information will follow as soon as possible,&#8221; NYSE-owner Intercontinental Exchange Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>) stated. 
Among the largest companies halted on Monday were Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) at 9:50:52 a.m. ET and Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) at 9:44:58 a.m. ET. 
Chipotle shares experienced a sudden and dramatic decline of 66%, plummeting from $3,097 to $1,047. The stock resumed trading at 10:21 a.m.
At 9:49 a.m., ET shares of Berkshire Hathaway faced an even more severe downturn, nearly being wiped out with a staggering 99.7% collapse from $622,375 to $185.10. As of this update, trading has not yet resumed for the company owned by Warren Buffett.
Monday&#8217;s technical malfunctions on the NYSE occur just one week after U.S. stock exchanges transitioned to a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39039375/t-1-settlement-era-on-trading-begins-what-you-need-to-know">one-day settlement period.</a>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="500" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4-1024x500.png" alt="" class="wp-image-368052" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4-1024x500.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4-768x375.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4-1536x750.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="500" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5-1024x500.png" alt="" class="wp-image-368067" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5-1024x500.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5-768x375.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5-1536x750.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Other Stocks Impacted </h3>
Other stocks affected by the sudden technical glitch on the New York Stock Exchange in Monday trading include:
<ul>
<li>Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>)</li>
<li>Barrick Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>)</li>
<li>Franco-Nevada Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNV#NYSE">FNV</a>)</li>
<li>Essex Property Trust, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>)</li>
<li>NuScale Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>)</li>
<li>Destiny Tech100 Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NYSE">DXYZ</a>)</li>
<li>Ault Disruptive Technologies Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADRT#NYSE">ADRT</a>)</li>
<li>Nouveau Monde Graphite Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NMG#NYSE">NMG</a>)</li>
<li>Bowhead Specialty Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOW#NYSE">BOW</a>)</li>
<li>Banco Santander-Chile (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSAC#NYSE">BSAC</a>)</li>
<li>Logistic Properties of the Americas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPA#NYSE">LPA</a>)</li>
<li>Xperi Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPER#NYSE">XPER</a>)</li>
<li>ICL Group Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICL#NYSE">ICL</a>)</li>
<li>Telefonica, S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEF#NYSE">TEF</a>)</li>
<li>Trinity Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRN#NYSE">TRN</a>)</li>
</ul>
The technical fallout also impacted trading on the following NYSE-Arca listed exchange traded funds:
<ul>
<li>Direxion Daily Aerospace &amp; Defense Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFEN#NYSE">DFEN</a>)</li>
<li>MAX S&amp;P 500 4x Leveraged ETN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPRO#NYSE">UPRO</a>)</li>
<li>JPMorgan Core Plus Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JCPB#NYSE">JCPB</a>)</li>
<li>Global X MSCI Argentina ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>)</li>
<li>Nationwide Nasdaq-100 Risk-Managed Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUSI#NYSE">NUSI</a>)</li>
<li>SPDR S&amp;P Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XSD#NYSE">XSD</a>)</li>
</ul>
Read now: <a href="https://www.benzinga.com/news/24/06/39136240/koss-corp-tupperware-blackberry-shares-are-moving-monday-whats-going-on">Koss Corp, Tupperware, BlackBerry Shares Are Moving Monday: What&#8217;s Going On?</a>
Photo via Shutterstock.

Berkshire Hathaway, Chipotle, More NYSE Stocks Hit With Trading Halts Triggered By Technical Issues (UPDATED)

Wells Fargo analyst James Feldman maintains Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) with a Equal-Weight and raises the price target from $232 to $269.

Wells Fargo Maintains Equal-Weight on Essex Property Trust, Raises Price Target to $269

Across the recent three months, 14 analysts have shared their insights on Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $264.54, along with a high estimate of $315.00 and a low estimate of $236.00. This current average reflects an increase of 5.03% from the previous average price target of $251.86. 
<img src="https://www.benzinga.com/files/images/story/2024/1717084876_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
The analysis of recent analyst actions sheds light on the perception of Essex Property Trust by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Vikram Malhorta</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Buy</td>
<td>$266.00</td>
<td>$250.00</td>
</tr>
<tr>
<td>Nicholas Yulico</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Outperform</td>
<td>$283.00</td>
<td>$256.00</td>
</tr>
<tr>
<td>Adam Kramer</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$250.00</td>
<td>$230.00</td>
</tr>
<tr>
<td>Michael Goldsmith</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$261.00</td>
<td>$250.00</td>
</tr>
<tr>
<td>Richard Anderson</td>
<td>Wedbush</td>
<td>Raises</td>
<td>Neutral</td>
<td>$264.00</td>
<td>$240.00</td>
</tr>
<tr>
<td>Alexander Goldfarb</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$315.00</td>
<td>$291.00</td>
</tr>
<tr>
<td>Simon Yarmak</td>
<td>Stifel</td>
<td>Raises</td>
<td>Hold</td>
<td>$243.50</td>
<td>$239.50</td>
</tr>
<tr>
<td>Richard Anderson</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$240.00</td>
<td>-</td>
</tr>
<tr>
<td>Michael Lewis</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$255.00</td>
<td>$259.00</td>
</tr>
<tr>
<td>Joshua Dennerlein</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$275.00</td>
<td>$250.00</td>
</tr>
<tr>
<td>Michael Lewis</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$259.00</td>
<td>$276.00</td>
</tr>
<tr>
<td>Alexander Goldfarb</td>
<td>Piper Sandler</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$291.00</td>
<td>-</td>
</tr>
<tr>
<td>Buck Horne</td>
<td>Raymond James</td>
<td>Announces</td>
<td>Outperform</td>
<td>$265.00</td>
<td>-</td>
</tr>
<tr>
<td>Wesley Golladay</td>
<td>Baird</td>
<td>Raises</td>
<td>Neutral</td>
<td>$236.00</td>
<td>$229.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Essex Property Trust. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Essex Property Trust compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Essex Property Trust's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Essex Property Trust's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ESS/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Essex Property Trust analyst ratings.</a>
<h2>About Essex Property Trust</h2>
Essex Property Trust owns a portfolio of 252 apartment communities with over 62,000 units and is developing another property with 264 units. The company focuses on owning large, high-quality properties on the West Coast in the urban and suburban submarkets of Southern California, Northern California, and Seattle.
<h3>Essex Property Trust: Delving into Financials</h3>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Growth: Essex Property Trust displayed positive results in 3 months. As of 31 March, 2024, the company achieved a solid revenue growth rate of approximately 1.23%. This indicates a notable increase in the company's top-line earnings. When compared to others in the Real Estate sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Essex Property Trust's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 63.88% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Essex Property Trust's ROE excels beyond industry benchmarks, reaching 4.97%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Essex Property Trust's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 2.16%, the company showcases efficient use of assets and strong financial health.
Debt Management: Essex Property Trust's debt-to-equity ratio is below the industry average. With a ratio of 1.19, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>The Significance of Analyst Ratings Explained</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Latest Analyst Ratings For Essex Property Trust

Mizuho analyst Vikram Malhorta maintains Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) with a Buy and raises the price target from $250 to $266.

Mizuho Maintains Buy on Essex Property Trust, Raises Price Target to $266

Scotiabank analyst Nicholas Yulico maintains Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) with a Sector Outperform and raises the price target from $256 to $283.

Scotiabank Maintains Sector Outperform on Essex Property Trust, Raises Price Target to $283

Morgan Stanley analyst Adam Kramer maintains Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) with a Equal-Weight and raises the price target from $230 to $250.

Morgan Stanley Maintains Equal-Weight on Essex Property Trust, Raises Price Target to $250

UBS analyst Michael Goldsmith maintains Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) with a Neutral and raises the price target from $250 to $261.

UBS Maintains Neutral on Essex Property Trust, Raises Price Target to $261

Essex Property Trust's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) short percent of float has risen 3.05% since its last report. The company recently reported that it has 1.52 million shares sold short, which is 3.38% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.08 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Essex Property Trust Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715272223_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Essex Property Trust has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Essex Property Trust's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Essex Property Trust's peer group average for short interest as a percentage of float is 3.28%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(ESS) - Analyzing Essex Property Trust's Short Interest

Wedbush analyst Richard Anderson maintains Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) with a Neutral and raises the price target from $240 to $264.

Wedbush Maintains Neutral on Essex Property Trust, Raises Price Target to $264

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Wedbush raised the price target for BJ&#8217;s Restaurants, Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>) from $40 to $43. Wedbush analyst Nick Setyan maintained an Outperform rating. BJ&#8217;s Restaurants shares rose 5.9% to close at $34.68 on Friday. <a href="https://www.benzinga.com/quote/BJRI/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Mizuho boosted the price target for Robinhood Markets, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) from $20 to $21. Mizuho analyst Dan Dolev maintained a Buy rating. Robinhood shares rose 1.9% to close at $17.95 on Friday. <a href="https://www.benzinga.com/quote/HOOD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities cut Fox Factory Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXF#NASDAQ">FOXF</a>) price target from $55 to $48. B of A Securities analyst Alexander Perr maintained a Neutral rating. Fox Factory shares rose 10.4% to close at $43.52 on Friday. <a href="https://www.benzinga.com/quote/FOXF/analyst-ratings">See how other analysts view this stock.</a></li>
<li>HC Wainwright &amp; Co. increased the price target for Franco-Nevada Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNV#NYSE">FNV</a>) from $175 to $185. HC Wainwright &amp; Co. analyst Heiko Ihle maintained a Buy rating. Franco-Nevada shares rose 1.9% to close at $123.25 on Friday. <a href="https://www.benzinga.com/quote/FNV/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Baird raised Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>) price target from $42 to $46. Baird analyst Andrew Wittmann maintained an Outperform rating. Fluor shares fell 5.7% to close at $38.90 on Friday. <a href="https://www.benzinga.com/quote/FLR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Piper Sandler increased Essex Property Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) price target from $291 to $315. Piper Sandler analyst Alexander Goldfarb maintained an Overweight rating. Essex Property Trust shares gained 0.2% to close at $250.31 on Friday. <a href="https://www.benzinga.com/quote/ESS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>HC Wainwright &amp; Co. raised the price target for Balchem Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCPC#NASDAQ">BCPC</a>) from $167 to $170. HC Wainwright &amp; Co. analyst Raghuram Selvaraju maintained a Buy rating. Balchem shares rose 2.8% to close at $150.40 on Friday. <a href="https://www.benzinga.com/quote/BCPC/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Bernstein boosted American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) price target from $21 to $22. Bernstein analyst David Vernon maintained an Outperform rating. American Airlines shares fell 0.1% to close at $13.85 on Friday. <a href="https://www.benzinga.com/quote/AAL/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley increased Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) price target from $16 to $18. Morgan Stanley analyst Patrick Wood upgraded the stock from Equal-Weight to Overweight. Bausch + Lomb shares fell 1.9% to close at $13.60 on Friday. <a href="https://www.benzinga.com/quote/BLCO/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wedbush increased Mid-America Apartment Communities, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAA#NYSE">MAA</a>) price target from $135 to $154. Wedbush analyst Richard Anderson upgraded the stock from Neutral to Outperform. Mid-America Apartment shares rose 1% to close at $133.00 on Friday. <a href="https://www.benzinga.com/quote/MAA/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
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Piper Sandler analyst Alexander Goldfarb maintains Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) with a Overweight and raises the price target from $291 to $315.

Piper Sandler Maintains Overweight on Essex Property Trust, Raises Price Target to $315

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Analysts fell to the sidelines weighing in on Essex Property (ESS – Research Report) and Blackstone Mortgage (BXMT – Research Report) with neutral ...

Essex Property Trust

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