Piper Sandler analyst Alexander Goldfarb last night downgraded Essex Property Trust (ESS) to Neutral from Overweight with a price target of $275, down from $355. The Q2 earnings reports in real estate thus far have shown weaker fundamentals for apartments, the analyst tells investors in a research note. The firm says Friday’s job report provided insight into why new apartment rents have been slower this peak leasing season. It cites the outlook for apartments and its reduced estimates for the downgrade.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ESS:
- Essex Property Trust downgraded to Neutral from Overweight at Piper Sandler
- Essex Property Trust’s Earnings Call: Balanced Growth and Challenges
- Essex Property Trust Reports Strong Q2 2025 Results
- Essex Property Trust price target raised to $305.50 from $301.50 at Stifel
- Essex Property Trust reports Q2 core FFO $4.03, consensus $3.99