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.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
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
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue