Are Wall Street Analysts Bullish on Essex Property Stock?

Core Insights - Essex Property Trust, Inc. is a leading real estate investment trust (REIT) focused on high-quality multifamily communities along the U.S. West Coast, with a market capitalization of $16.8 billion [1] - The company's stock has underperformed, declining 14.2% over the past 52 weeks and 8.5% year-to-date, lagging behind the S&P 500 Index which gained 11% and 12.3% in the same periods [2] - Essex's performance is also weaker compared to its sector, as the Real Estate Select Sector SPDR Fund (XLRE) fell 6.5% over the past 52 weeks but performed better in 2025 [3] Financial Performance - In Q3 2025, Essex reported a net income per share increase of 39% to $2.56, while core FFO rose about 1.5% to $3.97, with same-property revenue and NOI improving by 2.7% and 2.4%, respectively, and occupancy remaining strong at 96% [4] - The company raised its full-year net income per diluted share guidance by $0.41 to a range of $10.53 to $10.63 [4] Analyst Expectations - For the fiscal year 2025, analysts expect Essex's bottom line to grow by 2.3% year-over-year to $15.96 per share on a diluted basis, with a history of surpassing consensus estimates in the last four quarters [5] - Among 28 Wall Street analysts covering Essex, the consensus rating is a "Hold," consisting of six "Strong Buy," two "Moderate Buy," 18 "Hold," and two "Strong Sell" ratings [5]