Essex Property Trust stock trades below analyst targets

Published on 09/25/2026 at 14:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Essex Property Trust stock stood at USD 271.65 on September 24, 2026, below Scotiabank's USD 293 target. Second-quarter core FFO reached USD 4.08 per share.

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Essex Property Trust stock (ISIN US29717P1049) closed at USD 271.65 on the NYSE on September 24, 2026, down 0.67 percent from the prior close of USD 273.47. The valuation debate sharpened after MarketBeat reported on September 17, 2026, that Scotiabank cut its target from USD 307.00 to USD 293.00.

Analyst target stays above price

Scotiabank kept a sector outperform rating while reducing the target to USD 293.00, leaving the price 7.29 percent below that level based on the September 24 close. The change matters because it combines a positive rating with a lower valuation ceiling, a more cautious signal than a simple target increase.

MarketBeat also listed a consensus rating of Hold and an average target of USD 303.24. That consensus stood USD 31.59 above the stock's September 24 close, placing valuation at the center of the debate.

Second quarter raised guidance

For Q2 2026, Essex reported core FFO of USD 4.08 per share, above the USD 4.03 consensus, while total revenue rose 4.1 percent year over year to USD 489.05 million, according to Yahoo Finance.

The same Q2 2026 report showed financial occupancy of 96.3 percent, up 10 basis points year over year. Full-year 2026 core FFO guidance increased to USD 16.03-16.25 per share from USD 15.69-16.19, lifting the midpoint by USD 0.20.

Dividend sets the next checkpoint

Business Wire reported that Essex declared a USD 2.59 per-share quarterly dividend payable October 15, 2026, to shareholders of record on September 30, 2026. The payment date gives income-focused shareholders a concrete near-term corporate checkpoint while the stock remains below the analyst targets cited above.

Stock remains below yearly high

At USD 271.65, the September 24 closing price was 10.44 percent below the 52-week high of USD 303.35 and 13.92 percent above the low of USD 238.46. Essex Property Trust had a market capitalization of USD 17.46 billion and volume of 716,961 shares on the same snapshot.