Home Most Popular Analyzing Essex Property Trust: Breaking Down Analyst Ratings and Target Price Reaches

Analyzing Essex Property Trust: Breaking Down Analyst Ratings and Target Price Reaches

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Analyzing Essex Property Trust: Breaking Down Analyst Ratings and Target Price Reaches

Sharing the trading grounds with the likes of Essex Property Trust Inc (Symbol: ESS) lately have witnessed a noteworthy milestone – breezing past the $242.86 average analyst 12-month target price with a deal clinch at $243.58 per share. The big question on analysts’ minds when this occurs is a critical crossroads: should they dial down enthusiasm due to valuation concerns or raise the bar on the target price in view of changing fundamentals?

The Zacks coverage universe boasts 21 different analyst targets shaping that average for Essex Property Trust Inc. Lest we forget that the average isn’t a be-all and end-all; there are outliers here, with a lone wolf betting on a $204.00 price point, while on the flip side, a high-flier throws in a target as steep as $291.00. Tunneling in further, the standard deviation holds steady at $21.804.

Considering the rationale behind scouting the mean ESS price target in the first place is tapping into a collective “wisdom of the crowd,” amalgamating the perspectives of all contributors rather than just banking on one oracle’s vision. Therefore, with ESS soaring past that average target price of $242.86 per share, ESS investors are essentially being handed a weighty signpost urging a fresh evaluation of the company to weigh in: is $242.86 merely a juncture en route to loftier benchmarks, or has the valuation stretched to a point warranting profit-taking? Below sits a snapshot illuminating the current sentiments of the analysts monitoring Essex Property Trust Inc:

Insight into Recent ESS Analyst Ratings
» Current 1 Month Ago 2 Months Ago 3 Months Ago
Strong buy ratings: 4 3 3 2
Buy ratings: 1 1 1 1
Hold ratings: 16 17 16 17
Sell ratings: 0 0 0 0
Strong sell ratings: 3 2 2 2
Average rating: 2.88 2.87 2.86 2.95

The average rating nestled in the lower precincts of the above table ranges from 1 to 5, where 1 denotes Strong Buy and 5 pans out to a Strong Sell. This piece of financial insight frolics in data sourced from Zacks Investment Research disseminated through Quandl.com. Sway by for the freshest Zacks research report on ESS — a gratis stint for the curious minds.

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The whispers echoing through this piece are the musings and contemplations voiced by the author, a cacophony distinct from the resonances of Nasdaq, Inc.