Essex Property Trust Raises Full-Year Guidance After Strong First-Half Results

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โดย Simply Wall St·US·Read original
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Essex Property Trust raised its full-year targets for same-property revenues and core FFO per share after first-half 2026 results exceeded earlier expectations, supported by steady West Coast rental demand. The company also announced a new US$500 million share repurchase program and a shift in acquisition focus. Limited new multifamily supply in its core West Coast markets is expected to decline by 35% in the second half of 2025, which should reduce competitive pressure and support higher occupancy and rent growth. The stock last closed at $288.10, with a most-followed fair value estimate of $299.27, implying it is 3.7% undervalued, though it trades at a P/E of 44.7 times versus a global Residential REITs industry average of 21.6 times.

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