Essex Property traded at $266.25 this Tuesday May 12th, decreasing $2.52 or 0.94 percent since the previous trading session. Looking back, over the last four weeks, Essex Property lost 6.95 percent. Over the last 12 months, its price fell by 5.18 percent. Looking ahead, we forecast Essex Property to be priced at 258.09 by the end of this quarter and at 242.40 in one year, according to Trading Economics global macro models projections and analysts expectations.
Essex Property Trust, Inc. is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets. The Company owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. (the Operating Partnership). Its properties include Mio, Form 15, Emerson Valley Village and Ashton Sherman Village. As of December 31, 2016, it owned or held an interest in 245 communities, aggregating 59,645 apartment homes, excluding its ownership in preferred equity investments, as well as two operating commercial buildings (totaling approximately 140,564 square feet), and six active development projects with 2,223 apartment homes in various stages of development.