Essex Property Trust, Inc. (ESS) is a residential REIT valued at $17.2 billion, focusing on multifamily apartment communities in supply-constrained coastal markets in California and Seattle. The stock has dropped 15.4% from its 52-week high and 5.8% over the past three months, underperforming the Real Estate Select Sector SPDR Fund (XLRE).

The company released its Q2 results, with revenue up 6.2% year-over-year to $469.83 million and Core FFO increasing 2.3% to $4.03 per share. Share prices fell 7.6% post-results. Invitation Homes Inc. (INVH) has underperformed ESS, declining 17.8% over the past year and 7.3% in 2025.

Essex Property Trust’s stock has been trading below its 50-day and 200-day moving averages since early April, indicating a downtrend. With 27 analysts covering the stock, the consensus rating is “Hold,” with a mean price target of $294.12, representing a 9.9% premium from current market prices.

Read more at Yahoo Finance: Is ESS Underperforming the Real Estate Sector?