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JPMorgan Raises its Price Target on Essex Property Trust (ESS)

Essex Property Trust, Inc. (NYSE:ESS) is one of the 10 Best Residential REITs to Buy in 2026.

On May 18, 2026, JPMorgan analyst Anthony Paolone raised the firm’s price target on Essex Property Trust, Inc. (NYSE:ESS) to $275 from $272 while maintaining an Underweight rating on the shares.

Scotiabank also raised the firm’s price target on Essex Property Trust, Inc. (NYSE:ESS) to $282 from $278 and reiterated an Outperform rating. The firm said it continues to expect a slower recovery across Sunbelt apartment markets due to lingering oversupply conditions, but noted that Essex remains one of its preferred multifamily REIT names because of its exposure to Northern California markets.

Cantor Fitzgerald likewise raised the firm’s price target on Essex Property Trust, Inc. (NYSE:ESS) to $291 from $290 and maintained an Overweight rating on the shares. The firm updated its multifamily REIT models following first-quarter earnings reports and said that while new multifamily supply deliveries have started trending lower, elevated supply levels are still limiting landlords’ ability to generate stronger new lease pricing growth.

Last month, Essex Property Trust, Inc. (NYSE:ESS) reported Q1 FFO of $4.06 per share, versus the consensus estimate of $3.96. Same-property revenue and NOI increased 2.9% and 4.1%, respectively, compared to the prior-year quarter. Sequentially, same-property revenue improved 0.7% while NOI increased 1.3%.

Essex Property Trust, Inc. (NYSE:ESS) is a multifamily REIT focused on acquiring, developing, redeveloping, and managing apartment properties across selected West Coast markets.

While we acknowledge the risk and potential of ESS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ESS and that has 10,000% upside potential, check out our report about the cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. 

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The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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Wall Street calls this $3 stock a “Melting Ice Cube.” They said the same thing about BTI before it returned 90%.

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

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We looked under the cover and realized they were wrong.

We alerted our subscribers, and BTI returned 90% in just 16 months.

Now if you had invested just $10,000 in BTI in June 2024, you’d be sitting on $19,000 in October 2025.

Today, we have identified a nearly identical pattern in a digital-first giant trading at $3.

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This pattern is a hallmark of our 16.5% annual return track record. The current opportunity offers a 400% upside potential—dwarfing even our 90% BTI return.

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