Essex Property Trust Upgraded to Buy at ISI Group (ESS)
Essex Property Trust (NYSE:ESS) was upgraded by investment analysts at ISI Group from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on ESS. Analysts at Cantor Fitzgerald upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating in a research note to investors on Friday. They now have a $177.50 price target on the stock, up previously from $171.00. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Essex Property Trust in a research note to investors on Friday, September 13th. They now have a $165.00 price target on the stock, down previously from $180.00. Finally, analysts at Cowen and Company cut their price target on shares of Essex Property Trust from $185.00 to $165.00 in a research note to investors on Thursday, September 12th. They now have an “outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $166.86.
Shares of Essex Property Trust (NYSE:ESS) opened at 148.50 on Monday. Essex Property Trust has a 1-year low of $136.38 and a 1-year high of $172.16. The stock has a 50-day moving average of $148.2 and a 200-day moving average of $155.7. The company has a market cap of $5.648 billion and a P/E ratio of 49.44.
Essex Property Trust (NYSE:ESS) last released its earnings data on Wednesday, July 31st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.01. During the same quarter in the previous year, the company posted $1.66 earnings per share. Analysts expect that Essex Property Trust will post $7.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.21 per share. This represents a $4.84 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Thursday, September 26th.
Essex Property Trust, Inc (NYSE:ESS) operates as a self-administered and self-managed real estate investment trust (REIT).
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