Essex Property Trust Stock Rating Upgraded by UBS AG (ESS)
Essex Property Trust (NYSE:ESS) was upgraded by UBS AG from a “neutral” rating to a “buy” rating in a research note issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $180.00 price objective on the stock. UBS AG’s price objective points to a potential upside of 12.02% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other firms have also recently commented on ESS. Analysts at Raymond James downgraded shares of Essex Property Trust from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday. Separately, analysts at ISI Group upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating in a research note to investors on Monday, October 7th. Finally, 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, October 4th. They now have a $177.50 price target on the stock, up previously from $171.00. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Essex Property Trust presently has an average rating of “Buy” and an average target price of $167.96.
Essex Property Trust (NYSE:ESS) traded down 0.39% on Friday, hitting $160.06. The stock had a trading volume of 193,073 shares. Essex Property Trust has a 1-year low of $136.38 and a 1-year high of $172.16. The stock’s 50-day moving average is $150.3 and its 200-day moving average is $155.9. The company has a market cap of $6.087 billion and a P/E ratio of 53.28.
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. On average, analysts predict that Essex Property Trust will post $7.77 earnings per share for the current fiscal year.
Essex Property Trust, Inc (NYSE:ESS) operates as a self-administered and self-managed real estate investment trust (REIT).
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