Essex Property Trust Stock Rating Upgraded by Stifel Nicolaus (ESS)
Essex Property Trust (NYSE:ESS) was upgraded by equities research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at MLV Capital cut their price target on shares of Essex Property Trust from $173.00 to $161.00 in a research note to investors on Friday, December 20th. They now have a “hold” rating on the stock. Separately, analysts at Jefferies Group cut their price target on shares of Essex Property Trust from $170.00 to $160.00 in a research note to investors on Friday, December 20th. Finally, analysts at KeyCorp downgraded shares of Essex Property Trust from a “buy” rating to a “hold” rating in a research note to investors on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Essex Property Trust has an average rating of “Buy” and an average price target of $170.41.
Essex Property Trust (NYSE:ESS) opened at 143.51 on Thursday. Essex Property Trust has a 52-week low of $137.53 and a 52-week high of $172.16. The stock has a 50-day moving average of $150.6 and a 200-day moving average of $154.4. The company has a market cap of $5.459 billion and a P/E ratio of 32.66.
Essex Property Trust (NYSE:ESS) last announced its earnings results on Wednesday, October 30th. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.01. During the same quarter in the previous year, the company posted $1.71 earnings per share. On average, analysts predict that Essex Property Trust will post $7.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a dividend of 1.21 per share. This represents a $4.84 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Monday, December 30th.
Essex Property Trust, Inc (NYSE:ESS) operates as a self-administered and self-managed real estate investment trust (REIT).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.