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Equities research analysts at RBC Capital raised their target price on shares of Essex Property Trust (NYSE:ESS) from $168.00 to $188.00 in a research note issued to investors on Wednesday, StockRatingsNetwork.com reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price target points to a potential upside of 4.87% from the company’s current price.

ESS has been the subject of a number of other recent research reports. Analysts at MLV & Co
raised their price target on shares of Essex Property Trust to $191.00 in a research note on Friday, May 9th. Separately, analysts at Wells Fargo & Co. initiated coverage on shares of Essex Property Trust in a research note on Wednesday, May 7th. They set a “market perform” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Essex Property Trust from $182.00 to $186.00 in a research note on Thursday, May 1st. They now have an “overweight” rating on the stock. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Essex Property Trust currently has an average rating of “Hold” and a consensus price target of $160.55.

Essex Property Trust (NYSE:ESS) opened at 179.27 on Wednesday. Essex Property Trust has a one year low of $137.53 and a one year high of $181.69. The stock’s 50-day moving average is $171.4 and its 200-day moving average is $160.9. The company has a market cap of $6.756 billion and a P/E ratio of 46.12. Essex Property Trust also was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 2,082,085 shares, a decline of 41.1% from the March 31st total of 3,536,388 shares. Currently, 3.4% of the shares of the company are short sold. Based on an average daily trading volume, of 2,560,972 shares, the days-to-cover ratio is currently 0.8 days.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Wednesday, May 7th. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.23. During the same quarter in the previous year, the company posted $1.87 earnings per share. On average, analysts predict that Essex Property Trust will post $7.83 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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