Essex Property Trust Given Consensus Recommendation of “Hold” by Analysts (NYSE:ESS)
Shares of Essex Property Trust (NYSE:ESS) have been given an average rating of “Hold” by the thirteen brokerages that are covering the stock, Analyst Ratings.Net reports. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $158.44.
Essex Property Trust (NYSE:ESS) traded up 0.33% during mid-day trading on Thursday, hitting $179.20. The stock had a trading volume of 45,724 shares. Essex Property Trust has a 1-year low of $137.53 and a 1-year high of $181.69. The stock has a 50-day moving average of $173.4 and a 200-day moving average of $161.. The company has a market cap of $11.202 billion and a P/E ratio of 45.48.
Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $2.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.97 by $0.23. During the same quarter last year, the company posted $1.87 earnings per share. On average, analysts predict that Essex Property Trust will post $7.59 earnings per share for the current fiscal year.
A number of research firms have recently commented on ESS. Analysts at RBC Capital raised their price target on shares of Essex Property Trust from $168.00 to $188.00 in a research note on Wednesday, May 14th. They now have a “sector perform” rating on the stock. Separately, 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. Finally, 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.
Essex Property Trust, Inc (NYSE:ESS) operates as a self-administered and self-managed real estate investment trust (REIT).
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