Essex Property Trust Receives Consensus Rating of “Hold” from Brokerages (NYSE:ESS)
Essex Property Trust (NYSE:ESS) has been given a consensus rating of “Hold” by the thirteen analysts that are presently covering the company, ARN reports. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $162.11.
Shares of Essex Property Trust (NYSE:ESS) traded down 0.30% on Monday, hitting $183.97. The stock had a trading volume of 51,527 shares. Essex Property Trust has a 52 week low of $137.53 and a 52 week high of $185.99. The stock’s 50-day moving average is $180.9 and its 200-day moving average is $166.5. The company has a market cap of $11.501 billion and a P/E ratio of 46.99.
Essex Property Trust (NYSE:ESS) last released its earnings data 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. Analysts expect that Essex Property Trust will post $7.30 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Thursday, June 26th. This is an increase from Essex Property Trust’s previous quarterly dividend of $1.21.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Essex Property Trust from $186.00 to $189.00 in a research note on Friday, June 20th. They now have an “overweight” rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Essex Property Trust from $175.00 to $200.00 in a research note on Monday, June 9th. They now have an “outperform” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Essex Property Trust from $179.00 to $184.00 in a research note on Friday, May 30th. They now have an “overweight” 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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