Essex Property Trust Sets New 1-Year High at $186.50 (ESS)
Essex Property Trust (NYSE:ESS)’s share price hit a new 52-week high on Tuesday , ARN reports. The stock traded as high as $186.50 and last traded at $185.96, with a volume of 196,161 shares changing hands. The stock had previously closed at $184.91.
ESS has been the subject of a number of recent research reports. 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. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $162.11.
The stock has a 50-day moving average of $181.1 and a 200-day moving average of $167.0. The company has a market cap of $11.609 billion and a P/E ratio of 47.09.
Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data 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. Analysts expect that Essex Property Trust will post $7.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, June 26th. This is a boost from Essex Property Trust’s previous quarterly dividend of $1.21.
Essex Property Trust, Inc (NYSE:ESS) operates as a self-administered and self-managed real estate investment trust (REIT).
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