Essex Property Trust Upgraded to Outperform at RBC Capital (ESS)
Essex Property Trust (NYSE:ESS) was upgraded by equities research analysts at RBC Capital from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $214.00 price target on the stock, up from their previous price target of $188.00. RBC Capital’s price target suggests a potential upside of 13.87% from the company’s current price.
A number of other analysts have also recently weighed in on ESS. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Essex Property Trust in a research note on Tuesday. They now have a $190.00 price target on the stock, up previously from $170.00. Separately, analysts at MLV & Co
raised their price target on shares of Essex Property Trust from $4.00 to $195.00 in a research note on Friday, August 8th. Finally, analysts at ISI Group raised their price target on shares of Essex Property Trust from $5.00 to $202.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $174.55.
Shares of Essex Property Trust (NYSE:ESS) traded up 1.15% during mid-day trading on Wednesday, hitting $190.09. The stock had a trading volume of 88,469 shares. Essex Property Trust has a 52 week low of $137.53 and a 52 week high of $193.92. The stock’s 50-day moving average is $188.4 and its 200-day moving average is $175.5. The company has a market cap of $11.843 billion and a price-to-earnings ratio of 64.45.
Essex Property Trust (NYSE:ESS) last released its earnings data on Wednesday, August 6th. The company reported $1.72 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.64 by $0.08. During the same quarter last year, the company posted $1.88 earnings per share. On average, analysts predict that Essex Property Trust will post $7.40 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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