Essex Property Trust Receives Consensus Recommendation of “Hold” from Brokerages (NYSE:ESS)
Shares of Essex Property Trust (NYSE:ESS) have been given an average rating of “Hold” by the fifteen analysts that are covering the stock, AmericanBankingNews.com reports. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $174.55.
Several analysts have recently commented on the stock. Analysts at RBC Capital upgraded shares of Essex Property Trust from a “sector perform” rating to an “outperform” rating in a research note on Wednesday. They now have a $214.00 price target on the stock, up previously from $188.00. Separately, 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. Finally, 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.
Shares of Essex Property Trust (NYSE:ESS) opened at 189.91 on Tuesday. Essex Property Trust has a one year low of $137.53 and a one year high of $193.92. The stock’s 50-day moving average is $188.9 and its 200-day moving average is $176.0. The company has a market cap of $12.056 billion and a price-to-earnings ratio of 65.07.
Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.72 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.64 by $0.08. During the same quarter in the prior year, the company posted $1.88 earnings per share. On average, analysts predict that Essex Property Trust will post $7.32 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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