Essex Property Trust, Inc. (NYSE:ESS) had its price objective boosted by Barclays PLC from $267.00 to $269.00 in a research note issued on Tuesday. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Barclays PLC’s target price suggests a potential upside of 3.94% from the stock’s current price.

A number of other brokerages have also weighed in on ESS. BidaskClub upgraded shares of Essex Property Trust from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Evercore ISI lowered shares of Essex Property Trust from an “in-line” rating to an “underperform” rating and set a $261.00 price objective for the company. in a report on Monday, June 12th. Jefferies Group LLC reiterated a “hold” rating and set a $234.00 price objective on shares of Essex Property Trust in a report on Tuesday, July 4th. BTIG Research lowered shares of Essex Property Trust from a “buy” rating to a “neutral” rating in a report on Friday, June 30th. Finally, Zacks Investment Research upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $289.00 price objective for the company in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $255.00.

Shares of Essex Property Trust (NYSE ESS) traded up 0.39% during trading on Tuesday, hitting $258.81. 279,847 shares of the company traded hands. Essex Property Trust has a 52 week low of $200.01 and a 52 week high of $268.97. The company has a market capitalization of $16.98 billion, a price-to-earnings ratio of 33.16 and a beta of 0.52. The company has a 50 day moving average price of $260.16 and a 200 day moving average price of $238.93.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.05. Essex Property Trust had a net margin of 38.94% and a return on equity of 8.04%. The company had revenue of $335.40 million during the quarter, compared to analyst estimates of $332.80 million. During the same quarter last year, the business posted $2.68 EPS. On average, analysts expect that Essex Property Trust will post $6.04 earnings per share for the current year.

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In other news, insider Michael J. Schall sold 13,668 shares of Essex Property Trust stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $252.63, for a total value of $3,452,946.84. Following the transaction, the insider now owns 58,431 shares of the company’s stock, valued at approximately $14,761,423.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Irving F. Lyons III sold 1,024 shares of Essex Property Trust stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $254.22, for a total transaction of $260,321.28. Following the completion of the transaction, the director now directly owns 8,854 shares in the company, valued at approximately $2,250,863.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,826 shares of company stock worth $8,272,799. Insiders own 3.30% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ESS. Gemmer Asset Management LLC increased its stake in Essex Property Trust by 0.7% in the first quarter. Gemmer Asset Management LLC now owns 4,235 shares of the real estate investment trust’s stock valued at $981,000 after buying an additional 29 shares in the last quarter. Capstone Asset Management Co. increased its stake in Essex Property Trust by 8.0% in the first quarter. Capstone Asset Management Co. now owns 6,387 shares of the real estate investment trust’s stock valued at $1,479,000 after buying an additional 475 shares in the last quarter. Bank of Montreal Can increased its stake in Essex Property Trust by 139.6% in the first quarter. Bank of Montreal Can now owns 950,717 shares of the real estate investment trust’s stock valued at $220,119,000 after buying an additional 553,947 shares in the last quarter. National Pension Service increased its stake in Essex Property Trust by 7.2% in the first quarter. National Pension Service now owns 58,109 shares of the real estate investment trust’s stock valued at $13,514,000 after buying an additional 3,888 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in Essex Property Trust by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 20,350 shares of the real estate investment trust’s stock valued at $4,711,000 after buying an additional 300 shares in the last quarter. 99.92% of the stock is currently owned by institutional investors.

Essex Property Trust Company Profile

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.

Analyst Recommendations for Essex Property Trust (NYSE:ESS)

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