Essex Property Trust, Inc. (NYSE:ESS)‘s stock had its “hold” rating reissued by SunTrust Banks, Inc. in a research report issued to clients and investors on Friday. They presently have a $270.00 price target on the real estate investment trust’s stock. SunTrust Banks, Inc.’s target price would suggest a potential upside of 6.31% from the company’s current price.

A number of other research firms also recently weighed in on ESS. Canaccord Genuity set a $270.00 price target on shares of Essex Property Trust and gave the stock a “hold” rating in a research report on Monday, July 31st. Morgan Stanley lifted their price objective on shares of Essex Property Trust from $260.00 to $267.00 and gave the stock an “overweight” rating in a report on Wednesday, August 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $276.00 price objective (up previously from $267.00) on shares of Essex Property Trust in a report on Sunday, August 13th. Stifel Nicolaus initiated coverage on shares of Essex Property Trust in a report on Friday, September 1st. They issued a “buy” rating and a $294.00 price objective for the company. Finally, Zacks Investment Research raised 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, October 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Essex Property Trust has a consensus rating of “Hold” and a consensus price target of $269.13.

Shares of Essex Property Trust (NYSE:ESS) opened at $253.98 on Friday. The stock has a market capitalization of $16.75 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 3.59 and a beta of 0.54. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.83 and a current ratio of 1.83.

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In other Essex Property Trust news, CEO Michael J. Schall sold 333 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $257.92, for a total value of $85,887.36. Following the sale, the chief executive officer now directly owns 45,096 shares in the company, valued at $11,631,160.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John D. Eudy sold 166 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $257.92, for a total value of $42,814.72. The disclosure for this sale can be found here. Insiders sold 10,064 shares of company stock worth $2,673,529 over the last quarter. 3.30% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantitative Systematic Strategies LLC bought a new stake in shares of Essex Property Trust during the third quarter valued at about $807,000. LMR Partners LLP raised its stake in shares of Essex Property Trust by 15.7% during the second quarter. LMR Partners LLP now owns 3,263 shares of the real estate investment trust’s stock valued at $840,000 after purchasing an additional 443 shares in the last quarter. NN Investment Partners Holdings N.V. raised its stake in shares of Essex Property Trust by 4.0% during the second quarter. NN Investment Partners Holdings N.V. now owns 240,093 shares of the real estate investment trust’s stock valued at $61,769,000 after purchasing an additional 9,300 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Essex Property Trust by 4.3% during the second quarter. Principal Financial Group Inc. now owns 2,247,592 shares of the real estate investment trust’s stock valued at $578,237,000 after purchasing an additional 91,814 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. bought a new stake in shares of Essex Property Trust during the second quarter valued at about $2,102,000. Institutional investors and hedge funds own 99.63% of the company’s stock.

About Essex Property Trust

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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