Essex Property Trust (NYSE:ESS) was upgraded by Mitsubishi UFJ Financial Group from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday.
Several other equities research analysts have also recently weighed in on ESS. Robert W. Baird restated a “buy” rating and set a $273.00 target price on shares of Essex Property Trust in a report on Tuesday, September 12th. Cantor Fitzgerald restated a “buy” rating and set a $280.00 target price on shares of Essex Property Trust in a report on Wednesday, September 13th. Zacks Investment Research upgraded Essex Property Trust from a “hold” rating to a “buy” rating and set a $289.00 target price for the company in a report on Tuesday, October 10th. Barclays reaffirmed a “buy” rating and set a $283.00 price target on shares of Essex Property Trust in a research report on Thursday, October 19th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $276.00 price target on shares of Essex Property Trust in a research report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Essex Property Trust presently has a consensus rating of “Buy” and a consensus price target of $271.06.
Shares of Essex Property Trust (NYSE ESS) traded up $0.62 during mid-day trading on Wednesday, reaching $239.37. The company had a trading volume of 344,191 shares, compared to its average volume of 369,086. The stock has a market cap of $15,800.00, a PE ratio of 30.00, a PEG ratio of 3.08 and a beta of 0.50. Essex Property Trust has a 52 week low of $218.41 and a 52 week high of $270.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.83 and a quick ratio of 0.83.
Several large investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC raised its position in shares of Essex Property Trust by 8.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 138,279 shares of the real estate investment trust’s stock worth $35,127,000 after acquiring an additional 10,465 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Essex Property Trust by 2.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 102,825 shares of the real estate investment trust’s stock worth $26,121,000 after acquiring an additional 2,072 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Essex Property Trust in the 3rd quarter worth approximately $1,696,000. IFM Investors Pty Ltd bought a new position in shares of Essex Property Trust in the 3rd quarter worth approximately $474,000. Finally, Neuberger Berman Group LLC raised its position in shares of Essex Property Trust by 11.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 120,213 shares of the real estate investment trust’s stock worth $30,538,000 after acquiring an additional 12,056 shares in the last quarter. 97.14% of the stock is owned by hedge funds and other institutional investors.
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.
