Essex Property Trust (NYSE:ESS) has been given a $250.00 target price by Sandler O’Neill in a research report issued to clients and investors on Friday. The firm presently has a “hold” rating on the real estate investment trust’s stock. Sandler O’Neill’s price target suggests a potential upside of 10.08% from the stock’s previous close.

ESS has been the subject of a number of other research reports. Zacks Investment Research raised 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. Raymond James Financial reaffirmed an “underperform” rating on shares of Essex Property Trust in a report on Monday, January 8th. Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating on shares of Essex Property Trust in a report on Friday, November 3rd. Evercore ISI raised Essex Property Trust from an “in-line” rating to an “outperform” rating and set a $274.00 target price for the company in a report on Monday, December 11th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $276.00 target price on shares of Essex Property Trust in a report on Friday, October 20th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $269.41.

Essex Property Trust (NYSE ESS) traded down $5.27 during trading on Friday, hitting $227.10. The company had a trading volume of 435,730 shares, compared to its average volume of 388,197. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.83 and a quick ratio of 0.83. Essex Property Trust has a 12-month low of $218.41 and a 12-month high of $270.04. The firm has a market capitalization of $14,990.00, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 3.00 and a beta of 0.50.

In other news, CEO Michael J. Schall sold 4,801 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $247.37, for a total value of $1,187,623.37. Following the completion of the sale, the chief executive officer now directly owns 49,564 shares in the company, valued at $12,260,646.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Angela L. Kleiman sold 600 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $247.16, for a total value of $148,296.00. Following the completion of the sale, the chief financial officer now owns 7,777 shares of the company’s stock, valued at $1,922,163.32. The disclosure for this sale can be found here. Insiders sold 9,687 shares of company stock valued at $2,408,772 over the last 90 days. Company insiders own 3.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Essex Property Trust by 0.8% in the second quarter. Vanguard Group Inc. now owns 11,496,906 shares of the real estate investment trust’s stock valued at $2,957,809,000 after buying an additional 92,531 shares in the last quarter. BlackRock Inc. increased its position in shares of Essex Property Trust by 1.5% in the second quarter. BlackRock Inc. now owns 6,573,361 shares of the real estate investment trust’s stock valued at $1,691,128,000 after buying an additional 94,331 shares in the last quarter. State Street Corp increased its position in shares of Essex Property Trust by 0.7% in the second quarter. State Street Corp now owns 4,744,926 shares of the real estate investment trust’s stock valued at $1,220,731,000 after buying an additional 30,726 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Essex Property Trust by 3.6% in the third quarter. Principal Financial Group Inc. now owns 2,328,165 shares of the real estate investment trust’s stock valued at $591,424,000 after buying an additional 80,573 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Essex Property Trust by 3.6% in the second quarter. Northern Trust Corp now owns 1,094,493 shares of the real estate investment trust’s stock valued at $281,580,000 after buying an additional 37,953 shares in the last quarter. Institutional investors and hedge funds own 97.14% of the company’s stock.

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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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