Essex Property Trust (NYSE:ESS) has been assigned a $235.00 price target by investment analysts at Sandler O’Neill in a research note issued on Friday. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Sandler O’Neill’s target price suggests a potential upside of 3.10% from the stock’s current price.
ESS has been the subject of several other reports. Raymond James Financial reissued 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 research note on Friday, November 3rd. Evercore ISI raised Essex Property Trust from an “in-line” rating to an “outperform” rating and set a $274.00 price objective for the company in a research note on Monday, December 11th. Zacks Investment Research downgraded Essex Property Trust from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $276.00 price objective on shares of Essex Property Trust in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $262.76.
Essex Property Trust (ESS) traded up $9.66 on Friday, hitting $227.94. The stock had a trading volume of 764,544 shares, compared to its average volume of 425,794. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.88. The firm has a market cap of $15,050.00, a PE ratio of 34.69, a P/E/G ratio of 2.81 and a beta of 0.42. Essex Property Trust has a 1-year low of $214.03 and a 1-year high of $270.04.
In other Essex Property Trust news, EVP John D. Eudy sold 1,700 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $247.24, for a total transaction of $420,308.00. Following the completion of the transaction, the executive vice president now owns 10,130 shares of the company’s stock, valued at $2,504,541.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Schall sold 4,801 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 49,564 shares of the company’s stock, valued at approximately $12,260,646.68. The disclosure for this sale can be found here. Insiders have sold 8,102 shares of company stock valued at $2,003,715 in the last three months. 3.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in ESS. Janus Henderson Group PLC increased its position in Essex Property Trust by 292.6% during the third quarter. Janus Henderson Group PLC now owns 469,858 shares of the real estate investment trust’s stock worth $119,358,000 after buying an additional 350,192 shares in the last quarter. Koch Industries Inc. purchased a new position in Essex Property Trust during the second quarter worth $301,000. Barings LLC purchased a new position in Essex Property Trust during the third quarter worth $63,549,000. Canada Pension Plan Investment Board increased its position in Essex Property Trust by 7,265.5% during the third quarter. Canada Pension Plan Investment Board now owns 184,505 shares of the real estate investment trust’s stock worth $46,870,000 after buying an additional 182,000 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Essex Property Trust by 1.4% during the fourth quarter. BlackRock Inc. now owns 6,812,160 shares of the real estate investment trust’s stock worth $1,644,253,000 after purchasing an additional 94,542 shares during the last quarter. 96.82% of the stock is owned by institutional investors.
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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.
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