Essex Property Trust (NYSE:ESS) PT Raised to $315.00 at Piper Sandler

Essex Property Trust (NYSE:ESS) had its target price raised by stock analysts at Piper Sandler from $291.00 to $315.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s target price points to a potential upside of 22.25% from the stock’s current price.

Several other research analysts have also issued reports on ESS. Stifel Nicolaus raised their target price on Essex Property Trust from $239.50 to $243.50 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. Royal Bank of Canada lifted their price objective on Essex Property Trust from $237.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. StockNews.com upgraded Essex Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Wedbush restated a “neutral” rating and set a $240.00 price target on shares of Essex Property Trust in a report on Monday, April 29th. Finally, Bank of America raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and upped their price objective for the company from $250.00 to $275.00 in a research note on Monday, April 1st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $249.76.

Essex Property Trust Trading Up 0.9 %

Shares of NYSE ESS opened at $257.67 on Monday. The stock has a market cap of $16.54 billion, a P/E ratio of 31.50, a price-to-earnings-growth ratio of 3.67 and a beta of 0.79. The firm has a 50 day moving average price of $241.53 and a two-hundred day moving average price of $233.61. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.19 and a current ratio of 3.19. Essex Property Trust has a 52-week low of $203.85 and a 52-week high of $258.06.

Institutional Investors Weigh In On Essex Property Trust

A number of hedge funds have recently added to or reduced their stakes in ESS. Norges Bank acquired a new position in shares of Essex Property Trust during the fourth quarter worth approximately $675,183,000. Cohen & Steers Inc. increased its stake in Essex Property Trust by 31.2% during the 4th quarter. Cohen & Steers Inc. now owns 3,072,004 shares of the real estate investment trust’s stock valued at $761,760,000 after purchasing an additional 730,141 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Essex Property Trust by 86.5% during the first quarter. Daiwa Securities Group Inc. now owns 997,792 shares of the real estate investment trust’s stock worth $244,269,000 after buying an additional 462,828 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Essex Property Trust by 119.3% in the fourth quarter. Russell Investments Group Ltd. now owns 412,721 shares of the real estate investment trust’s stock valued at $102,602,000 after buying an additional 224,554 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Essex Property Trust by 5,069.7% during the third quarter. Wellington Management Group LLP now owns 208,651 shares of the real estate investment trust’s stock valued at $44,253,000 after buying an additional 204,615 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

About Essex Property Trust

Essex Property Trust, Inc, an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.