Essex Property Trust, Inc. (NYSE:ESS) Receives $310.83 Average Price Target from Analysts

Essex Property Trust, Inc. (NYSE:ESSGet Free Report) has earned a consensus recommendation of “Hold” from the nineteen ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $310.83.

ESS has been the topic of a number of analyst reports. Mizuho decreased their target price on shares of Essex Property Trust from $314.00 to $293.00 and set an “outperform” rating on the stock in a research report on Friday, May 23rd. Truist Financial increased their target price on shares of Essex Property Trust from $292.00 to $304.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Royal Bank Of Canada decreased their target price on shares of Essex Property Trust from $311.00 to $309.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Piper Sandler restated an “overweight” rating and set a $355.00 target price (down previously from $370.00) on shares of Essex Property Trust in a research report on Friday, May 23rd. Finally, Barclays increased their target price on shares of Essex Property Trust from $303.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th.

Read Our Latest Report on ESS

Essex Property Trust Stock Up 0.2%

Shares of ESS opened at $284.66 on Wednesday. Essex Property Trust has a 52 week low of $243.85 and a 52 week high of $317.73. The firm has a market cap of $18.33 billion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 5.92 and a beta of 0.78. The firm’s 50-day simple moving average is $280.82 and its 200 day simple moving average is $286.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.04 and a current ratio of 1.04.

Essex Property Trust (NYSE:ESSGet Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $3.97 EPS for the quarter, beating analysts’ consensus estimates of $3.92 by $0.05. Essex Property Trust had a net margin of 37.08% and a return on equity of 11.81%. The business had revenue of $464.58 million for the quarter, compared to analyst estimates of $458.03 million. During the same quarter in the prior year, the business earned $3.83 EPS. On average, analysts forecast that Essex Property Trust will post 15.96 earnings per share for the current year.

Essex Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $2.57 per share. This represents a $10.28 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Monday, June 30th. Essex Property Trust’s dividend payout ratio (DPR) is presently 98.37%.

Institutional Trading of Essex Property Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC lifted its stake in Essex Property Trust by 3.3% in the 4th quarter. Empowered Funds LLC now owns 1,195 shares of the real estate investment trust’s stock valued at $338,000 after purchasing an additional 38 shares during the last quarter. Savant Capital LLC lifted its stake in Essex Property Trust by 11.8% in the 4th quarter. Savant Capital LLC now owns 1,049 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 111 shares during the last quarter. Catalyst Capital Advisors LLC lifted its stake in Essex Property Trust by 505.0% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 303 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Essex Property Trust by 4.6% in the 4th quarter. CIBC Asset Management Inc now owns 9,824 shares of the real estate investment trust’s stock valued at $2,804,000 after purchasing an additional 428 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Essex Property Trust by 315.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,304 shares of the real estate investment trust’s stock valued at $372,000 after purchasing an additional 990 shares during the last quarter. Institutional investors own 96.51% of the company’s stock.

Essex Property Trust Company Profile

(Get Free Report

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.

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Analyst Recommendations for Essex Property Trust (NYSE:ESS)

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