Essex Property Trust (NYSE:ESS) Price Target Raised to $307.00 at Scotiabank

Essex Property Trust (NYSE:ESS) had its target price lifted by Scotiabank from $290.00 to $307.00 in a report released on Thursday morning, Marketbeat Ratings reports. Scotiabank currently has a sector outperform rating on the real estate investment trust’s stock.

Several other analysts also recently issued reports on the company. Barclays lifted their target price on Essex Property Trust from $272.00 to $277.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Morgan Stanley upped their price target on Essex Property Trust from $293.00 to $302.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. increased their price objective on shares of Essex Property Trust from $272.00 to $275.00 and gave the company an “underweight” rating in a report on Monday, May 18th. Stifel Nicolaus lifted their price objective on shares of Essex Property Trust from $278.00 to $281.50 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Finally, UBS Group set a $290.00 target price on shares of Essex Property Trust in a report on Thursday, June 18th. Nine investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Essex Property Trust currently has an average rating of “Hold” and a consensus price target of $293.03.

Essex Property Trust Trading Down 0.2%

Shares of ESS stock opened at $291.11 on Thursday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a fifty day simple moving average of $279.35 and a two-hundred day simple moving average of $262.40. The firm has a market capitalization of $18.71 billion, a PE ratio of 32.71, a PEG ratio of 12.57 and a beta of 0.70. Essex Property Trust has a 52-week low of $238.46 and a 52-week high of $303.35.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.65 EPS for the quarter, missing the consensus estimate of $3.96 by ($2.31). The business had revenue of $484.76 million during the quarter, compared to analysts’ expectations of $479.89 million. Essex Property Trust had a net margin of 30.03% and a return on equity of 10.00%. During the same quarter in the previous year, the firm earned $3.97 earnings per share. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. On average, analysts predict that Essex Property Trust will post 16.11 EPS for the current fiscal year.

Essex Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $2.59 per share. This represents a $10.36 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Essex Property Trust’s dividend payout ratio is 116.40%.

Insider Activity at Essex Property Trust

In other news, Director Mary Kasaris sold 600 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $279.45, for a total transaction of $167,670.00. Following the completion of the transaction, the director directly owned 2,394 shares in the company, valued at approximately $669,003.30. This represents a 20.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.47% of the company’s stock.

Hedge Funds Weigh In On Essex Property Trust

Several institutional investors have recently bought and sold shares of the business. Nemes Rush Group LLC bought a new position in shares of Essex Property Trust in the 4th quarter valued at about $27,000. Generali Asset Management SPA SGR bought a new stake in shares of Essex Property Trust in the 4th quarter valued at approximately $29,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Essex Property Trust in the 1st quarter valued at approximately $38,000. Western Wealth Management LLC purchased a new position in shares of Essex Property Trust in the 1st quarter worth approximately $44,000. Finally, True Wealth Design LLC boosted its holdings in shares of Essex Property Trust by 120.0% in the 4th quarter. True Wealth Design LLC now owns 176 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 96 shares during the period. Institutional investors own 96.51% of the company’s stock.

About Essex Property Trust

Essex Property Trust, Inc (NYSE: ESS) is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.