Essex Property Trust (NYSE:ESS) was upgraded by analysts at BTIG Research from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, The Fly reports.
Several other analysts also recently weighed in on ESS. Morgan Stanley upped their price objective on Essex Property Trust from $260.00 to $267.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 16th. Barclays restated an “overweight” rating and set a $280.00 price objective (up from $269.00) on shares of Essex Property Trust in a research report on Monday, August 21st. BidaskClub upgraded Essex Property Trust from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. Stifel Nicolaus initiated coverage on Essex Property Trust in a research report on Friday, September 1st. They set a “buy” rating and a $294.00 price objective for the company. Finally, Robert W. Baird restated a “buy” rating and set a $273.00 price objective on shares of Essex Property Trust in a research report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $270.43.
Shares of Essex Property Trust (ESS) opened at $249.15 on Wednesday. The firm has a market capitalization of $16,453.79, a price-to-earnings ratio of 21.30, a PEG ratio of 3.36 and a beta of 0.50. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. Essex Property Trust has a 1 year low of $216.71 and a 1 year high of $270.04.
A number of institutional investors have recently bought and sold shares of the business. NEXT Financial Group Inc increased its stake in shares of Essex Property Trust by 9.3% in the third quarter. NEXT Financial Group Inc now owns 469 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 40 shares during the period. Washington Trust Bank increased its stake in shares of Essex Property Trust by 1.3% in the third quarter. Washington Trust Bank now owns 472 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 6 shares during the period. TLP Group LLC acquired a new stake in shares of Essex Property Trust in the third quarter valued at about $118,000. Tower Research Capital LLC TRC increased its stake in shares of Essex Property Trust by 145.3% in the second quarter. Tower Research Capital LLC TRC now owns 471 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 279 shares during the period. Finally, Sun Life Financial INC increased its stake in shares of Essex Property Trust by 5,900.0% in the second quarter. Sun Life Financial INC now owns 480 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 472 shares during the period. Hedge funds and other institutional investors own 97.26% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This report was originally published by American Banking and Market News and is the sole property of of American Banking and Market News. If you are accessing this report on another publication, it was stolen and republished in violation of United States & international copyright & trademark laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/12/13/essex-property-trust-ess-rating-increased-to-buy-at-btig-research.html.
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.
