Essex Property Trust (NYSE:ESS) Price Target Raised to $282.00

by · The Cerbat Gem

Essex Property Trust (NYSE:ESS – Free Report) had its price target lifted by Scotiabank from $278.00 to $282.00 in a report published on Thursday, Marketbeat Ratings reports. Scotiabank currently has a sector outperform rating on the real estate investment trust’s stock.

Other analysts have also issued reports about the company. Royal Bank Of Canada raised their price objective on Essex Property Trust from $282.00 to $288.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Weiss Ratings raised Essex Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Stifel Nicolaus raised their price objective on Essex Property Trust from $278.00 to $281.50 and gave the company a “hold” rating in a report on Wednesday, April 29th. Robert W. Baird raised their price objective on Essex Property Trust from $279.00 to $281.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Finally, Barclays raised their price objective on Essex Property Trust from $272.00 to $277.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $284.28.

Read Our Latest Stock Report on ESS

Essex Property Trust Stock Down 0.6%

Shares of ESS stock opened at $266.89 on Thursday. The stock has a 50 day moving average of $253.64 and a 200 day moving average of $255.40. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.22. The stock has a market cap of $17.15 billion, a P/E ratio of 29.99, a P/E/G ratio of 11.56 and a beta of 0.71. Essex Property Trust has a twelve month low of $238.46 and a twelve month high of $294.09.

Essex Property Trust (NYSE:ESS – Get Free Report) last issued 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). Essex Property Trust had a net margin of 30.03% and a return on equity of 10.00%. The business had revenue of $484.76 million during the quarter, compared to analyst estimates of $479.89 million. During the same period in the previous year, the business posted $3.97 earnings per share. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. As a group, sell-side analysts expect that Essex Property Trust will post 16.04 EPS for the current year.

Essex Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $2.59 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $10.36 dividend on an annualized basis and a dividend yield of 3.9%. Essex Property Trust’s payout ratio is currently 116.40%.

Institutional Trading of Essex Property Trust

Institutional investors have recently made changes to their positions in the company. Caprock Group LLC purchased a new position in Essex Property Trust during the third quarter worth approximately $1,900,000. JPMorgan Chase & Co. lifted its position in Essex Property Trust by 3.9% during the third quarter. JPMorgan Chase & Co. now owns 594,450 shares of the real estate investment trust’s stock worth $159,114,000 after buying an additional 22,378 shares in the last quarter. Centersquare Investment Management LLC lifted its position in Essex Property Trust by 473.5% during the third quarter. Centersquare Investment Management LLC now owns 516,756 shares of the real estate investment trust’s stock worth $138,315,000 after buying an additional 426,650 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its position in Essex Property Trust by 23,100.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 2,552 shares of the real estate investment trust’s stock worth $683,000 after buying an additional 2,541 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in Essex Property Trust by 2.1% in the third quarter. ProShare Advisors LLC now owns 601,341 shares of the real estate investment trust’s stock valued at $160,955,000 after purchasing an additional 12,446 shares during the period. 96.51% of the stock is owned by institutional investors and hedge funds.

Essex Property Trust Company Profile

(Get Free Report)

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.

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