Essex Property Trust (ESS) – Investment Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Essex Property Trust (NYSE: ESS) recently:

  • 5/25/2022 – Essex Property Trust had its price target lowered by analysts at Morgan Stanley from $343.00 to $313.00. They now have an “equal weight” rating on the stock.
  • 5/25/2022 – Essex Property Trust had its price target lowered by analysts at Truist Financial Co. from $370.00 to $323.00. They now have a “buy” rating on the stock.
  • 5/19/2022 – Essex Property Trust had its price target lowered by analysts at Scotiabank from $340.00 to $333.00.
  • 5/17/2022 – Essex Property Trust was upgraded by analysts at The Goldman Sachs Group, Inc. from a “sell” rating to a “buy” rating. They now have a $338.00 price target on the stock, down previously from $352.00.
  • 5/13/2022 – Essex Property Trust was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 5/10/2022 – Essex Property Trust was downgraded by analysts at Barclays PLC from an “equal weight” rating to an “underweight” rating. They now have a $310.00 price target on the stock, down previously from $367.00.
  • 5/4/2022 – Essex Property Trust had its price target lowered by analysts at Piper Sandler from $420.00 to $400.00.
  • 4/8/2022 – Essex Property Trust had its price target raised by analysts at Morgan Stanley from $335.00 to $365.00. They now have an “equal weight” rating on the stock.
  • 3/31/2022 – Essex Property Trust is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.

Shares of NYSE:ESS opened at $283.13 on Friday. Essex Property Trust, Inc. has a 1-year low of $275.33 and a 1-year high of $363.36. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.41 and a quick ratio of 1.41. The business has a fifty day moving average price of $327.23 and a 200-day moving average price of $334.23. The company has a market capitalization of $18.50 billion, a PE ratio of 46.88, a PEG ratio of 4.13 and a beta of 0.74.

Essex Property Trust (NYSE:ESSGet Rating) last released its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.35 by ($2.23). Essex Property Trust had a net margin of 26.81% and a return on equity of 5.25%. During the same period in the prior year, the company earned $3.07 EPS. On average, sell-side analysts anticipate that Essex Property Trust, Inc. will post 13.99 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Wednesday, June 29th. Essex Property Trust’s payout ratio is 145.70%.

In other news, COO Angela L. Kleiman sold 6,309 shares of the stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $354.21, for a total value of $2,234,710.89. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael J. Schall sold 12,132 shares of the firm’s stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $349.19, for a total value of $4,236,373.08. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Cassady Schiller Wealth Management LLC acquired a new position in Essex Property Trust during the 4th quarter worth $28,000. Riverview Trust Co purchased a new stake in shares of Essex Property Trust in the 1st quarter valued at about $31,000. Eagle Bay Advisors LLC raised its stake in Essex Property Trust by 1,471.4% during the 3rd quarter. Eagle Bay Advisors LLC now owns 110 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 103 shares during the last quarter. Danda Trouve Investment Management Inc. purchased a new stake in Essex Property Trust during the 4th quarter valued at approximately $40,000. Finally, Total Clarity Wealth Management Inc. acquired a new position in Essex Property Trust during the 4th quarter worth approximately $45,000. Institutional investors own 96.09% of the company’s stock.

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 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.

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