Essex Property Trust, Inc. (NYSE:ESS) Given Consensus Rating of “Hold” by Analysts

Essex Property Trust, Inc. (NYSE:ESSGet Rating) has been assigned a consensus rating of “Hold” from the twenty-one research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $313.63.

A number of equities research analysts have issued reports on the stock. Barclays downgraded shares of Essex Property Trust from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $367.00 to $310.00 in a research report on Tuesday, May 10th. The Goldman Sachs Group raised shares of Essex Property Trust from a “sell” rating to a “buy” rating and reduced their target price for the company from $352.00 to $338.00 in a research report on Tuesday, May 17th. Truist Financial reduced their target price on shares of Essex Property Trust from $323.00 to $299.00 and set a “buy” rating for the company in a research report on Friday, June 24th. Stifel Nicolaus reduced their target price on shares of Essex Property Trust from $390.00 to $352.00 in a research report on Thursday, June 9th. Finally, Evercore ISI set a $333.00 target price on shares of Essex Property Trust in a research report on Monday, June 20th.

Essex Property Trust Trading Down 1.1 %

ESS opened at $276.87 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.30 and a quick ratio of 1.30. Essex Property Trust has a fifty-two week low of $250.62 and a fifty-two week high of $363.36. The firm has a market capitalization of $18.03 billion, a PE ratio of 46.85, a P/E/G ratio of 3.14 and a beta of 0.77. The company’s 50-day moving average is $269.72 and its 200 day moving average is $308.27.

Essex Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Wednesday, June 29th. Essex Property Trust’s dividend payout ratio is currently 148.90%.

Hedge Funds Weigh In On Essex Property Trust

Several institutional investors and hedge funds have recently made changes to their positions in the business. CX Institutional bought a new position in shares of Essex Property Trust during the 2nd quarter valued at $49,000. Powell Investment Advisors LLC bought a new stake in Essex Property Trust in the 2nd quarter worth $327,000. American Money Management LLC grew its holdings in Essex Property Trust by 2.9% in the 2nd quarter. American Money Management LLC now owns 15,284 shares of the real estate investment trust’s stock worth $3,997,000 after acquiring an additional 426 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in Essex Property Trust by 14.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 28,391 shares of the real estate investment trust’s stock worth $7,425,000 after acquiring an additional 3,615 shares during the last quarter. Finally, Consolidated Investment Group LLC bought a new stake in Essex Property Trust in the 2nd quarter worth $1,909,000. Institutional investors own 96.09% of the company’s stock.

About Essex Property Trust

(Get Rating)

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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Analyst Recommendations for Essex Property Trust (NYSE:ESS)

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