Essex Property Trust (NYSE:ESS) Price Target Increased to $250.00 by Analysts at Truist Financial

Essex Property Trust (NYSE:ESSGet Rating) had its price target upped by Truist Financial from $247.00 to $250.00 in a research note published on Tuesday, The Fly reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other brokerages have also commented on ESS. Royal Bank of Canada dropped their price target on shares of Essex Property Trust from $288.00 to $265.00 and set an outperform rating for the company in a research report on Friday, October 28th. JPMorgan Chase & Co. cut shares of Essex Property Trust from an overweight rating to a neutral rating and dropped their target price for the stock from $284.00 to $267.00 in a report on Friday, December 16th. KeyCorp dropped their price objective on shares of Essex Property Trust from $314.00 to $240.00 and set an overweight rating on the stock in a report on Wednesday, December 7th. StockNews.com upgraded shares of Essex Property Trust from a sell rating to a hold rating in a research report on Friday, January 13th. Finally, Evercore ISI reduced their price objective on shares of Essex Property Trust to $290.00 in a research report on Thursday, October 13th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Essex Property Trust has an average rating of Hold and a consensus price target of $254.85.

Essex Property Trust Stock Up 0.7 %

ESS stock opened at $220.08 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.05. The company has a market cap of $14.25 billion, a P/E ratio of 39.87, a P/E/G ratio of 1.95 and a beta of 0.72. The company’s 50-day moving average price is $213.78 and its 200 day moving average price is $241.98. Essex Property Trust has a 52 week low of $205.24 and a 52 week high of $363.36.

Essex Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Tuesday, January 3rd were given a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Friday, December 30th. Essex Property Trust’s dividend payout ratio (DPR) is presently 159.42%.

Insider Buying and Selling at Essex Property Trust

In other news, Director Amal M. Johnson purchased 500 shares of the company’s stock in a transaction dated Friday, December 2nd. The shares were purchased at an average cost of $218.44 per share, for a total transaction of $109,220.00. Following the purchase, the director now directly owns 2,000 shares in the company, valued at approximately $436,880. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Essex Property Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. increased its position in shares of Essex Property Trust by 24.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,261 shares of the real estate investment trust’s stock worth $781,000 after purchasing an additional 450 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in Essex Property Trust by 1.2% in the first quarter. Allianz Asset Management GmbH now owns 88,915 shares of the real estate investment trust’s stock valued at $30,718,000 after purchasing an additional 1,050 shares during the last quarter. Prudential PLC purchased a new stake in shares of Essex Property Trust during the 1st quarter worth about $475,000. Vanguard Group Inc. boosted its stake in shares of Essex Property Trust by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 10,614,782 shares of the real estate investment trust’s stock worth $3,667,195,000 after acquiring an additional 184,047 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its stake in shares of Essex Property Trust by 3.6% during the 1st quarter. Baird Financial Group Inc. now owns 53,635 shares of the real estate investment trust’s stock worth $18,530,000 after acquiring an additional 1,847 shares in the last quarter. Institutional investors own 91.76% of the company’s stock.

Essex Property Trust Company Profile

(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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