Piper Sandler Boosts Essex Property Trust (NYSE:ESS) Price Target to $315.00

Essex Property Trust (NYSE:ESS) had its price target raised by equities researchers at Piper Sandler from $291.00 to $315.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s target price points to a potential upside of 22.25% from the stock’s current price.

A number of other analysts also recently issued reports on ESS. Barclays lifted their price target on shares of Essex Property Trust from $224.00 to $225.00 and gave the company an “underweight” rating in a report on Tuesday, February 20th. Bank of America raised Essex Property Trust from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $250.00 to $275.00 in a report on Monday, April 1st. Mizuho raised Essex Property Trust from a “neutral” rating to a “buy” rating and dropped their price target for the company from $255.00 to $250.00 in a research note on Wednesday, February 28th. Stifel Nicolaus lifted their price objective on Essex Property Trust from $239.50 to $243.50 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft started coverage on Essex Property Trust in a report on Tuesday, January 30th. They set a “hold” rating and a $240.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $249.76.

Essex Property Trust Stock Up 0.9 %

NYSE ESS opened at $257.67 on Monday. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 1.14. Essex Property Trust has a 12 month low of $203.85 and a 12 month high of $258.06. The stock’s 50 day moving average is $241.53 and its 200 day moving average is $233.61. The stock has a market cap of $16.54 billion, a PE ratio of 31.50, a P/E/G ratio of 3.67 and a beta of 0.79.

Institutional Trading of Essex Property Trust

Several institutional investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC raised its holdings in shares of Essex Property Trust by 111.5% in the fourth quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 58 shares during the period. Venturi Wealth Management LLC lifted its position in shares of Essex Property Trust by 112.3% during the first quarter. Venturi Wealth Management LLC now owns 138 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 73 shares during the last quarter. Vima LLC purchased a new stake in shares of Essex Property Trust during the fourth quarter valued at $40,000. Bruce G. Allen Investments LLC bought a new position in shares of Essex Property Trust in the fourth quarter worth about $41,000. Finally, Bear Mountain Capital Inc. purchased a new position in Essex Property Trust in the 4th quarter worth about $55,000. Institutional investors own 96.51% of the company’s stock.

Essex Property Trust Company Profile

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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.