Essex Property Trust, Inc. (NYSE:ESS) Receives Average Recommendation of “Hold” from Brokerages

Essex Property Trust, Inc. (NYSE:ESSGet Free Report) has received a consensus rating of “Hold” from the nineteen brokerages that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $257.33.

Several research analysts recently commented on ESS shares. Piper Sandler lifted their target price on shares of Essex Property Trust from $291.00 to $315.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. UBS Group increased their price target on shares of Essex Property Trust from $250.00 to $261.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Wedbush increased their price objective on shares of Essex Property Trust from $240.00 to $264.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Stifel Nicolaus raised their price target on shares of Essex Property Trust from $239.50 to $243.50 and gave the company a “hold” rating in a report on Wednesday, May 1st. Finally, Wells Fargo & Company raised their price target on shares of Essex Property Trust from $232.00 to $269.00 and gave the company an “equal weight” rating in a report on Friday, May 31st.

Check Out Our Latest Research Report on Essex Property Trust

Essex Property Trust Stock Performance

Shares of ESS stock opened at $268.07 on Friday. Essex Property Trust has a one year low of $203.85 and a one year high of $269.36. The firm has a 50-day moving average of $251.42 and a 200-day moving average of $241.37. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.19 and a quick ratio of 3.19. The company has a market cap of $17.21 billion, a P/E ratio of 32.77, a P/E/G ratio of 3.76 and a beta of 0.84.

Essex Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, June 28th will be given a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Friday, June 28th. Essex Property Trust’s dividend payout ratio is currently 119.80%.

Institutional Investors Weigh In On Essex Property Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. EP Wealth Advisors LLC boosted its stake in shares of Essex Property Trust by 3.7% in the first quarter. EP Wealth Advisors LLC now owns 1,228 shares of the real estate investment trust’s stock valued at $301,000 after buying an additional 44 shares in the last quarter. Cornercap Investment Counsel Inc. raised its holdings in shares of Essex Property Trust by 2.4% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 1,913 shares of the real estate investment trust’s stock worth $474,000 after acquiring an additional 45 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Essex Property Trust by 1.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 2,552 shares of the real estate investment trust’s stock worth $633,000 after acquiring an additional 45 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in Essex Property Trust by 2.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,866 shares of the real estate investment trust’s stock valued at $463,000 after purchasing an additional 51 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Essex Property Trust by 10.3% in the first quarter. GAMMA Investing LLC now owns 591 shares of the real estate investment trust’s stock valued at $145,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

About Essex Property Trust

(Get Free Report

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.

Further Reading

Analyst Recommendations for Essex Property Trust (NYSE:ESS)

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