Essex Property Trust (NYSE:ESS) Price Target Increased to $267.00 by Analysts at Stifel Nicolaus

Essex Property Trust (NYSE:ESSFree Report) had its price objective lifted by Stifel Nicolaus from $243.50 to $267.00 in a research report report published on Tuesday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the real estate investment trust’s stock.

Several other research analysts have also weighed in on the company. Raymond James raised Essex Property Trust from a market perform rating to an outperform rating and set a $265.00 price objective for the company in a research report on Monday, March 18th. Morgan Stanley lifted their price objective on Essex Property Trust from $230.00 to $250.00 and gave the stock an equal weight rating in a research report on Tuesday, May 14th. Evercore ISI lifted their price objective on Essex Property Trust from $254.00 to $260.00 and gave the stock an in-line rating in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on Essex Property Trust from $244.00 to $265.00 and gave the company a neutral rating in a research note on Monday, June 17th. Finally, Scotiabank raised their target price on Essex Property Trust from $283.00 to $285.00 and gave the company a sector outperform rating in a research note on Friday, June 14th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Essex Property Trust currently has an average rating of Hold and a consensus price target of $261.05.

Check Out Our Latest Stock Analysis on Essex Property Trust

Essex Property Trust Stock Performance

ESS stock opened at $276.21 on Tuesday. The stock has a 50-day moving average price of $266.50 and a 200-day moving average price of $249.00. Essex Property Trust has a 1-year low of $203.85 and a 1-year high of $284.77. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 1.14. The firm has a market cap of $17.74 billion, a PE ratio of 33.77, a price-to-earnings-growth ratio of 3.81 and a beta of 0.86.

Essex Property Trust Dividend Announcement

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 paid a dividend of $2.45 per share. The ex-dividend date is Friday, June 28th. This represents a $9.80 dividend on an annualized basis and a yield of 3.55%. Essex Property Trust’s dividend payout ratio (DPR) is currently 119.80%.

Insider Buying and Selling at Essex Property Trust

In other Essex Property Trust news, CEO Angela L. Kleiman sold 3,780 shares of Essex Property Trust stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $278.27, for a total transaction of $1,051,860.60. Following the completion of the transaction, the chief executive officer now owns 9,494 shares in the company, valued at approximately $2,641,895.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Keith R. Guericke sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $274.57, for a total value of $2,745,700.00. Following the transaction, the director now owns 16,118 shares in the company, valued at approximately $4,425,519.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Angela L. Kleiman sold 3,780 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $278.27, for a total value of $1,051,860.60. Following the completion of the transaction, the chief executive officer now owns 9,494 shares in the company, valued at approximately $2,641,895.38. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Essex Property Trust

Hedge funds and other institutional investors have recently modified their holdings of the business. Kingswood Wealth Advisors LLC raised its holdings in shares of Essex Property Trust by 19.3% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 12,474 shares of the real estate investment trust’s stock worth $3,396,000 after purchasing an additional 2,018 shares during the period. Versant Capital Management Inc raised its holdings in shares of Essex Property Trust by 15,050.0% in the 2nd quarter. Versant Capital Management Inc now owns 303 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 301 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Essex Property Trust in the 2nd quarter worth approximately $131,000. DNB Asset Management AS raised its holdings in shares of Essex Property Trust by 11.2% in the 2nd quarter. DNB Asset Management AS now owns 12,316 shares of the real estate investment trust’s stock worth $3,352,000 after purchasing an additional 1,238 shares during the period. Finally, M&R Capital Management Inc. raised its holdings in shares of Essex Property Trust by 5.4% in the 2nd quarter. M&R Capital Management Inc. now owns 1,014 shares of the real estate investment trust’s stock worth $276,000 after purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Essex Property Trust Company Profile

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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.

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Analyst Recommendations for Essex Property Trust (NYSE:ESS)

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