Essex Property Trust (NYSE:ESS) Price Target Lowered to $279.00 at Wells Fargo & Company

Essex Property Trust (NYSE:ESS) had its target price reduced by Wells Fargo & Company from $325.00 to $279.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

ESS has been the topic of several other research reports. Truist Financial dropped their price objective on shares of Essex Property Trust from $295.00 to $283.00 and set a “hold” rating on the stock in a research note on Tuesday, August 12th. Morgan Stanley lowered their target price on shares of Essex Property Trust from $304.00 to $285.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Royal Bank Of Canada boosted their price target on Essex Property Trust from $306.00 to $307.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Stifel Nicolaus upped their price target on Essex Property Trust from $301.50 to $305.50 and gave the stock a “hold” rating in a research note on Wednesday, July 30th. Finally, Raymond James Financial raised Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $315.00 price objective for the company in a research report on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $301.42.

Essex Property Trust Price Performance

ESS stock opened at $268.01 on Wednesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.09. Essex Property Trust has a 1 year low of $243.85 and a 1 year high of $317.73. The firm has a 50-day moving average of $274.91 and a 200 day moving average of $282.80. The company has a market cap of $17.26 billion, a P/E ratio of 21.54, a PEG ratio of 6.81 and a beta of 0.80.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share for the quarter, beating the consensus estimate of $3.99 by $0.04. The business had revenue of $465.84 million for the quarter, compared to analysts’ expectations of $466.47 million. Essex Property Trust had a return on equity of 13.98% and a net margin of 43.51%.During the same period in the previous year, the firm posted $3.94 EPS. Essex Property Trust has set its Q3 2025 guidance at 3.890-3.990 EPS. FY 2025 guidance at 15.800-16.020 EPS. On average, sell-side analysts forecast that Essex Property Trust will post 15.96 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. State of Wyoming bought a new position in shares of Essex Property Trust in the 2nd quarter worth approximately $408,000. Westwood Holdings Group Inc. increased its holdings in Essex Property Trust by 51.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 52,601 shares of the real estate investment trust’s stock worth $14,907,000 after acquiring an additional 17,952 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in Essex Property Trust during the 2nd quarter worth approximately $48,000. FORA Capital LLC purchased a new position in Essex Property Trust during the second quarter valued at approximately $705,000. Finally, Evergreen Capital Management LLC lifted its holdings in Essex Property Trust by 10.1% during the second quarter. Evergreen Capital Management LLC now owns 795 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 73 shares in the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

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.