Wells Fargo & Company Issues Pessimistic Forecast for Essex Property Trust (NYSE:ESS) Stock Price

Essex Property Trust (NYSE:ESS) had its target price dropped by investment analysts at Wells Fargo & Company from $280.00 to $268.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 2.41% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus lifted their price target on shares of Essex Property Trust from $301.50 to $305.50 and gave the company a “hold” rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded shares of Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Saturday. BNP Paribas Exane lowered shares of Essex Property Trust from an “outperform” rating to a “neutral” rating in a research report on Monday, September 29th. Evercore ISI lowered their price target on Essex Property Trust from $279.00 to $271.00 and set a “cautious” rating on the stock in a research report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Essex Property Trust in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $292.53.

Essex Property Trust Price Performance

ESS opened at $261.69 on Monday. The stock has a fifty day moving average price of $262.15 and a 200 day moving average price of $272.16. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.16. Essex Property Trust has a 1 year low of $243.25 and a 1 year high of $316.29. The stock has a market cap of $16.85 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 6.00 and a beta of 0.82.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $3.97 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.01. Essex Property Trust had a return on equity of 14.70% and a net margin of 45.46%.The firm had revenue of $473.30 million for the quarter, compared to the consensus estimate of $472.11 million. During the same quarter in the prior year, the company posted $3.91 earnings per share. Essex Property Trust has set its Q4 2025 guidance at 3.930-4.030 EPS. FY 2025 guidance at 15.890-15.990 EPS. Analysts forecast that Essex Property Trust will post 15.96 EPS for the current fiscal year.

Institutional Trading of Essex Property Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legacy Wealth Asset Management LLC boosted its holdings in Essex Property Trust by 3.8% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,054 shares of the real estate investment trust’s stock valued at $282,000 after purchasing an additional 39 shares in the last quarter. Huntington National Bank lifted its position in shares of Essex Property Trust by 16.1% during the 2nd quarter. Huntington National Bank now owns 288 shares of the real estate investment trust’s stock worth $82,000 after buying an additional 40 shares during the period. Turning Point Benefit Group Inc. boosted its stake in Essex Property Trust by 2.3% in the 2nd quarter. Turning Point Benefit Group Inc. now owns 1,861 shares of the real estate investment trust’s stock valued at $527,000 after buying an additional 42 shares in the last quarter. Hantz Financial Services Inc. grew its position in Essex Property Trust by 57.5% in the third quarter. Hantz Financial Services Inc. now owns 115 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 42 shares during the period. Finally, Stephens Inc. AR grew its position in Essex Property Trust by 4.6% in the first quarter. Stephens Inc. AR now owns 985 shares of the real estate investment trust’s stock valued at $302,000 after acquiring an additional 43 shares during the period. 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.