Barclays Cuts Essex Property Trust (NYSE:ESS) Price Target to $271.00

Essex Property Trust (NYSE:ESS) had its price objective cut by Barclays from $292.00 to $271.00 in a research note issued to investors on Friday,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 reports. Wells Fargo & Company lowered their price target on Essex Property Trust from $280.00 to $268.00 and set an “equal weight” rating on the stock in a report on Monday, November 10th. Scotiabank cut their price objective on Essex Property Trust from $284.00 to $278.00 and set a “sector outperform” rating for the company in a report on Wednesday, March 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $290.00 price objective on shares of Essex Property Trust in a research report on Monday, February 9th. BMO Capital Markets downgraded Essex Property Trust from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $305.00 to $280.00 in a report on Friday, January 9th. Finally, UBS Group raised their target price on Essex Property Trust from $267.00 to $274.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Four research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, Essex Property Trust presently has an average rating of “Hold” and a consensus target price of $282.00.

Essex Property Trust Stock Performance

Shares of NYSE ESS opened at $255.28 on Friday. The firm’s 50-day moving average price is $255.13 and its 200-day moving average price is $259.02. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.19. The company has a market cap of $16.46 billion, a PE ratio of 24.52, a PEG ratio of 8.02 and a beta of 0.73. Essex Property Trust has a 52-week low of $243.25 and a 52-week high of $310.10.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings data on Wednesday, February 4th. The real estate investment trust reported $3.98 earnings per share for the quarter, missing the consensus estimate of $4.00 by ($0.02). The company had revenue of $479.63 million for the quarter, compared to analysts’ expectations of $474.66 million. Essex Property Trust had a net margin of 35.48% and a return on equity of 11.61%. During the same period in the previous year, the firm earned $3.92 earnings per share. Essex Property Trust has set its FY 2026 guidance at 15.690-16.190 EPS and its Q1 2026 guidance at 3.890-4.010 EPS. As a group, analysts anticipate that Essex Property Trust will post 15.96 EPS for the current year.

Essex Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $2.59 per share. The ex-dividend date is Tuesday, March 31st. This represents a $10.36 annualized dividend and a dividend yield of 4.1%. This is a boost from Essex Property Trust’s previous quarterly dividend of $2.57. Essex Property Trust’s dividend payout ratio is 99.52%.

Institutional Investors Weigh In On Essex Property Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legacy Wealth Asset Management LLC grew its holdings in Essex Property Trust by 3.8% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,054 shares of the real estate investment trust’s stock valued at $282,000 after buying an additional 39 shares in the last quarter. Huntington National Bank boosted 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 valued at $82,000 after acquiring an additional 40 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in shares of Essex Property Trust by 5.2% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 814 shares of the real estate investment trust’s stock valued at $213,000 after acquiring an additional 40 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of 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 purchasing an additional 42 shares during the period. Finally, Norinchukin Bank The grew its holdings in shares of Essex Property Trust by 0.6% in the third quarter. Norinchukin Bank The now owns 6,957 shares of the real estate investment trust’s stock valued at $1,862,000 after purchasing an additional 44 shares during the period. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Essex Property Trust Company Profile

Essex Property Trust, Inc (NYSE: ESS) is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.