Essex Property Trust (NYSE:ESS) Stock Gets Price Target Reduction from Royal Bank Of Canada

Essex Property Trust (NYSE:ESS) had its target price cut by research analysts at Royal Bank Of Canada from $312.00 to $298.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 10.18% from the company’s current price.

ESS has been the subject of a number of other research reports. Wall Street Zen lowered Essex Property Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Wells Fargo & Company boosted their price target on Essex Property Trust from $280.00 to $297.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Evercore set a $299.00 price target on Essex Property Trust in a report on Monday, September 21st. UBS Group reaffirmed a “neutral” rating and set a $286.00 price target (up from $278.00) on shares of Essex Property Trust in a report on Tuesday, September 15th. Finally, Deutsche Bank Aktiengesellschaft set a $325.00 price objective on Essex Property Trust in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Essex Property Trust has an average rating of “Moderate Buy” and a consensus price target of $301.04.

Essex Property Trust Stock Up 0.0%

Shares of NYSE:ESS traded up $0.07 during trading on Tuesday, reaching $270.46. 50,484 shares of the stock traded hands, compared to its average volume of 505,388. The stock has a 50-day moving average of $278.39 and a two-hundred day moving average of $275.43. Essex Property Trust has a 52-week low of $238.46 and a 52-week high of $303.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market cap of $17.38 billion, a P/E ratio of 41.99, a price-to-earnings-growth ratio of 8.06 and a beta of 0.70.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share for the quarter, beating the consensus estimate of $1.46 by $2.62. Essex Property Trust had a net margin of 21.48% and a return on equity of 7.33%. The company had revenue of $489.05 million during the quarter, compared to the consensus estimate of $485.12 million. During the same quarter last year, the firm earned $4.03 earnings per share. Essex Property Trust has set its Q3 2026 guidance at 3.930-4.050 EPS and its FY 2026 guidance at 16.030-16.250 EPS. As a group, sell-side analysts expect that Essex Property Trust will post 16.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Essex Property Trust

Hedge funds have recently modified their holdings of the business. Cassaday & Co Wealth Management LLC purchased a new position in shares of Essex Property Trust during the 1st quarter valued at $38,000. Western Wealth Management LLC bought a new position in Essex Property Trust in the 1st quarter worth $44,000. Elevation Wealth Partners LLC boosted its holdings in Essex Property Trust by 523.1% in the 2nd quarter. Elevation Wealth Partners LLC now owns 162 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 136 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Essex Property Trust by 31.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 265 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 63 shares during the period. Finally, Trifecta Capital Advisors LLC bought a new position in Essex Property Trust in the 1st quarter worth $75,000. Institutional investors own 96.51% of the company’s stock.

About Essex Property Trust

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust that owns, operates, develops, redevelops and acquires multifamily communities. The company’s portfolio consists primarily of apartment homes, with related services and amenities designed for residential renters.

Founded in 1971, Essex focuses on markets along the West Coast of the United States. Its properties are concentrated in Southern California, Northern California and the Seattle metropolitan area, where the company seeks to benefit from employment growth, population trends and demand for rental housing.

Essex Property Trust is headquartered in San Mateo, California, and its common stock trades on the New York Stock Exchange under the symbol ESS.