Essex Property Trust (NYSE:ESS) Price Target Raised to $307.00

Essex Property Trust (NYSE:ESS) had its target price lifted by Scotiabank from $290.00 to $307.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s target price would suggest a potential upside of 4.99% from the company’s current price.

ESS has been the subject of a number of other reports. Barclays raised their target price on shares of Essex Property Trust from $272.00 to $277.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Raymond James Financial upgraded shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $320.00 price objective for the company in a research report on Friday, June 26th. Wells Fargo & Company lifted their price objective on shares of Essex Property Trust from $262.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Evercore restated an “outperform” rating and issued a $296.00 target price on shares of Essex Property Trust in a report on Monday, June 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Essex Property Trust from $272.00 to $275.00 and gave the company an “underweight” rating in a research report on Monday, May 18th. Nine investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $293.03.

Essex Property Trust Price Performance

Shares of ESS traded up $0.83 during midday trading on Thursday, hitting $292.41. 59,148 shares of the company traded hands, compared to its average volume of 512,225. The firm has a 50 day moving average of $278.89 and a 200-day moving average of $262.16. Essex Property Trust has a 52 week low of $238.46 and a 52 week high of $303.35. The stock has a market cap of $18.79 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 12.86 and a beta of 0.70. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.98 and a current ratio of 0.98.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($2.31). The firm had revenue of $484.76 million during the quarter, compared to the consensus estimate of $479.89 million. Essex Property Trust had a return on equity of 10.00% and a net margin of 30.03%.During the same period last year, the firm posted $3.97 earnings per share. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. On average, analysts forecast that Essex Property Trust will post 16.11 EPS for the current fiscal year.

Insider Activity

In other Essex Property Trust news, Director Mary Kasaris sold 600 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $279.45, for a total value of $167,670.00. Following the completion of the transaction, the director directly owned 2,394 shares in the company, valued at approximately $669,003.30. The trade was a 20.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.47% of the company’s stock.

Hedge Funds Weigh In On Essex Property Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Valeo Financial Advisors LLC boosted its stake in shares of Essex Property Trust by 4.3% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,077 shares of the real estate investment trust’s stock worth $606,000 after acquiring an additional 86 shares in the last quarter. Elevation Wealth Partners LLC boosted its position in Essex Property Trust by 523.1% during the second quarter. Elevation Wealth Partners LLC now owns 162 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 136 shares in the last quarter. Czech National Bank boosted its position in Essex Property Trust by 4.2% during the second quarter. Czech National Bank now owns 18,292 shares of the real estate investment trust’s stock worth $5,334,000 after purchasing an additional 742 shares in the last quarter. 55 North Private Wealth LLC acquired a new stake in Essex Property Trust in the second quarter valued at approximately $240,000. Finally, GAMMA Investing LLC grew its holdings in Essex Property Trust by 16.5% in the second quarter. GAMMA Investing LLC now owns 1,606 shares of the real estate investment trust’s stock valued at $468,000 after purchasing an additional 227 shares during the period. Institutional investors and hedge funds own 96.51% of the company’s stock.

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.