Essex Property Trust (NYSE:ESS) Price Target Cut to $297.00 by Analysts at Royal Bank Of Canada

Essex Property Trust (NYSE:ESS) had its target price dropped by investment analysts at Royal Bank Of Canada from $298.00 to $297.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank Of Canada‘s target price suggests a potential upside of 11.77% from the company’s current price.

ESS has been the subject of a number of other research reports. Wall Street Zen lowered shares of Essex Property Trust from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Jefferies Financial Group raised shares of Essex Property Trust to a “strong-buy” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company lowered their price objective on shares of Essex Property Trust from $297.00 to $279.00 and set an “equal weight” rating on the stock in a research note on Monday, October 19th. Piper Sandler restated an “overweight” rating and issued a $320.00 target price (down from $326.00) on shares of Essex Property Trust in a research report on Thursday. Finally, Mizuho cut Essex Property Trust from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $308.00 to $295.00 in a research report on Tuesday, September 8th. One investment 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $298.27.

Essex Property Trust Stock Performance

NYSE ESS traded up $4.31 on Thursday, hitting $265.73. The stock had a trading volume of 480,893 shares, compared to its average volume of 509,427. The company’s 50-day moving average is $275.40 and its two-hundred day moving average is $269.53. Essex Property Trust has a one year low of $238.46 and a one year high of $303.35. The stock has a market cap of $17.08 billion, a price-to-earnings ratio of 41.37, a P/E/G ratio of 8.27 and a beta of 0.70. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.22.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Tuesday, October 27th. The real estate investment trust reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.01 by ($2.49). Essex Property Trust had a return on equity of 7.33% and a net margin of 21.48%. The business had revenue of $492.69 million for the quarter, compared to analyst estimates of $491.01 million. During the same quarter in the prior year, the firm posted $3.97 earnings per share. On average, analysts expect that Essex Property Trust will post 16.11 earnings per share for the current year.

Institutional Investors Weigh In On Essex Property Trust

Several hedge funds have recently modified their holdings of ESS. Sumitomo Mitsui Trust Group Inc. raised its holdings in Essex Property Trust by 10.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 238,747 shares of the real estate investment trust’s stock worth $64,316,000 after buying an additional 22,783 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Essex Property Trust in the third quarter worth approximately $6,400,000. Profund Advisors LLC increased its position in shares of Essex Property Trust by 42.4% in the third quarter. Profund Advisors LLC now owns 1,196 shares of the real estate investment trust’s stock worth $322,000 after acquiring an additional 356 shares in the last quarter. Vise Technologies Inc. acquired a new stake in shares of Essex Property Trust during the third quarter valued at approximately $381,000. Finally, Moss Adams Wealth Advisors LLC acquired a new stake in shares of Essex Property Trust during the third quarter valued at approximately $261,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Essex Property Trust News Roundup

Here are the key news stories impacting Essex Property Trust this week:

• Positive Sentiment: Essex raised its 2026 core FFO-per-share guidance, signaling improved confidence in operating performance despite near-term cost pressures. Management highlighted solid demand and growth in its Northern California markets. Essex raises 2026 earnings guidance
• Positive Sentiment: Third-quarter FFO was approximately $4.00 per share, narrowly below the $4.01 consensus but up from $3.97 a year earlier. Revenue of $492.7 million exceeded the roughly $491.0 million estimate, providing some support for the stock. ESS Q3 FFO and revenues
• Positive Sentiment: RBC maintained an “Outperform” rating, indicating a favorable long-term view of Essex’s apartment portfolio and operating outlook, although it made a minor adjustment to its valuation target. RBC price target and rating

About Essex Property Trust

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust that owns, develops, redevelops, and manages multifamily apartment communities. The company focuses on providing rental housing in high-demand markets and generates revenue primarily from apartment rents and related resident services.

Founded in 1971 and headquartered in San Mateo, California, Essex operates primarily in Southern California, the San Francisco Bay Area, and the Seattle metropolitan area.