Evercore ISI Issues Positive Forecast for Essex Property Trust (NYSE:ESS) Stock Price

Essex Property Trust (NYSE:ESS) had its target price boosted by Evercore ISI from $297.00 to $302.00 in a research note published on Monday morning,Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and upped their price objective for the stock from $308.00 to $310.00 in a report on Tuesday, January 21st. JPMorgan Chase & Co. downgraded shares of Essex Property Trust from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $297.00 to $303.00 in a research report on Tuesday, December 17th. Raymond James downgraded shares of Essex Property Trust from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Mizuho decreased their price target on shares of Essex Property Trust from $325.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, BMO Capital Markets raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $323.00 to $310.00 in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Essex Property Trust currently has a consensus rating of “Hold” and an average target price of $306.53.

Essex Property Trust Trading Down 0.5 %

Shares of ESS opened at $290.80 on Monday. The firm’s 50-day moving average price is $286.78 and its 200-day moving average price is $292.46. The firm has a market capitalization of $18.69 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 6.93 and a beta of 0.92. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.15. Essex Property Trust has a 1-year low of $223.06 and a 1-year high of $317.73.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $2.52. Essex Property Trust had a net margin of 41.79% and a return on equity of 13.05%. Sell-side analysts anticipate that Essex Property Trust will post 15.96 EPS for the current year.

Essex Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were paid a $2.45 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.37%. Essex Property Trust’s payout ratio is currently 84.92%.

Institutional Investors Weigh In On Essex Property Trust

Several institutional investors have recently made changes to their positions in the company. Legacy Wealth Asset Management LLC lifted its holdings in shares of Essex Property Trust by 4.7% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 775 shares of the real estate investment trust’s stock worth $229,000 after acquiring an additional 35 shares during the last quarter. CWA Asset Management Group LLC grew its position in shares of Essex Property Trust by 5.0% in the 4th quarter. CWA Asset Management Group LLC now owns 803 shares of the real estate investment trust’s stock worth $229,000 after buying an additional 38 shares during the last quarter. Empowered Funds LLC grew its position in shares of Essex Property Trust by 3.3% in the 4th quarter. Empowered Funds LLC now owns 1,195 shares of the real estate investment trust’s stock worth $338,000 after buying an additional 38 shares during the last quarter. UMB Bank n.a. grew its position in shares of Essex Property Trust by 37.5% in the 4th quarter. UMB Bank n.a. now owns 154 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 42 shares during the last quarter. Finally, Miracle Mile Advisors LLC grew its position in Essex Property Trust by 0.3% during the 4th quarter. Miracle Mile Advisors LLC now owns 14,157 shares of the real estate investment trust’s stock worth $4,041,000 after purchasing an additional 46 shares during the last quarter. 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.