Essex Property Trust (NYSE:ESS) Rating Increased to Hold at Wall Street Zen

Essex Property Trust (NYSE:ESS) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

ESS has been the topic of a number of other reports. UBS Group lowered their price target on Essex Property Trust from $297.00 to $295.00 and set a “neutral” rating on the stock in a report on Tuesday, July 15th. Truist Financial lowered their target price on shares of Essex Property Trust from $295.00 to $283.00 and set a “hold” rating on the stock in a report on Tuesday, August 12th. Raymond James Financial upgraded shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $315.00 target price for the company in a research report on Tuesday, June 24th. Wells Fargo & Company reduced their price target on shares of Essex Property Trust from $325.00 to $279.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 27th. Finally, Cantor Fitzgerald started coverage on shares of Essex Property Trust in a report on Wednesday. They set an “overweight” rating and a $300.00 price objective for the company. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Essex Property Trust currently has a consensus rating of “Hold” and an average target price of $297.28.

Essex Property Trust Trading Up 0.3%

Shares of Essex Property Trust stock opened at $264.63 on Friday. Essex Property Trust has a fifty-two week low of $243.85 and a fifty-two week high of $316.29. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $17.04 billion, a P/E ratio of 21.27, a P/E/G ratio of 6.74 and a beta of 0.81. The company has a fifty day moving average of $264.40 and a 200 day moving average of $276.67.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $4.03 EPS for the quarter, beating the consensus estimate of $3.99 by $0.04. The business had revenue of $465.84 million for the quarter, compared to the consensus estimate of $466.47 million. Essex Property Trust had a return on equity of 13.98% and a net margin of 43.51%.During the same period in the previous year, the business earned $3.94 earnings per share. Essex Property Trust has set its Q3 2025 guidance at 3.890-3.990 EPS. FY 2025 guidance at 15.800-16.020 EPS. On average, sell-side analysts anticipate that Essex Property Trust will post 15.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ESS. Huntington National Bank grew its holdings in 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 purchasing an additional 40 shares during the last quarter. Turning Point Benefit Group Inc. boosted its position in shares of Essex Property Trust by 2.3% during the second quarter. Turning Point Benefit Group Inc. now owns 1,861 shares of the real estate investment trust’s stock valued at $527,000 after buying an additional 42 shares during the period. Stephens Inc. AR grew its stake in shares of Essex Property Trust by 4.6% during the first quarter. Stephens Inc. AR now owns 985 shares of the real estate investment trust’s stock valued at $302,000 after buying an additional 43 shares during the last quarter. Horizon Investments LLC raised its holdings in shares of Essex Property Trust by 5.0% in the first quarter. Horizon Investments LLC now owns 929 shares of the real estate investment trust’s stock worth $285,000 after buying an additional 44 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Essex Property Trust by 6.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 778 shares of the real estate investment trust’s stock worth $239,000 after acquiring 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.