Essex Property Trust (NYSE:ESS) Price Target Cut to $267.00 by Analysts at UBS Group

Essex Property Trust (NYSE:ESS) had its target price reduced by stock analysts at UBS Group from $295.00 to $267.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s target price suggests a potential upside of 2.24% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley cut their target price on Essex Property Trust from $304.00 to $285.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 13th. Scotiabank cut their price objective on Essex Property Trust from $294.00 to $284.00 and set a “sector outperform” rating for the company in a research report on Tuesday, November 4th. BNP Paribas cut shares of Essex Property Trust from an “outperform” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Essex Property Trust in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised Essex Property Trust from a “sell” rating to a “hold” rating in a research report on Saturday. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $292.53.

Essex Property Trust Trading Up 0.3%

Shares of NYSE ESS traded up $0.74 during trading on Monday, hitting $261.16. 173,270 shares of the company were exchanged, compared to its average volume of 480,722. The company has a fifty day moving average price of $262.33 and a 200-day moving average price of $272.37. 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 firm has a market capitalization of $16.82 billion, a PE ratio of 19.82, a P/E/G ratio of 6.00 and a beta of 0.82. Essex Property Trust has a 12-month low of $243.25 and a 12-month high of $316.29.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $3.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.01. Essex Property Trust had a net margin of 45.46% and a return on equity of 14.70%. The firm had revenue of $473.30 million during the quarter, compared to analysts’ expectations of $472.11 million. During the same period last year, the business earned $3.91 earnings per share. Essex Property Trust has set its Q4 2025 guidance at 3.930-4.030 EPS. FY 2025 guidance at 15.890-15.990 EPS. As a group, equities research analysts expect that Essex Property Trust will post 15.96 EPS for the current year.

Hedge Funds Weigh In On Essex Property Trust

Large investors have recently bought and sold shares of the business. Valeo Financial Advisors LLC raised its holdings in Essex Property Trust by 151,452.8% during the second quarter. Valeo Financial Advisors LLC now owns 2,978,012 shares of the real estate investment trust’s stock worth $843,969,000 after purchasing an additional 2,976,047 shares in the last quarter. Wealthquest Corp acquired a new stake in Essex Property Trust during the 1st quarter worth $384,606,000. Price T Rowe Associates Inc. MD lifted its position in Essex Property Trust by 66.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,746,242 shares of the real estate investment trust’s stock valued at $841,916,000 after acquiring an additional 1,096,619 shares during the last quarter. Norges Bank purchased a new stake in Essex Property Trust in the second quarter valued at $239,442,000. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Essex Property Trust by 48.3% during the second quarter. Daiwa Securities Group Inc. now owns 1,056,887 shares of the real estate investment trust’s stock worth $299,522,000 after purchasing an additional 344,287 shares during the last quarter. Hedge funds and other 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.