Essex Property Trust, Inc. (NYSE:ESS – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $294.15 and last traded at $295.3830, with a volume of 273980 shares. The stock had previously closed at $285.57.
Wall Street Analysts Forecast Growth
Several research analysts have commented on ESS shares. Wall Street Zen cut shares of Essex Property Trust from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Royal Bank Of Canada lifted their price objective on shares of Essex Property Trust from $282.00 to $288.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Cantor Fitzgerald boosted their target price on shares of Essex Property Trust from $290.00 to $291.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Morgan Stanley increased their target price on Essex Property Trust from $293.00 to $302.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Raymond James Financial upgraded Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $320.00 price target on the stock in a research note on Friday. Nine research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Essex Property Trust presently has a consensus rating of “Hold” and a consensus price target of $292.08.
Check Out Our Latest Stock Analysis on Essex Property Trust
Essex Property Trust Price Performance
Essex Property Trust (NYSE:ESS – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($2.31). Essex Property Trust had a return on equity of 10.00% and a net margin of 30.03%.The company had revenue of $484.76 million for the quarter, compared to analysts’ expectations of $479.89 million. During the same quarter in the prior year, the firm posted $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. As a group, sell-side analysts predict that Essex Property Trust, Inc. will post 16.08 earnings per share for the current year.
Essex Property Trust Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $2.59 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $10.36 dividend on an annualized basis and a yield of 3.5%. Essex Property Trust’s payout ratio is 116.40%.
Insider Activity
In other Essex Property Trust news, Director Mary Kasaris sold 600 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $279.45, for a total transaction of $167,670.00. Following the transaction, the director owned 2,394 shares of the company’s stock, valued at approximately $669,003.30. This trade represents 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 this hyperlink. Insiders own 3.47% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. DV Trading LLC lifted its stake in Essex Property Trust by 1,150.0% in the first quarter. DV Trading LLC now owns 1,000 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 920 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Essex Property Trust by 3.8% in the 1st quarter. Parallel Advisors LLC now owns 2,759 shares of the real estate investment trust’s stock valued at $668,000 after acquiring an additional 102 shares during the period. Cozad Asset Management Inc. increased its holdings in shares of Essex Property Trust by 6.8% in the 1st quarter. Cozad Asset Management Inc. now owns 7,416 shares of the real estate investment trust’s stock valued at $1,795,000 after acquiring an additional 472 shares during the period. Summitry LLC raised its position in Essex Property Trust by 5.4% in the 1st quarter. Summitry LLC now owns 1,869 shares of the real estate investment trust’s stock valued at $452,000 after purchasing an additional 96 shares during the last quarter. Finally, Groupe la Francaise purchased a new stake in Essex Property Trust in the 1st quarter valued at $561,000. Hedge funds and other institutional investors 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.
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