Essex Property Trust (NYSE:ESS – Get Free Report) was upgraded by investment analysts at UBS Group to a “hold” rating in a report released on Tuesday, Zacks reports.
Other analysts also recently issued research reports about the company. Weiss Ratings downgraded Essex Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 10th. Stifel Nicolaus set a $292.75 price target on Essex Property Trust in a research report on Thursday, July 30th. Evercore reissued an “outperform” rating and issued a $303.00 price target on shares of Essex Property Trust in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft set a $325.00 price objective on Essex Property Trust in a research report on Tuesday, August 18th. Finally, Cantor Fitzgerald lifted their target price on shares of Essex Property Trust from $291.00 to $316.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $303.94.
View Our Latest Stock Report on Essex Property Trust
Essex Property Trust Trading Down 1.7%
Essex Property Trust (NYSE:ESS – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.08 EPS for the quarter, beating the consensus estimate of $1.46 by $2.62. The company had revenue of $489.05 million for the quarter, compared to analyst estimates of $485.12 million. Essex Property Trust had a net margin of 21.48% and a return on equity of 7.33%. During the same period in the prior year, the company earned $4.03 earnings per share. Essex Property Trust has set its Q3 2026 guidance at 3.930-4.050 EPS and its FY 2026 guidance at 16.030-16.250 EPS. Equities research analysts predict that Essex Property Trust will post 16.18 earnings per share for the current year.
Hedge Funds Weigh In On Essex Property Trust
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESS. Sequoia Financial Advisors LLC purchased a new position in Essex Property Trust in the 2nd quarter valued at about $220,000. National Pension Service increased its stake in Essex Property Trust by 22.5% during the 2nd quarter. National Pension Service now owns 5,033 shares of the real estate investment trust’s stock worth $1,468,000 after buying an additional 923 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Essex Property Trust during the 2nd quarter worth approximately $272,000. NewEdge Advisors LLC acquired a new position in shares of Essex Property Trust during the second quarter valued at approximately $299,000. Finally, Squarepoint Ops LLC raised its holdings in shares of Essex Property Trust by 75.8% during the second quarter. Squarepoint Ops LLC now owns 5,472 shares of the real estate investment trust’s stock valued at $1,596,000 after acquiring an additional 2,359 shares during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.
About Essex Property Trust
Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust that owns, operates, develops and redevelops multifamily residential communities. Its portfolio primarily consists of apartment homes, supported by property management, maintenance and resident services.
The company focuses on high-demand coastal markets on the West Coast, particularly Northern and Southern California and the Seattle metropolitan area in Washington. Essex’s properties are generally located near employment centers, transportation networks and other amenities, serving renters in major urban and suburban communities.
Founded in 1971, Essex Property Trust became a publicly traded real estate investment trust in 1994.
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