Essex Property Trust, Inc. (NYSE:ESS – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $303.04.
A number of analysts have weighed in on ESS shares. UBS Group reiterated a “neutral” rating and issued a $286.00 price target (up from $278.00) on shares of Essex Property Trust in a research report on Tuesday, September 15th. Jefferies Financial Group upgraded shares of Essex Property Trust to a “strong-buy” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company upped their target price on shares of Essex Property Trust from $280.00 to $297.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Royal Bank Of Canada upped their target price on shares of Essex Property Trust from $306.00 to $312.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Sanford C. Bernstein initiated coverage on shares of Essex Property Trust in a research note on Friday, June 26th. They issued an “outperform” rating and a $320.00 target price for the company.
View Our Latest Analysis on Essex Property Trust
Essex Property Trust Price Performance
Essex Property Trust (NYSE:ESS – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $2.62. The business had revenue of $489.05 million for the quarter, compared to analysts’ expectations of $485.12 million. Essex Property Trust had a return on equity of 7.33% and a net margin of 21.48%.During the same period in the previous year, the business posted $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. Analysts expect that Essex Property Trust will post 16.12 EPS for the current year.
Essex Property Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $2.59 per share. This represents a $10.36 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Essex Property Trust’s dividend payout ratio (DPR) is currently 161.12%.
Institutional Trading of Essex Property Trust
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Essex Property Trust by 16.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,863 shares of the real estate investment trust’s stock valued at $502,000 after buying an additional 257 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Essex Property Trust by 79.9% during the third quarter. Farther Finance Advisors LLC now owns 637 shares of the real estate investment trust’s stock valued at $172,000 after acquiring an additional 283 shares during the period. Elevation Wealth Partners LLC lifted its stake in shares of Essex Property Trust by 92.6% during the third quarter. Elevation Wealth Partners LLC now owns 312 shares of the real estate investment trust’s stock valued at $84,000 after acquiring an additional 150 shares during the period. Versant Capital Management Inc boosted its holdings in Essex Property Trust by 4.9% in the third quarter. Versant Capital Management Inc now owns 2,648 shares of the real estate investment trust’s stock valued at $713,000 after acquiring an additional 123 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in Essex Property Trust in the second quarter valued at about $220,000. Institutional investors and hedge funds own 96.51% of the company’s stock.
About Essex Property Trust
Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust that owns, operates, develops, redevelops and acquires multifamily communities. The company’s portfolio consists primarily of apartment homes, with related services and amenities designed for residential renters.
Founded in 1971, Essex focuses on markets along the West Coast of the United States. Its properties are concentrated in Southern California, Northern California and the Seattle metropolitan area, where the company seeks to benefit from employment growth, population trends and demand for rental housing.
Essex Property Trust is headquartered in San Mateo, California, and its common stock trades on the New York Stock Exchange under the symbol ESS.
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