Barclays Increases Essex Property Trust (NYSE:ESS) Price Target to $328.00

Essex Property Trust (NYSE:ESS) had its price objective lifted by investment analysts at Barclays from $310.00 to $328.00 in a note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target points to a potential upside of 8.04% from the company’s current price.

Several other research analysts have also issued reports on ESS. BMO Capital Markets reiterated a “hold” rating and issued a $54.00 target price on shares of Apartment Investment and Management in a research report on Monday, March 25th. BTIG Research upped their target price on shares of Talend to $62.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. They noted that the move was a valuation call. Morgan Stanley upped their target price on shares of General Mills from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 27th. Robert W. Baird lowered shares of Essex Property Trust from an “outperform” rating to a “neutral” rating and upped their price target for the company from $297.00 to $302.00 in a research report on Tuesday, June 18th. Finally, Zacks Investment Research lowered shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Essex Property Trust currently has a consensus rating of “Hold” and an average price target of $287.57.

Shares of NYSE:ESS opened at $303.60 on Tuesday. Essex Property Trust has a 52-week low of $227.05 and a 52-week high of $308.73. The stock has a fifty day moving average of $297.64. The stock has a market capitalization of $19.99 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 4.09 and a beta of 0.36. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.08 and a quick ratio of 1.08.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Wednesday, April 24th. The real estate investment trust reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.04. Essex Property Trust had a net margin of 29.67% and a return on equity of 6.50%. The company had revenue of $356.22 million during the quarter, compared to analyst estimates of $353.55 million. During the same period in the previous year, the business earned $3.09 earnings per share. Equities analysts predict that Essex Property Trust will post 13.13 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Comerica Securities Inc. bought a new stake in Essex Property Trust in the fourth quarter valued at about $207,000. LPL Financial LLC increased its holdings in Essex Property Trust by 12.5% in the fourth quarter. LPL Financial LLC now owns 1,309 shares of the real estate investment trust’s stock valued at $321,000 after purchasing an additional 145 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Essex Property Trust by 9.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 2,177 shares of the real estate investment trust’s stock valued at $534,000 after purchasing an additional 197 shares during the last quarter. Stifel Financial Corp increased its holdings in Essex Property Trust by 12.7% in the fourth quarter. Stifel Financial Corp now owns 12,856 shares of the real estate investment trust’s stock valued at $3,118,000 after purchasing an additional 1,444 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Essex Property Trust by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 1,082,222 shares of the real estate investment trust’s stock valued at $265,001,000 after purchasing an additional 90,392 shares during the last quarter. Institutional investors own 97.67% of the company’s stock.

About Essex Property Trust

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 245 apartment communities with an additional 6 properties in various stages of active development.

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