ESS has been the topic of several other research reports. Stifel Nicolaus reduced their price target on shares of Essex Property Trust from $390.00 to $352.00 in a research report on Thursday, June 9th. Truist Financial reduced their target price on Essex Property Trust from $370.00 to $323.00 and set a buy rating on the stock in a report on Wednesday, May 25th. BMO Capital Markets lowered Essex Property Trust from an outperform rating to a market perform rating and decreased their target price for the stock from $378.00 to $320.00 in a research report on Tuesday, May 31st. The Goldman Sachs Group upgraded Essex Property Trust from a sell rating to a buy rating and dropped their price target for the company from $352.00 to $338.00 in a research report on Tuesday, May 17th. Finally, Scotiabank decreased their price objective on Essex Property Trust from $340.00 to $333.00 in a report on Thursday, May 19th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Essex Property Trust has an average rating of Hold and a consensus price target of $343.50.
NYSE ESS opened at $255.93 on Monday. The stock has a market cap of $16.72 billion, a P/E ratio of 42.37, a price-to-earnings-growth ratio of 2.87 and a beta of 0.75. Essex Property Trust has a fifty-two week low of $250.62 and a fifty-two week high of $363.36. The stock has a 50 day simple moving average of $298.63 and a two-hundred day simple moving average of $324.39. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.41 and a current ratio of 1.41.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be issued a $2.20 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $8.80 dividend on an annualized basis and a yield of 3.44%. Essex Property Trust’s payout ratio is currently 145.70%.
In related news, CEO Michael J. Schall sold 12,132 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $349.19, for a total value of $4,236,373.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Angela L. Kleiman sold 6,309 shares of the business’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $354.21, for a total transaction of $2,234,710.89. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. First Affirmative Financial Network boosted its holdings in Essex Property Trust by 4.3% during the 4th quarter. First Affirmative Financial Network now owns 858 shares of the real estate investment trust’s stock valued at $302,000 after acquiring an additional 35 shares during the period. Legacy Wealth Asset Management LLC increased its stake in Essex Property Trust by 6.0% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 675 shares of the real estate investment trust’s stock worth $233,000 after buying an additional 38 shares during the period. Silvercrest Asset Management Group LLC lifted its holdings in Essex Property Trust by 0.8% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 5,037 shares of the real estate investment trust’s stock valued at $1,774,000 after buying an additional 40 shares in the last quarter. HighTower Trust Services LTA lifted its holdings in Essex Property Trust by 5.7% during the 1st quarter. HighTower Trust Services LTA now owns 741 shares of the real estate investment trust’s stock valued at $256,000 after buying an additional 40 shares in the last quarter. Finally, Veritable L.P. boosted its position in Essex Property Trust by 4.2% in the 1st quarter. Veritable L.P. now owns 999 shares of the real estate investment trust’s stock valued at $345,000 after buying an additional 40 shares during the period. 96.09% of the stock is currently owned by institutional investors.
About Essex Property Trust (Get Rating)
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 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.
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