Shares of Essex Property Trust, Inc. (NYSE:ESS) have been given an average recommendation of “Hold” by the twenty research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $269.08.
A number of equities research analysts have weighed in on the stock. BidaskClub raised shares of Essex Property Trust from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Stifel Nicolaus assumed coverage on shares of Essex Property Trust in a report on Friday, September 1st. They issued a “buy” rating and a $294.00 price target for the company. Mizuho downgraded shares of Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 price target for the company. in a report on Monday, July 31st. Canaccord Genuity set a $270.00 price target on shares of Essex Property Trust and gave the company a “hold” rating in a report on Monday, July 31st. Finally, Robert W. Baird reissued a “buy” rating and issued a $273.00 price target on shares of Essex Property Trust in a report on Tuesday, September 12th.
In other news, insider Craig K. Zimmerman sold 167 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $267.02, for a total value of $44,592.34. Following the completion of the sale, the insider now directly owns 10,450 shares of the company’s stock, valued at $2,790,359. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Byron A. Scordelis sold 6,265 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $267.39, for a total transaction of $1,675,198.35. Following the completion of the sale, the director now directly owns 4,986 shares of the company’s stock, valued at $1,333,206.54. The disclosure for this sale can be found here. Insiders have sold 11,397 shares of company stock valued at $3,022,662 over the last ninety days. Insiders own 3.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its position in shares of Essex Property Trust by 145.3% in the second quarter. Tower Research Capital LLC TRC now owns 471 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 279 shares in the last quarter. Sun Life Financial INC lifted its position in shares of Essex Property Trust by 5,900.0% in the second quarter. Sun Life Financial INC now owns 480 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 472 shares in the last quarter. FNY Partners Fund LP purchased a new stake in shares of Essex Property Trust in the first quarter worth approximately $165,000. Perigon Wealth Management LLC lifted its position in shares of Essex Property Trust by 835.2% in the first quarter. Perigon Wealth Management LLC now owns 823 shares of the real estate investment trust’s stock worth $192,000 after purchasing an additional 735 shares in the last quarter. Finally, Wetherby Asset Management Inc. purchased a new stake in shares of Essex Property Trust in the second quarter worth approximately $203,000. 99.45% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: This piece of content was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece of content on another publication, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/10/27/essex-property-trust-inc-ess-receives-consensus-recommendation-of-hold-from-brokerages.html.
Shares of Essex Property Trust (NYSE ESS) opened at 261.38 on Wednesday. The stock has a 50 day moving average of $259.94 and a 200 day moving average of $256.02. The stock has a market cap of $17.25 billion, a P/E ratio of 33.61 and a beta of 0.53. Essex Property Trust has a one year low of $200.01 and a one year high of $270.04.
Essex Property Trust (NYSE:ESS) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.05. Essex Property Trust had a net margin of 38.33% and a return on equity of 8.03%. The firm had revenue of $339.06 million during the quarter, compared to analyst estimates of $336.17 million. During the same quarter in the prior year, the firm posted $2.74 EPS. Equities analysts expect that Essex Property Trust will post $5.89 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Thursday, September 28th. Essex Property Trust’s dividend payout ratio is presently 89.97%.
Essex Property Trust Company Profile
Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.
Receive News & Ratings for Essex Property Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essex Property Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.