Essex Property Trust (NYSE:ESS)‘s stock had its “market perform” rating reaffirmed by stock analysts at Wells Fargo & Co in a research report issued to clients and investors on Tuesday, The Fly reports. They presently have a $251.00 target price on the real estate investment trust’s stock, down from their prior target price of $263.00. Wells Fargo & Co’s price target suggests a potential upside of 9.29% from the company’s current price.
Several other research firms have also recently weighed in on ESS. Cantor Fitzgerald restated a “buy” rating and set a $279.00 price target on shares of Essex Property Trust in a report on Wednesday, November 8th. Royal Bank of Canada restated a “buy” rating on shares of Essex Property Trust in a report on Sunday, November 12th. SunTrust Banks restated a “hold” rating and set a $270.00 price target on shares of Essex Property Trust in a report on Friday, November 3rd. Mizuho cut Essex Property Trust from a “neutral” rating to an “underperform” rating and set a $250.00 price target for the company. in a report on Monday, November 6th. Finally, Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of Essex Property Trust in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $264.21.
Essex Property Trust (NYSE ESS) opened at $229.67 on Tuesday. The firm has a market capitalization of $15,170.62, a P/E ratio of 34.90, a price-to-earnings-growth ratio of 3.12 and a beta of 0.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 0.83. Essex Property Trust has a 1-year low of $214.03 and a 1-year high of $270.04.
Essex Property Trust (NYSE:ESS) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.01. The business had revenue of $345.06 million during the quarter, compared to analysts’ expectations of $346.50 million. Essex Property Trust had a return on equity of 6.76% and a net margin of 31.75%. During the same quarter last year, the business posted $2.85 EPS. equities research analysts expect that Essex Property Trust will post 12.46 earnings per share for the current fiscal year.
In related news, CFO Angela L. Kleiman sold 600 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $247.16, for a total transaction of $148,296.00. Following the completion of the transaction, the chief financial officer now owns 7,777 shares in the company, valued at approximately $1,922,163.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gary P. Martin sold 500 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $223.43, for a total value of $111,715.00. Following the transaction, the director now owns 5,736 shares of the company’s stock, valued at approximately $1,281,594.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,602 shares of company stock valued at $2,115,430. Company insiders own 3.30% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC purchased a new position in Essex Property Trust during the 4th quarter valued at $100,000. Breton Hill Capital Ltd. purchased a new position in Essex Property Trust during the 3rd quarter valued at $200,000. Beacon Investment Advisory Services Inc. purchased a new position in Essex Property Trust during the 3rd quarter valued at $200,000. Shelton Capital Management purchased a new position in Essex Property Trust during the 4th quarter valued at $208,000. Finally, Checchi Capital Advisers LLC purchased a new position in Essex Property Trust during the 4th quarter valued at $217,000. Institutional investors own 96.57% of the company’s stock.
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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.
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