Essex Property Trust (NYSE:ESS) has been given a $264.00 price target by research analysts at Cantor Fitzgerald in a report released on Wednesday. The firm currently has a “buy” rating on the real estate investment trust’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 19.92% from the company’s current price.
A number of other equities analysts have also weighed in on ESS. BMO Capital Markets reissued a “hold” rating and issued a $250.00 target price on shares of Essex Property Trust in a research report on Tuesday, January 9th. Citigroup raised Essex Property Trust to an “overweight” rating and boosted their target price for the stock from $253.00 to $278.00 in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Mizuho lowered Essex Property Trust from a “neutral” rating to an “underperform” rating and set a $250.00 target price for the company. in a research report on Monday, November 6th. Sandler O’Neill set a $235.00 target price on Essex Property Trust and gave the stock a “hold” rating in a research report on Friday, February 9th. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Essex Property Trust in a research report on Sunday, November 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $263.42.
Essex Property Trust (NYSE ESS) opened at $220.15 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $14,891.21, a PE ratio of 33.46, a PEG ratio of 3.06 and a beta of 0.42. Essex Property Trust has a 52-week low of $214.03 and a 52-week high of $270.04.
Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.01. The firm had revenue of $345.06 million during the quarter, compared to analyst estimates 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 in the previous year, the firm earned $2.85 EPS. research analysts expect that Essex Property Trust will post 12.46 earnings per share for the current year.
In other Essex Property Trust news, EVP John D. Eudy sold 1,700 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $247.24, for a total transaction of $420,308.00. Following the completion of the sale, the executive vice president now directly owns 10,130 shares in the company, valued at approximately $2,504,541.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Schall sold 4,801 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $247.37, for a total value of $1,187,623.37. Following the sale, the chief executive officer now owns 49,564 shares of the company’s stock, valued at $12,260,646.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,602 shares of company stock valued at $2,115,430. Corporate insiders own 3.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new stake in shares of Essex Property Trust during the 4th quarter valued at about $100,000. Breton Hill Capital Ltd. bought a new stake in shares of Essex Property Trust during the 3rd quarter valued at about $200,000. Beacon Investment Advisory Services Inc. bought a new stake in shares of Essex Property Trust during the 3rd quarter valued at about $200,000. Shelton Capital Management bought a new stake in shares of Essex Property Trust during the 4th quarter valued at about $208,000. Finally, Verition Fund Management LLC bought a new stake in shares of Essex Property Trust during the 2nd quarter valued at about $225,000. Institutional investors and hedge funds 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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