Essex Property Trust (ESS) – Investment Analysts’ Recent Ratings Updates

A number of firms have modified their ratings and price targets on shares of Essex Property Trust (NYSE: ESS) recently:

• 5/1/2024 – Essex Property Trust was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 5/1/2024 – Essex Property Trust had its price target raised by analysts at Stifel Nicolaus from $239.50 to $243.50. They now have a “hold” rating on the stock.
• 4/29/2024 – Essex Property Trust had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $240.00 price target on the stock.
• 4/13/2024 – Essex Property Trust was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 4/9/2024 – Essex Property Trust had its price target lowered by analysts at Truist Financial Co. from $259.00 to $255.00. They now have a “hold” rating on the stock.
• 4/5/2024 – Essex Property Trust was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 4/1/2024 – Essex Property Trust was upgraded by analysts at Bank of America Co. from a “neutral” rating to a “buy” rating. They now have a $275.00 price target on the stock, up previously from $250.00.
• 3/28/2024 – Essex Property Trust had its price target lowered by analysts at Truist Financial Co. from $276.00 to $259.00. They now have a “hold” rating on the stock.
• 3/26/2024 – Essex Property Trust had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $291.00 price target on the stock.
• 3/18/2024 – Essex Property Trust was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating. They now have a $265.00 price target on the stock.

Essex Property Trust Price Performance

Essex Property Trust stock opened at $245.25 on Thursday. The business has a 50 day simple moving average of $239.53 and a 200-day simple moving average of $232.44. Essex Property Trust, Inc. has a 12 month low of $203.85 and a 12 month high of $252.85. The company has a debt-to-equity ratio of 1.11, a current ratio of 3.26 and a quick ratio of 3.26. The stock has a market capitalization of $15.75 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 3.64 and a beta of 0.79.

Essex Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued a dividend of $2.45 per share. This is a boost from Essex Property Trust’s previous quarterly dividend of $2.31. This represents a $9.80 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend was Wednesday, March 27th. Essex Property Trust’s dividend payout ratio is currently 119.80%.

Institutional Investors Weigh In On Essex Property Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its stake in Essex Property Trust by 111.5% in the fourth quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Essex Property Trust by 112.3% during the first quarter. Venturi Wealth Management LLC now owns 138 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 73 shares during the last quarter. Vima LLC acquired a new stake in shares of Essex Property Trust during the fourth quarter worth $40,000. Bruce G. Allen Investments LLC bought a new position in Essex Property Trust in the fourth quarter worth about $41,000. Finally, Bear Mountain Capital Inc. bought a new stake in Essex Property Trust in the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.