Essex Property Trust, Inc. (NYSE:ESS) Receives $291.53 Average Price Target from Brokerages

Essex Property Trust, Inc. (NYSE:ESS) has been given a consensus rating of “Hold” by the twenty research firms that are currently covering the firm, MarketBeat.com reports. Thirteen research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $289.5938.

A number of equities research analysts recently weighed in on ESS shares. UBS Group reduced their price target on shares of Essex Property Trust from $295.00 to $267.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Barclays reduced their target price on Essex Property Trust from $297.00 to $290.00 and set an “equal weight” rating for the company in a report on Tuesday, November 25th. BNP Paribas Exane cut Essex Property Trust from an “outperform” rating to a “neutral” rating in a report on Monday, September 29th. Jefferies Financial Group reiterated a “hold” rating and issued a $282.00 target price (down from $304.00) on shares of Essex Property Trust in a research note on Monday. Finally, Truist Financial decreased their price target on shares of Essex Property Trust from $283.00 to $273.00 and set a “hold” rating on the stock in a report on Tuesday.

Essex Property Trust Stock Up 2.2%

Shares of NYSE ESS traded up $5.68 during mid-day trading on Wednesday, hitting $261.12. The company had a trading volume of 25,247 shares, compared to its average volume of 477,126. Essex Property Trust has a 1-year low of $243.25 and a 1-year high of $316.29. The company has a market capitalization of $16.82 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 6.29 and a beta of 0.72. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.18 and a quick ratio of 1.18. The business’s 50-day simple moving average is $257.91 and its 200 day simple moving average is $267.92.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $3.97 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.01. The firm had revenue of $473.30 million for the quarter, compared to analysts’ expectations of $472.11 million. Essex Property Trust had a net margin of 45.46% and a return on equity of 14.68%. During the same quarter last year, the company earned $3.91 earnings per share. Essex Property Trust has set its Q4 2025 guidance at 3.930-4.030 EPS and its FY 2025 guidance at 15.890-15.990 EPS. On average, analysts predict that Essex Property Trust will post 15.96 earnings per share for the current year.

Essex Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be issued a $2.57 dividend. This represents a $10.28 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, January 2nd. Essex Property Trust’s dividend payout ratio is currently 78.12%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Valeo Financial Advisors LLC lifted its stake in shares of Essex Property Trust by 151,452.8% in the second quarter. Valeo Financial Advisors LLC now owns 2,978,012 shares of the real estate investment trust’s stock worth $843,969,000 after acquiring an additional 2,976,047 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Essex Property Trust by 66.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,746,242 shares of the real estate investment trust’s stock worth $841,916,000 after purchasing an additional 1,096,619 shares during the last quarter. Norges Bank acquired a new position in shares of Essex Property Trust in the 2nd quarter valued at approximately $239,442,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Essex Property Trust by 973.0% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 743,954 shares of the real estate investment trust’s stock valued at $199,127,000 after buying an additional 674,617 shares during the last quarter. Finally, Centersquare Investment Management LLC grew its position in shares of Essex Property Trust by 473.5% during the third quarter. Centersquare Investment Management LLC now owns 516,756 shares of the real estate investment trust’s stock worth $138,315,000 after buying an additional 426,650 shares in the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Essex Property Trust Company Profile

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.