Essex Property Trust (NYSE:ESS) Price Target Cut to $278.00 by Analysts at Scotiabank

Essex Property Trust (NYSE:ESS) had its price objective dropped by stock analysts at Scotiabank from $284.00 to $278.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price target would suggest a potential upside of 9.53% from the company’s previous close.

A number of other equities research analysts also recently issued reports on ESS. Mizuho boosted their target price on shares of Essex Property Trust from $275.00 to $284.00 and gave the company an “outperform” rating in a report on Monday, November 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $290.00 price objective on shares of Essex Property Trust in a research note on Monday, February 9th. Robert W. Baird lifted their target price on Essex Property Trust from $279.00 to $281.00 and gave the stock a “neutral” rating in a research report on Monday. Stifel Nicolaus set a $278.00 price target on shares of Essex Property Trust in a report on Thursday, February 5th. Finally, Truist Financial reduced their target price on Essex Property Trust from $283.00 to $273.00 and set a “hold” rating on the stock in a report on Tuesday, December 16th. Five research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, Essex Property Trust has a consensus rating of “Hold” and a consensus price target of $283.31.

Essex Property Trust Price Performance

Essex Property Trust stock traded down $1.69 during mid-day trading on Wednesday, hitting $253.81. 41,351 shares of the company were exchanged, compared to its average volume of 570,366. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $16.37 billion, a P/E ratio of 24.38, a PEG ratio of 8.05 and a beta of 0.73. Essex Property Trust has a 12-month low of $243.25 and a 12-month high of $310.10. The business’s 50 day simple moving average is $255.43 and its two-hundred day simple moving average is $259.10.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Wednesday, February 4th. The real estate investment trust reported $3.98 earnings per share for the quarter, missing the consensus estimate of $4.00 by ($0.02). The firm had revenue of $479.63 million during the quarter, compared to analyst estimates of $474.66 million. Essex Property Trust had a net margin of 35.48% and a return on equity of 11.61%. During the same period in the previous year, the firm posted $3.92 EPS. Essex Property Trust has set its FY 2026 guidance at 15.690-16.190 EPS and its Q1 2026 guidance at 3.890-4.010 EPS. Analysts forecast that Essex Property Trust will post 15.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Woodline Partners LP bought a new position in Essex Property Trust in the 1st quarter valued at about $1,664,000. Focus Partners Wealth bought a new stake in shares of Essex Property Trust during the 1st quarter worth about $223,000. Envestnet Asset Management Inc. lifted its stake in shares of Essex Property Trust by 15.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 57,991 shares of the real estate investment trust’s stock worth $16,435,000 after acquiring an additional 7,602 shares during the period. Spire Wealth Management lifted its stake in shares of Essex Property Trust by 12,050.0% in the 2nd quarter. Spire Wealth Management now owns 243 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 241 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of Essex Property Trust by 63.7% in the second quarter. Assetmark Inc. now owns 383 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 149 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 (NYSE: ESS) is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.