Essex Property Trust, Inc. (NYSE:ESS) Given Average Rating of “Hold” by Brokerages

Shares of Essex Property Trust, Inc. (NYSE:ESS) have received a consensus recommendation of “Hold” from the twenty analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $292.0833.

Several brokerages have weighed in on ESS. Royal Bank Of Canada lifted their target price on Essex Property Trust from $282.00 to $288.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Barclays increased their price target on Essex Property Trust from $272.00 to $277.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Scotiabank restated an “outperform” rating on shares of Essex Property Trust in a research note on Thursday, June 18th. Raymond James Financial raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $320.00 price objective for the company in a report on Friday, June 26th. Finally, Mizuho increased their target price on shares of Essex Property Trust from $285.00 to $308.00 and gave the company an “outperform” rating in a research report on Wednesday, June 10th.

Essex Property Trust Trading Down 0.2%

Essex Property Trust stock opened at $297.87 on Friday. Essex Property Trust has a 52-week low of $238.46 and a 52-week high of $299.29. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $19.14 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 12.86 and a beta of 0.70. The firm has a 50-day moving average price of $276.49 and a two-hundred day moving average price of $261.38.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.65 EPS for the quarter, missing the consensus estimate of $3.96 by ($2.31). The firm had revenue of $484.76 million during the quarter, compared to analyst estimates of $479.89 million. Essex Property Trust had a net margin of 30.03% and a return on equity of 10.00%. During the same quarter in the previous year, the business posted $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Sell-side analysts expect that Essex Property Trust will post 16.11 earnings per share for the current year.

Essex Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $2.59 dividend. This represents a $10.36 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, June 30th. Essex Property Trust’s dividend payout ratio is currently 116.40%.

Insider Activity

In related news, Director Mary Kasaris sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $279.45, for a total transaction of $167,670.00. Following the transaction, the director owned 2,394 shares in the company, valued at $669,003.30. This trade represents a 20.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On Essex Property Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dorsey & Whitney Trust CO LLC grew its stake in shares of Essex Property Trust by 5.2% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 814 shares of the real estate investment trust’s stock worth $213,000 after purchasing an additional 40 shares during the last quarter. Segment Wealth Management LLC boosted its holdings in Essex Property Trust by 5.1% during the fourth quarter. Segment Wealth Management LLC now owns 913 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 44 shares in the last quarter. Norinchukin Bank The boosted its holdings in Essex Property Trust by 0.6% during the third quarter. Norinchukin Bank The now owns 6,957 shares of the real estate investment trust’s stock worth $1,862,000 after buying an additional 44 shares in the last quarter. Signaturefd LLC grew its position in Essex Property Trust by 11.3% in the fourth quarter. Signaturefd LLC now owns 445 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 45 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in Essex Property Trust by 2.0% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,537 shares of the real estate investment trust’s stock worth $664,000 after buying an additional 50 shares during the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

About Essex Property Trust

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.