Essex Property Trust, Inc. (NYSE:ESS) Receives $304.14 Consensus PT from Analysts

Essex Property Trust, Inc. (NYSE:ESS) has been assigned an average recommendation of “Hold” from the twenty-three brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $304.1375.

ESS has been the topic of a number of research analyst reports. Evercore reiterated an “outperform” rating and issued a $303.00 target price on shares of Essex Property Trust in a research note on Thursday, July 30th. Stifel Nicolaus set a $292.75 price target on shares of Essex Property Trust in a research note on Thursday, July 30th. Wells Fargo & Company lifted their price target on shares of Essex Property Trust from $280.00 to $297.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Wall Street Zen downgraded Essex Property Trust from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings lowered Essex Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday.

Essex Property Trust Price Performance

Shares of NYSE ESS opened at $273.24 on Friday. The company has a market capitalization of $17.56 billion, a PE ratio of 42.49, a PEG ratio of 9.98 and a beta of 0.69. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.22. The stock’s 50 day moving average price is $287.33 and its 200-day moving average price is $272.56. Essex Property Trust has a twelve month low of $238.46 and a twelve month high of $303.35.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $2.62. The company had revenue of $489.05 million during the quarter, compared to the consensus estimate of $485.12 million. Essex Property Trust had a return on equity of 7.33% and a net margin of 21.48%.During the same period last year, the business posted $4.03 earnings per share. Essex Property Trust has set its Q3 2026 guidance at 3.930-4.050 EPS and its FY 2026 guidance at 16.030-16.250 EPS. On average, equities analysts anticipate that Essex Property Trust will post 16.18 EPS for the current year.

Essex Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $2.59 per share. This represents a $10.36 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Essex Property Trust’s dividend payout ratio is currently 161.12%.

Institutional Investors Weigh In On Essex Property Trust

Several large investors have recently added to or reduced their stakes in the company. Nemes Rush Group LLC purchased a new stake in Essex Property Trust during the fourth quarter valued at about $27,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Essex Property Trust in the first quarter worth about $38,000. Elevation Wealth Partners LLC increased its stake in shares of Essex Property Trust by 523.1% in the second quarter. Elevation Wealth Partners LLC now owns 162 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 136 shares in the last quarter. Western Wealth Management LLC bought a new stake in shares of Essex Property Trust in the first quarter valued at approximately $44,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of Essex Property Trust in the second quarter valued at approximately $54,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

About Essex Property Trust

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust that owns, operates, develops and redevelops multifamily residential communities. Its portfolio primarily consists of apartment homes, supported by property management, maintenance and resident services.

The company focuses on high-demand coastal markets on the West Coast, particularly Northern and Southern California and the Seattle metropolitan area in Washington. Essex’s properties are generally located near employment centers, transportation networks and other amenities, serving renters in major urban and suburban communities.

Founded in 1971, Essex Property Trust became a publicly traded real estate investment trust in 1994.