Essex Property Trust (NYSE:ESS) Raised to Hold at Jefferies Financial Group

Essex Property Trust (NYSE:ESS) was upgraded by Jefferies Financial Group to a “hold” rating in a note issued to investors on Friday,Zacks.com reports.

Several other brokerages have also issued reports on ESS. Mizuho lifted 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. Robert W. Baird upped their price target on shares of Essex Property Trust from $279.00 to $281.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Raymond James Financial raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $320.00 price target on the stock in a research note on Friday. Morgan Stanley lifted their price objective on Essex Property Trust from $293.00 to $302.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Wall Street Zen lowered Essex Property Trust from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. Nine analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $292.08.

Essex Property Trust Trading Up 3.4%

Shares of NYSE:ESS opened at $295.38 on Friday. The business’s 50 day moving average price is $272.25 and its 200-day moving average price is $259.96. Essex Property Trust has a 1 year low of $238.46 and a 1 year high of $295.85. The firm has a market capitalization of $18.98 billion, a price-to-earnings ratio of 33.19, a price-to-earnings-growth ratio of 12.33 and a beta of 0.72. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.98 and a quick ratio of 0.98.

Essex Property Trust (NYSE:ESS) last issued 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 company had revenue of $484.76 million during the quarter, compared to analysts’ expectations of $479.89 million. Essex Property Trust had a return on equity of 10.00% and a net margin of 30.03%.During the same period in the previous year, the firm posted $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. On average, equities research analysts forecast that Essex Property Trust will post 16.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Essex Property Trust

In related news, Director Mary Kasaris sold 600 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $279.45, for a total value of $167,670.00. Following the completion of the sale, the director owned 2,394 shares of the company’s stock, valued at approximately $669,003.30. This represents a 20.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 3.47% of the company’s stock.

Hedge Funds Weigh In On Essex Property Trust

Several institutional investors and hedge funds have recently bought and sold shares of ESS. Nemes Rush Group LLC acquired a new stake in shares of Essex Property Trust during the 4th quarter worth approximately $27,000. Generali Asset Management SPA SGR acquired a new position in Essex Property Trust in the fourth quarter valued at approximately $29,000. Cassaday & Co Wealth Management LLC acquired a new position in Essex Property Trust in the first quarter valued at approximately $38,000. True Wealth Design LLC grew its position in Essex Property Trust by 120.0% in the fourth quarter. True Wealth Design LLC now owns 176 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 96 shares during the period. Finally, Western Wealth Management LLC purchased a new position in Essex Property Trust in the first quarter worth approximately $44,000. 96.51% of the stock is currently 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.