Essex Property Trust, Inc. (NYSE:ESS) Receives Average Recommendation of “Hold” from Brokerages

by · The Cerbat Gem

Essex Property Trust, Inc. (NYSE:ESS – Get Free Report) has earned an average rating of “Hold” from the twenty research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $291.5313.

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Essex Property Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Wells Fargo & Company lowered their price target on shares of Essex Property Trust from $280.00 to $268.00 and set an “equal weight” rating for the company in a research report on Monday, November 10th. Barclays cut their price objective on shares of Essex Property Trust from $297.00 to $290.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Essex Property Trust in a research note on Wednesday, October 8th. Finally, Mizuho raised their price target on shares of Essex Property Trust from $275.00 to $284.00 and gave the company an “outperform” rating in a research note on Monday, November 24th.

Check Out Our Latest Report on Essex Property Trust

Essex Property Trust Trading Down 0.2%

Essex Property Trust stock opened at $257.73 on Wednesday. Essex Property Trust has a 1 year low of $243.25 and a 1 year high of $316.29. The firm’s 50-day moving average is $258.09 and its 200-day moving average is $268.28. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market cap of $16.60 billion, a P/E ratio of 19.58, a PEG ratio of 6.25 and a beta of 0.72.

Essex Property Trust (NYSE:ESS – Get Free Report) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $3.97 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.01. Essex Property Trust had a net margin of 45.46% and a return on equity of 14.68%. The firm had revenue of $473.30 million for the quarter, compared to analyst estimates of $472.11 million. During the same quarter in the prior year, the business 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, equities analysts expect that Essex Property Trust will post 15.96 earnings per share for the current year.

Essex Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be paid a dividend of $2.57 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $10.28 annualized dividend and a yield of 4.0%. Essex Property Trust’s payout ratio is presently 78.12%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ESS. Valeo Financial Advisors LLC lifted its position in 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 purchasing an additional 2,976,047 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Essex Property Trust by 66.5% in 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 buying an additional 1,096,619 shares in the last quarter. Norges Bank acquired a new stake in shares of Essex Property Trust in the second quarter valued at $239,442,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Essex Property Trust by 973.0% during the third 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 in the last quarter. Finally, Centersquare Investment Management LLC boosted its stake in 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 valued at $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

(Get Free Report)

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.

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