Evercore ISI Analysts Give Essex Property Trust (NYSE:ESS) a $333.00 Price Target

Evercore ISI set a $333.00 price objective on Essex Property Trust (NYSE:ESSGet Rating) in a research report report published on Monday morning, Stock Target Advisor reports.

A number of other analysts also recently weighed in on ESS. Stifel Nicolaus decreased their price target on Essex Property Trust from $390.00 to $352.00 in a research note on Thursday, June 9th. Piper Sandler decreased their price target on Essex Property Trust from $420.00 to $400.00 in a research note on Wednesday, May 4th. StockNews.com initiated coverage on Essex Property Trust in a research note on Thursday, March 31st. They issued a hold rating on the stock. Truist Financial decreased their price target on Essex Property Trust from $370.00 to $323.00 and set a buy rating on the stock in a research note on Wednesday, May 25th. Finally, Scotiabank decreased their price target on Essex Property Trust from $340.00 to $333.00 in a research note on Thursday, May 19th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $337.07.

NYSE:ESS opened at $259.44 on Monday. The firm has a market cap of $16.95 billion, a P/E ratio of 42.95, a PEG ratio of 2.87 and a beta of 0.75. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.98. The stock’s 50 day simple moving average is $296.91 and its 200-day simple moving average is $323.81. Essex Property Trust has a 12-month low of $250.62 and a 12-month high of $363.36.

Essex Property Trust (NYSE:ESSGet Rating) last released its earnings results on Tuesday, April 26th. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.35 by ($2.23). Essex Property Trust had a net margin of 26.81% and a return on equity of 5.25%. During the same period last year, the business posted $3.07 earnings per share. Research analysts forecast that Essex Property Trust will post 14.08 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a $2.20 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $8.80 annualized dividend and a dividend yield of 3.39%. Essex Property Trust’s dividend payout ratio is currently 145.70%.

In other news, CEO Michael J. Schall sold 12,132 shares of the company’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $349.19, for a total value of $4,236,373.08. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Angela L. Kleiman sold 6,309 shares of the company’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $354.21, for a total value of $2,234,710.89. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in ESS. Cassady Schiller Wealth Management LLC acquired a new position in Essex Property Trust in the fourth quarter valued at $28,000. Riverview Trust Co acquired a new position in Essex Property Trust in the first quarter valued at $31,000. Danda Trouve Investment Management Inc. acquired a new position in Essex Property Trust in the fourth quarter valued at $40,000. Total Clarity Wealth Management Inc. acquired a new position in Essex Property Trust in the fourth quarter valued at $45,000. Finally, Huntington National Bank increased its stake in Essex Property Trust by 53.5% in the fourth quarter. Huntington National Bank now owns 132 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Essex Property Trust Company Profile (Get Rating)

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 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.

Further Reading

Analyst Recommendations for Essex Property Trust (NYSE:ESS)

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