Essex Property Trust (NYSE:ESS) Sets New 12-Month High – Here’s Why

Essex Property Trust, Inc. (NYSE:ESS) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $294.15 and last traded at $295.3830, with a volume of 273980 shares changing hands. The stock had previously closed at $285.57.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Sanford C. Bernstein began coverage on shares of Essex Property Trust in a research note on Friday. They set an “outperform” rating and a $320.00 target price for the company. Piper Sandler upgraded shares of Essex Property Trust from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $275.00 to $310.00 in a report on Monday, May 4th. Royal Bank Of Canada increased their price objective on shares of Essex Property Trust from $282.00 to $288.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of Essex Property Trust from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 12th. Finally, Stifel Nicolaus boosted their target price on Essex Property Trust from $278.00 to $281.50 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $292.08.

Essex Property Trust Stock Up 3.4%

The company has a market capitalization of $18.98 billion, a PE ratio of 33.19, a PEG ratio of 12.16 and a beta of 0.72. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.22. The business has a fifty day moving average of $271.38 and a 200 day moving average of $259.71.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($2.31). Essex Property Trust had a return on equity of 10.00% and a net margin of 30.03%.The business had revenue of $484.76 million for the quarter, compared to analysts’ expectations of $479.89 million. During the same quarter last year, the company earned $3.97 earnings per share. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Equities research analysts anticipate that Essex Property Trust, Inc. will post 16.08 EPS for the current year.

Essex Property Trust Announces Dividend

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

Insider Buying and Selling

In other Essex Property Trust 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 value of $167,670.00. Following the completion of the transaction, the director owned 2,394 shares of the company’s stock, valued at $669,003.30. This trade represents a 20.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 3.47% of the stock is owned by corporate insiders.

Institutional Trading of Essex Property Trust

Several hedge funds have recently modified their holdings of ESS. Nemes Rush Group LLC acquired a new position in Essex Property Trust during the 4th quarter worth $27,000. Generali Asset Management SPA SGR purchased a new position in shares of Essex Property Trust in the 4th quarter valued at about $29,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Essex Property Trust in the 1st quarter valued at about $38,000. Western Wealth Management LLC purchased a new position in shares of Essex Property Trust in the 1st quarter valued at about $44,000. Finally, True Wealth Design LLC grew its position in shares of Essex Property Trust by 120.0% during the fourth quarter. True Wealth Design LLC now owns 176 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 96 shares in the last quarter. 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.