Essex Property Trust (NYSE:ESS) Price Target Raised to $290.00 at Scotiabank

Essex Property Trust (NYSE:ESS) had its target price upped by analysts at Scotiabank from $282.00 to $290.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price target indicates a potential upside of 4.86% from the stock’s current price.

A number of other brokerages also recently issued reports on ESS. Truist Financial raised their price target on Essex Property Trust from $273.00 to $286.00 and gave the stock a “hold” rating in a research report on Wednesday, May 27th. Morgan Stanley set a $293.00 target price on Essex Property Trust in a research report on Friday, May 15th. Robert W. Baird raised their price target on Essex Property Trust from $279.00 to $281.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Royal Bank Of Canada upped their price objective on Essex Property Trust from $282.00 to $288.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Finally, Evercore reiterated an “outperform” rating and set a $296.00 target price on shares of Essex Property Trust in a research report on Monday, June 8th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Essex Property Trust has an average rating of “Hold” and a consensus target price of $288.91.

Essex Property Trust Price Performance

Shares of ESS traded up $2.16 during trading hours on Thursday, reaching $276.56. 135,927 shares of the stock traded hands, compared to its average volume of 510,412. Essex Property Trust has a 52-week low of $238.46 and a 52-week high of $294.09. 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 company has a market cap of $17.77 billion, a P/E ratio of 31.06, a price-to-earnings-growth ratio of 12.11 and a beta of 0.72. The company’s 50-day moving average price is $267.96 and its two-hundred day moving average price is $258.91.

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

Insiders Place Their Bets

In other Essex Property Trust news, Director Mary Kasaris sold 600 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $279.45, for a total value of $167,670.00. Following the completion of the sale, the director directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.47% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ESS. Nemes Rush Group LLC acquired a new stake in shares of Essex Property Trust during the 4th quarter worth about $27,000. Generali Asset Management SPA SGR acquired a new stake in shares of Essex Property Trust during the fourth quarter valued at about $29,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Essex Property Trust in the 1st quarter valued at approximately $38,000. True Wealth Design LLC lifted its holdings in shares of Essex Property Trust by 120.0% in the 4th 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 last quarter. Finally, Western Wealth Management LLC acquired a new position in shares of Essex Property Trust in the 1st 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.