Essex Property Trust Inc. (NYSE:ESS) has received an average recommendation of “Hold” from the twenty-three analysts that are presently covering the stock. Fourteen investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $244.90.
A number of brokerages have recently commented on ESS. Barclays PLC upped their price target on Essex Property Trust from $242.00 to $243.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 19th. Evercore Partners Inc. reaffirmed a “hold” rating on shares of Essex Property Trust in a research note on Friday, July 15th. Canaccord Genuity reaffirmed a “hold” rating on shares of Essex Property Trust in a research note on Monday, June 20th. BTIG Research began coverage on Essex Property Trust in a research note on Thursday, August 25th. They issued a “buy” rating and a $260.00 price target for the company. Finally, Jefferies Group upped their price target on Essex Property Trust from $209.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, August 10th.
In related news, Director Keith R. Guericke sold 5,000 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $233.49, for a total value of $1,167,450.00. Following the sale, the director now owns 63,750 shares in the company, valued at approximately $14,884,987.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John D. Eudy sold 2,500 shares of the stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $226.41, for a total value of $566,025.00. Following the completion of the sale, the insider now owns 9,268 shares in the company, valued at approximately $2,098,367.88. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Washington Trust Bank boosted its stake in Essex Property Trust by 1.3% in the third quarter. Washington Trust Bank now owns 472 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 6 shares during the period. Hanson McClain Inc. boosted its stake in Essex Property Trust by 0.5% in the second quarter. Hanson McClain Inc. now owns 608 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 3 shares during the period. Checchi Capital Advisers LLC boosted its stake in Essex Property Trust by 19.3% in the second quarter. Checchi Capital Advisers LLC now owns 680 shares of the real estate investment trust’s stock worth $155,000 after buying an additional 110 shares during the period. Global X Management Co. LLC boosted its stake in Essex Property Trust by 110.2% in the second quarter. Global X Management Co. LLC now owns 763 shares of the real estate investment trust’s stock worth $174,000 after buying an additional 400 shares during the period. Finally, First Allied Advisory Services Inc. acquired a new stake in Essex Property Trust during the second quarter worth $211,000. Institutional investors and hedge funds own 98.99% of the company’s stock.
Shares of Essex Property Trust (NYSE:ESS) opened at 208.72 on Thursday. Essex Property Trust has a 52-week low of $191.25 and a 52-week high of $244.71. The stock has a market capitalization of $13.67 billion, a price-to-earnings ratio of 50.19 and a beta of 0.72. The stock has a 50 day moving average of $222.06 and a 200-day moving average of $224.63.
Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Friday, July 29th. The real estate investment trust reported $2.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.70 by $0.04. Essex Property Trust had a return on equity of 4.38% and a net margin of 22.25%. During the same quarter in the previous year, the company posted $2.40 earnings per share. On average, equities research analysts predict that Essex Property Trust will post $11.01 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Wednesday, September 28th. Essex Property Trust’s dividend payout ratio (DPR) is presently 153.85%.
About Essex Property Trust
Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. (the Operating Partnership). The Company is engaged in the ownership, operation, management, acquisition, development and redevelopment of apartment communities.
Receive News & Ratings for Essex Property Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essex Property Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.