Essex Property Trust’s (ESS) Market Perform Rating Reaffirmed at JMP Securities

JMP Securities restated their market perform rating on shares of Essex Property Trust (NYSE:ESSFree Report) in a research report released on Thursday,Benzinga reports.

Several other research firms have also commented on ESS. Mizuho reduced their price target on shares of Essex Property Trust from $325.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised Essex Property Trust from a “hold” rating to a “buy” rating and boosted their target price for the company from $308.00 to $310.00 in a research report on Tuesday, January 21st. Barclays cut their target price on Essex Property Trust from $316.00 to $302.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. JPMorgan Chase & Co. lowered Essex Property Trust from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $297.00 to $303.00 in a research report on Tuesday, December 17th. Finally, BMO Capital Markets raised Essex Property Trust from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $323.00 to $310.00 in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $305.74.

View Our Latest Report on Essex Property Trust

Essex Property Trust Trading Up 0.6 %

ESS stock opened at $297.55 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.13. Essex Property Trust has a 12-month low of $223.06 and a 12-month high of $317.73. The stock has a market cap of $19.12 billion, a price-to-earnings ratio of 34.76, a PEG ratio of 6.60 and a beta of 0.92. The business’s 50-day moving average is $287.46 and its 200 day moving average is $292.36.

Essex Property Trust (NYSE:ESSGet Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $2.52. Essex Property Trust had a return on equity of 9.72% and a net margin of 31.55%. On average, sell-side analysts anticipate that Essex Property Trust will post 15.58 EPS for the current fiscal year.

Essex Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were paid a dividend of $2.45 per share. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Thursday, January 2nd. Essex Property Trust’s dividend payout ratio is presently 114.49%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Essex Property Trust by 732.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 719,596 shares of the real estate investment trust’s stock valued at $212,583,000 after purchasing an additional 633,200 shares during the period. International Assets Investment Management LLC acquired a new position in Essex Property Trust in the third quarter worth about $84,393,000. Jacobs Levy Equity Management Inc. grew its stake in Essex Property Trust by 154.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 444,391 shares of the real estate investment trust’s stock worth $131,282,000 after purchasing an additional 269,923 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Essex Property Trust by 16.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,329,516 shares of the real estate investment trust’s stock worth $392,766,000 after acquiring an additional 183,947 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Essex Property Trust by 201.7% in the fourth quarter. KBC Group NV now owns 225,768 shares of the real estate investment trust’s stock worth $64,443,000 after acquiring an additional 150,927 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

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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Analyst Recommendations for Essex Property Trust (NYSE:ESS)

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