Essex Property Trust (NYSE:ESS) Cut to "Hold" at Mizuho

Essex Property Trust (NYSE:ESS - Get Free Report) was downgraded by Mizuho from a "strong-buy" rating to a "hold" rating in a research note issued on Tuesday, Zacks reports.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Essex Property Trust from $280.00 to $297.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 22nd. Morgan Stanley raised their price objective on Essex Property Trust from $293.00 to $302.00 and gave the stock an "equal weight" rating in a report on Thursday, June 25th. Jefferies Financial Group raised Essex Property Trust to a "strong-buy" rating in a report on Wednesday, July 22nd. Citigroup raised shares of Essex Property Trust from a "buy" rating to an "outperform" rating in a research report on Friday, July 31st. Finally, Truist Financial upped their price objective on Essex Property Trust from $273.00 to $286.00 and gave the company a "hold" rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $304.14.

Essex Property Trust Stock Down 0.2%

Shares of NYSE ESS opened at $277.92 on Tuesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.22. The stock has a market cap of $17.86 billion, a P/E ratio of 43.22, a PEG ratio of 10.19 and a beta of 0.69. The business's fifty day simple moving average is $288.76 and its 200-day simple moving average is $272.18. Essex Property Trust has a 12-month low of $238.46 and a 12-month high of $303.35.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $2.62. The business had revenue of $489.05 million during the quarter, compared to analysts' expectations of $485.12 million. Essex Property Trust had a return on equity of 7.33% and a net margin of 21.48%.During the same quarter last year, the business posted $4.03 EPS. Essex Property Trust has set its Q3 2026 guidance at 3.930-4.050 EPS and its FY 2026 guidance at 16.030-16.250 EPS. As a group, equities analysts predict that Essex Property Trust will post 16.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Woodline Partners LP acquired a new stake in shares of Essex Property Trust in the first quarter valued at about $1,664,000. Focus Partners Wealth acquired a new position in Essex Property Trust during the first quarter worth about $223,000. EverSource Wealth Advisors LLC grew its position in Essex Property Trust by 70.1% during the second quarter. EverSource Wealth Advisors LLC now owns 279 shares of the real estate investment trust's stock worth $79,000 after buying an additional 115 shares during the period. First Trust Advisors LP increased its holdings in Essex Property Trust by 186.2% in the second quarter. First Trust Advisors LP now owns 33,614 shares of the real estate investment trust's stock valued at $9,526,000 after buying an additional 21,871 shares in the last quarter. Finally, Bank of Nova Scotia increased its holdings in Essex Property Trust by 10.9% in the second quarter. Bank of Nova Scotia now owns 8,274 shares of the real estate investment trust's stock valued at $2,345,000 after buying an additional 811 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Essex Property Trust Company Profile

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.

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