Essex Property Trust (NYSE:ESS) Upgraded by UBS Group to "Hold" Rating

Key Points

• UBS Group upgraded Essex Property Trust to “Hold,” while the broader analyst consensus remains “Hold” with an average price target of $303.94.
• Analysts have issued mixed but generally improved views, including upgrades from Raymond James and Jefferies, while price targets range from $286 to $320.
• Essex reported quarterly EPS of $4.08, beating expectations of $1.46, and revenue of $489.05 million, slightly above estimates; institutional investors own 96.51% of the stock.

Essex Property Trust (NYSE:ESS - Get Free Report) was upgraded by UBS Group to a "hold" rating in a research note issued to investors on Tuesday, Zacks reports.

A number of other research analysts also recently issued reports on ESS. Raymond James Financial upgraded Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $320.00 price objective for the company in a research note on Friday, June 26th. Jefferies Financial Group raised shares of Essex Property Trust to a "strong-buy" rating in a report on Wednesday, July 22nd. Cantor Fitzgerald upped their price target on shares of Essex Property Trust from $291.00 to $316.00 and gave the stock an "overweight" rating in a research report on Monday, August 3rd. Truist Financial increased their price objective on shares of Essex Property Trust from $273.00 to $286.00 and gave the stock a "hold" rating in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Essex Property Trust from $275.00 to $295.00 and gave the company an "underweight" rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Essex Property Trust currently has an average rating of "Hold" and an average price target of $303.94.

Essex Property Trust Price Performance

Shares of Essex Property Trust stock opened at $271.31 on Tuesday. Essex Property Trust has a one year low of $238.46 and a one year high of $303.35. The stock's fifty day moving average is $286.03 and its 200 day moving average is $272.86. The stock has a market cap of $17.44 billion, a P/E ratio of 42.19, a P/E/G ratio of 10.09 and a beta of 0.69. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.60 and a current ratio of 0.60.

Essex Property Trust (NYSE:ESS - Get Free Report) last released its quarterly earnings results 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 analyst estimates 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 in the previous year, the company posted $4.03 earnings per share. 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. Sell-side analysts anticipate that Essex Property Trust will post 16.18 earnings per share for the current year.

Hedge Funds Weigh In On Essex Property Trust

A number of hedge funds and other institutional investors have recently modified their holdings of ESS. Nemes Rush Group LLC purchased a new stake in Essex Property Trust in the 4th quarter worth $27,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Essex Property Trust in the first quarter worth about $38,000. Elevation Wealth Partners LLC increased its holdings in shares of Essex Property Trust by 523.1% in the second quarter. Elevation Wealth Partners LLC now owns 162 shares of the real estate investment trust's stock worth $47,000 after purchasing an additional 136 shares during the last quarter. Western Wealth Management LLC purchased a new stake in shares of Essex Property Trust in the first quarter worth about $44,000. Finally, Hantz Financial Services Inc. lifted its position in shares of Essex Property Trust by 67.8% in the fourth quarter. Hantz Financial Services Inc. now owns 193 shares of the real estate investment trust's stock worth $51,000 after buying an additional 78 shares in the last quarter. Institutional investors own 96.51% of the company's stock.

About Essex Property Trust

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust that owns, operates, develops and redevelops multifamily residential communities. Its portfolio primarily consists of apartment homes, supported by property management, maintenance and resident services.

The company focuses on high-demand coastal markets on the West Coast, particularly Northern and Southern California and the Seattle metropolitan area in Washington. Essex's properties are generally located near employment centers, transportation networks and other amenities, serving renters in major urban and suburban communities.

Founded in 1971, Essex Property Trust became a publicly traded real estate investment trust in 1994.

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