Essex Property Trust, Inc. (NYSE:ESS) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Wall Street sentiment is mixed on Essex Property Trust, with a consensus rating of “Hold” from 20 brokerages. The average 1-year price target is about $292.08, while recent analyst moves included both upgrades and downgrades.
• The stock rose 3.4% and opened at $295.38, near its 52-week high of $295.85. Essex also reported a market cap of $18.98 billion and a dividend yield of 3.5%.
• Recent fundamentals were uneven: the company missed quarterly EPS expectations in its latest earnings report, though revenue slightly topped estimates. It also announced a quarterly dividend of $2.59 per share, payable July 15, despite a payout ratio above 100%.

Shares of Essex Property Trust, Inc. (NYSE:ESS - Get Free Report) have received a consensus rating of "Hold" from the twenty brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $292.0833.

Several research firms have recently commented on ESS. Mizuho lifted their price objective on shares of Essex Property Trust from $285.00 to $308.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 10th. JPMorgan Chase & Co. lifted their price objective on shares of Essex Property Trust from $272.00 to $275.00 and gave the stock an "underweight" rating in a research note on Monday, May 18th. Raymond James Financial upgraded shares of Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $320.00 target price for the company in a research report on Friday. Royal Bank Of Canada boosted their target price on shares of 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, Cantor Fitzgerald boosted their target price on shares of Essex Property Trust from $290.00 to $291.00 and gave the company an "overweight" rating in a research report on Monday, May 4th.

Essex Property Trust Trading Up 3.4%

Shares of ESS stock opened at $295.38 on Friday. Essex Property Trust has a 1 year low of $238.46 and a 1 year high of $295.85. The firm has a fifty day moving average price of $272.25 and a 200-day moving average price of $259.96. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $18.98 billion, a price-to-earnings ratio of 33.19, a PEG ratio of 12.75 and a beta of 0.72.

Essex Property Trust (NYSE:ESS - Get Free Report) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($2.31). The firm had revenue of $484.76 million during the quarter, compared to the consensus estimate of $479.89 million. Essex Property Trust had a return on equity of 10.00% and a net margin of 30.03%.During the same period in the prior year, the company posted $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. As a group, equities analysts predict that Essex Property Trust will post 16.12 earnings per share for the current year.

Essex Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $2.59 per share. The ex-dividend date is Tuesday, June 30th. This represents a $10.36 dividend on an annualized basis and a yield of 3.5%. Essex Property Trust's payout ratio is currently 116.40%.

Insider Transactions at Essex Property Trust

In related news, Director Mary Kasaris sold 600 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $279.45, for a total transaction of $167,670.00. Following the completion of the transaction, the director directly owned 2,394 shares in the company, valued at $669,003.30. The trade was a 20.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC increased its holdings in Essex Property Trust by 5.2% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 814 shares of the real estate investment trust's stock valued at $213,000 after buying an additional 40 shares in the last quarter. Segment Wealth Management LLC increased its stake in shares of Essex Property Trust by 5.1% during the fourth quarter. Segment Wealth Management LLC now owns 913 shares of the real estate investment trust's stock worth $239,000 after purchasing an additional 44 shares in the last quarter. Norinchukin Bank The increased its stake in shares of Essex Property Trust by 0.6% during the third quarter. Norinchukin Bank The now owns 6,957 shares of the real estate investment trust's stock worth $1,862,000 after purchasing an additional 44 shares in the last quarter. Signaturefd LLC increased its stake in shares of Essex Property Trust by 11.3% during the fourth quarter. Signaturefd LLC now owns 445 shares of the real estate investment trust's stock worth $116,000 after purchasing an additional 45 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Essex Property Trust by 2.0% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,537 shares of the real estate investment trust's stock worth $664,000 after purchasing an additional 50 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.