Essex Property Trust (NYSE:ESS - Get Free Report) was downgraded by BNP Paribas Exane from an "outperform" rating to a "neutral" rating in a report released on Monday, MarketBeat.com reports.
A number of other research analysts also recently commented on the company. Evercore ISI increased their target price on Essex Property Trust from $279.00 to $283.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. Royal Bank Of Canada increased their target price on Essex Property Trust from $306.00 to $307.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Morgan Stanley cut their price target on Essex Property Trust from $304.00 to $285.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 13th. BNP Paribas downgraded Essex Property Trust from an "outperform" rating to a "neutral" rating in a report on Monday. Finally, Stifel Nicolaus raised their target price on Essex Property Trust from $301.50 to $305.50 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Essex Property Trust has an average rating of "Hold" and a consensus target price of $297.17.
Check Out Our Latest Stock Analysis on ESS
Essex Property Trust Stock Down 0.5%
Shares of NYSE ESS traded down $1.26 on Monday, hitting $266.54. The company had a trading volume of 71,457 shares, compared to its average volume of 476,073. Essex Property Trust has a 12-month low of $243.85 and a 12-month high of $316.29. The business has a 50 day moving average of $266.71 and a two-hundred day moving average of $277.83. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $17.16 billion, a P/E ratio of 21.43, a PEG ratio of 6.82 and a beta of 0.83.
Essex Property Trust (NYSE:ESS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share for the quarter, beating analysts' consensus estimates of $3.99 by $0.04. Essex Property Trust had a return on equity of 13.98% and a net margin of 43.51%.The firm had revenue of $465.84 million during the quarter, compared to analyst estimates of $466.47 million. During the same quarter last year, the firm earned $3.94 EPS. Essex Property Trust has set its Q3 2025 guidance at 3.890-3.990 EPS. FY 2025 guidance at 15.800-16.020 EPS. As a group, equities research analysts forecast that Essex Property Trust will post 15.96 earnings per share for the current fiscal year.
Institutional Trading of Essex Property Trust
A number of institutional investors have recently bought and sold shares of the company. Huntington National Bank increased its holdings in shares of Essex Property Trust by 16.1% in the 2nd quarter. Huntington National Bank now owns 288 shares of the real estate investment trust's stock worth $82,000 after buying an additional 40 shares during the last quarter. Turning Point Benefit Group Inc. boosted its position in Essex Property Trust by 2.3% during the 2nd quarter. Turning Point Benefit Group Inc. now owns 1,861 shares of the real estate investment trust's stock valued at $527,000 after buying an additional 42 shares during the period. Stephens Inc. AR boosted its position in Essex Property Trust by 4.6% during the 1st quarter. Stephens Inc. AR now owns 985 shares of the real estate investment trust's stock valued at $302,000 after buying an additional 43 shares during the period. Horizon Investments LLC boosted its position in Essex Property Trust by 5.0% during the 1st quarter. Horizon Investments LLC now owns 929 shares of the real estate investment trust's stock valued at $285,000 after buying an additional 44 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its position in Essex Property Trust by 6.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 778 shares of the real estate investment trust's stock valued at $239,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 96.51% of the company's stock.
About Essex Property Trust
(
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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