Essex Property Trust (NYSE:ESS) Price Target Raised to $280.00

Key Points

• Wells Fargo & Company has raised the price target for Essex Property Trust (NYSE:ESS) from $279.00 to $280.00, indicating a potential upside of 9.40% from its current price.
• Essex Property Trust recently reported an EPS of $4.03 for the last quarter, exceeding analysts' expectations, while the stock has a consensus rating of "Hold" from twelve analysts.
• Several institutions have recently adjusted their positions, with 96.51% of Essex Property Trust's shares now owned by institutional investors.

Essex Property Trust (NYSE:ESS - Get Free Report) had its target price raised by equities research analysts at Wells Fargo & Company from $279.00 to $280.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective would suggest a potential upside of 9.40% from the company's current price.

ESS has been the topic of several other research reports. Raymond James Financial upgraded Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $315.00 target price on the stock in a report on Tuesday, June 24th. Barclays decreased their price target on shares of Essex Property Trust from $298.00 to $297.00 and set an "equal weight" rating on the stock in a research note on Tuesday, September 30th. Morgan Stanley dropped their price target on Essex Property Trust from $304.00 to $285.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 13th. Truist Financial reduced their price objective on shares of Essex Property Trust from $295.00 to $283.00 and set a "hold" rating on the stock in a research note on Tuesday, August 12th. Finally, Royal Bank Of Canada boosted their target price on shares of Essex Property Trust from $306.00 to $307.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Essex Property Trust presently has a consensus rating of "Hold" and a consensus price target of $297.09.

Essex Property Trust Stock Performance

Shares of ESS opened at $255.94 on Monday. The firm's 50 day moving average price is $263.21 and its two-hundred day moving average price is $275.14. Essex Property Trust has a twelve month low of $243.85 and a twelve month high of $316.29. The firm has a market cap of $16.48 billion, a P/E ratio of 20.57, a PEG ratio of 6.21 and a beta of 0.81. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.09 and a current ratio of 1.09.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $4.03 EPS for the quarter, topping analysts' consensus estimates of $3.99 by $0.04. The business had revenue of $465.84 million for the quarter, compared to analyst estimates of $466.47 million. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. During the same quarter in the previous year, the firm posted $3.94 earnings per share. Essex Property Trust has set its Q3 2025 guidance at 3.890-3.990 EPS. FY 2025 guidance at 15.800-16.020 EPS. On average, analysts forecast that Essex Property Trust will post 15.96 EPS for the current fiscal year.

Institutional Trading of Essex Property Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of ESS. U.S. Capital Wealth Advisors LLC lifted its stake in shares of Essex Property Trust by 19.8% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 993 shares of the real estate investment trust's stock valued at $266,000 after buying an additional 164 shares in the last quarter. Czech National Bank lifted its holdings in shares of Essex Property Trust by 3.9% in the third quarter. Czech National Bank now owns 16,358 shares of the real estate investment trust's stock valued at $4,378,000 after purchasing an additional 621 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in shares of Essex Property Trust by 309.3% during the third quarter. Aaron Wealth Advisors LLC now owns 5,460 shares of the real estate investment trust's stock valued at $1,461,000 after buying an additional 4,126 shares during the last quarter. Corient Private Wealth LLC raised its position in Essex Property Trust by 25.5% in the 2nd quarter. Corient Private Wealth LLC now owns 3,231 shares of the real estate investment trust's stock valued at $916,000 after buying an additional 657 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its stake in Essex Property Trust by 17.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,312 shares of the real estate investment trust's stock valued at $655,000 after acquiring an additional 347 shares in the last quarter. Institutional investors own 96.51% of the company's stock.

About Essex Property Trust

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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