Essex Property Trust (NYSE:ESS) Rating Increased to Hold at Wall Street Zen

Essex Property Trust (NYSE:ESS - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

A number of other equities research analysts have also recently commented on the stock. UBS Group dropped their price objective on shares of Essex Property Trust from $297.00 to $295.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Morgan Stanley cut their price target on Essex Property Trust from $304.00 to $285.00 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. BNP Paribas cut Essex Property Trust from an "outperform" rating to a "hold" rating in a report on Monday. Wells Fargo & Company dropped their target price on shares of Essex Property Trust from $325.00 to $279.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. Finally, Piper Sandler cut shares of Essex Property Trust from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $355.00 to $275.00 in a research report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $297.28.

Essex Property Trust Stock Up 0.3%

Shares of NYSE ESS opened at $264.63 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.16. The firm's 50-day moving average price is $264.40 and its 200-day moving average price is $277.00. The stock has a market capitalization of $17.04 billion, a price-to-earnings ratio of 21.27, a P/E/G ratio of 6.72 and a beta of 0.81. Essex Property Trust has a 12-month low of $243.85 and a 12-month high of $316.29.

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 earnings per share for the quarter, beating analysts' consensus estimates of $3.99 by $0.04. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. The company had revenue of $465.84 million during the quarter, compared to analyst estimates of $466.47 million. During the same quarter last year, the business posted $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. On average, equities research analysts anticipate that Essex Property Trust will post 15.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Essex Property Trust by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 10,493,313 shares of the real estate investment trust's stock worth $2,973,805,000 after acquiring an additional 53,039 shares during the period. State Street Corp grew its position in shares of Essex Property Trust by 2.5% during the 2nd quarter. State Street Corp now owns 5,388,169 shares of the real estate investment trust's stock valued at $1,540,570,000 after buying an additional 129,806 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in Essex Property Trust by 151,452.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,978,012 shares of the real estate investment trust's stock valued at $843,969,000 after purchasing an additional 2,976,047 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Essex Property Trust by 66.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,746,242 shares of the real estate investment trust's stock worth $841,916,000 after acquiring an additional 1,096,619 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Essex Property Trust by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,825,007 shares of the real estate investment trust's stock worth $515,226,000 after buying an additional 23,565 shares in the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

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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