Essex Property Trust (NYSE:ESS) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Essex Property Trust from “hold” to “sell,” contrasting with the broader analyst consensus of “Moderate Buy” and an average price target of $304.69.
• Analyst sentiment remains mixed but generally positive: Jefferies and Citizens JMP issued upgrades, while Barclays and Truist maintained “equal weight” or “hold” ratings. Citizens JMP set the highest cited target at $330.
• Essex shares opened at $284.68, with a market capitalization of about $18.29 billion; the company’s latest quarterly revenue exceeded expectations, but EPS fell well short of consensus estimates.

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

Several other equities analysts have also issued reports on ESS. Jefferies Financial Group raised shares of Essex Property Trust to a "strong-buy" rating in a report on Wednesday, July 22nd. Barclays increased their price objective on Essex Property Trust from $277.00 to $296.00 and gave the company an "equal weight" rating in a report on Tuesday, July 14th. Truist Financial boosted their target price on Essex Property Trust from $273.00 to $286.00 and gave the stock a "hold" rating in a research note on Wednesday, May 27th. Sanford C. Bernstein initiated coverage on Essex Property Trust in a research report on Friday, June 26th. They set an "outperform" rating and a $320.00 target price on the stock. Finally, Citizens Jmp upgraded Essex Property Trust from a "market perform" rating to an "outperform" rating and set a $330.00 price target for the company in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $304.69.

Essex Property Trust Stock Up 1.0%

Shares of Essex Property Trust stock opened at $284.68 on Friday. The firm's 50 day moving average price is $286.95 and its 200-day moving average price is $266.20. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.22. Essex Property Trust has a 52-week low of $238.46 and a 52-week high of $303.35. The company has a market cap of $18.29 billion, a P/E ratio of 44.27, a PEG ratio of 12.13 and a beta of 0.70.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.65 EPS for the quarter, missing analysts' consensus estimates of $3.96 by ($2.31). Essex Property Trust had a net margin of 21.48% and a return on equity of 7.33%. The firm had revenue of $484.76 million for the quarter, compared to analysts' expectations of $479.89 million. During the same period in the previous year, the company earned $3.97 EPS. On average, sell-side analysts predict that Essex Property Trust will post 16.14 EPS for the current fiscal year.

Insider Activity

In other news, Director Mary Kasaris sold 600 shares of Essex Property Trust 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 sale, the director directly owned 2,394 shares in the company, valued at approximately $669,003.30. The trade was a 20.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.47% of the company's stock.

Hedge Funds Weigh In On Essex Property Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nemes Rush Group LLC acquired a new stake in shares of Essex Property Trust during the fourth quarter worth about $27,000. Generali Asset Management SPA SGR acquired a new position in Essex Property Trust in the 4th quarter worth approximately $29,000. Cassaday & Co Wealth Management LLC acquired a new position in Essex Property Trust in the 1st quarter worth approximately $38,000. Western Wealth Management LLC acquired a new position in Essex Property Trust in the 1st quarter worth approximately $44,000. Finally, Elevation Wealth Partners LLC raised its position in Essex Property Trust by 523.1% during the 2nd quarter. Elevation Wealth Partners LLC now owns 162 shares of the real estate investment trust's stock worth $47,000 after buying an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

More Essex Property Trust News

Here are the key news stories impacting Essex Property Trust this week:

• Positive Sentiment: Essex raised the midpoint of its full-year 2026 core funds from operations (FFO) outlook by $0.20 and forecast third-quarter core FFO of $3.99. The higher outlook reflects resilient rental demand and better-than-expected property performance. Essex raises full-year core FFO midpoint
• Positive Sentiment: Second-quarter FFO exceeded analysts’ expectations as same-property net operating income and revenue increased. Northern California was the standout market, helping support the company’s raised 2026 view. ESS Q2 FFO beats estimates
• Positive Sentiment: Citizens JMP upgraded ESS from “market perform” to “outperform” and assigned a $330 price target, while RBC raised its target from $306 to $312 and maintained an “outperform” rating. The upgrades indicate improving analyst confidence after the earnings report. Essex upgraded at Citizens RBC raises Essex price target
• Neutral Sentiment: Management highlighted a regional divide: Northern California rent growth remains strong, but conditions are less uniform across Essex’s other markets. This creates some uncertainty around the pace and breadth of future growth. Essex Property Trust ups guidance amid regional divide

About Essex Property Trust

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.

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