Essex Property Trust (NYSE:ESS) Reaches New 1-Year High - Should You Buy?

Key Points

• Essex Property Trust shares hit a new 52-week high, trading as high as $303.35 before easing to $298.19, reflecting continued investor interest in the REIT.
• Analyst sentiment is mixed but generally neutral: the stock has nine Buy ratings, ten Hold ratings, and one Sell rating, with an average target price of $292.08—below the recent trading level.
• The company recently reported weaker-than-expected earnings, missing consensus EPS estimates in its last quarter, though it also announced a quarterly dividend of $2.59 per share, yielding about 3.5% annually.

Essex Property Trust, Inc. (NYSE:ESS - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $303.35 and last traded at $298.19, with a volume of 757973 shares traded. The stock had previously closed at $298.00.

Analyst Ratings Changes

Several analysts have issued reports on the company. Mizuho upped their target price on Essex Property Trust from $285.00 to $308.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 10th. Evercore restated an "outperform" rating and issued a $296.00 price objective on shares of Essex Property Trust in a report on Monday, June 8th. Jefferies Financial Group raised shares of Essex Property Trust to a "hold" rating in a report on Friday, June 26th. Weiss Ratings upgraded shares of Essex Property Trust from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, June 12th. Finally, Wall Street Zen raised shares of Essex Property Trust from a "sell" rating to a "hold" rating in a research note on Saturday. Nine research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Essex Property Trust presently has an average rating of "Hold" and an average price target of $292.08.

Essex Property Trust Trading Up 0.1%

The stock's 50 day moving average is $278.20 and its 200-day moving average is $261.95. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.22. The company has a market cap of $19.16 billion, a P/E ratio of 33.50, a PEG ratio of 12.85 and a beta of 0.70.

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 analysts' consensus estimates of $3.96 by ($2.31). The business had revenue of $484.76 million during the quarter, compared to analysts' expectations 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 last year, the firm posted $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Research analysts anticipate that Essex Property Trust, Inc. will post 16.11 earnings per share for the current fiscal year.

Essex Property Trust Dividend Announcement

The business 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 annualized dividend and a yield of 3.5%. Essex Property Trust's payout ratio is 116.40%.

Insider Buying and Selling at Essex Property Trust

In related news, Director Mary Kasaris sold 600 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $279.45, for a total value of $167,670.00. Following the completion of the transaction, the director owned 2,394 shares of the company's stock, valued at approximately $669,003.30. This represents a 20.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Swiss Life Asset Management Ltd raised its stake in shares of Essex Property Trust by 442.7% in the third quarter. Swiss Life Asset Management Ltd now owns 27,902 shares of the real estate investment trust's stock valued at $7,468,000 after acquiring an additional 22,761 shares during the period. Russell Investments Group Ltd. grew its holdings in Essex Property Trust by 3.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 524,756 shares of the real estate investment trust's stock valued at $140,443,000 after purchasing an additional 15,301 shares during the last quarter. Lighthouse Investment Partners LLC grew its holdings in Essex Property Trust by 393.1% during the 3rd quarter. Lighthouse Investment Partners LLC now owns 69,629 shares of the real estate investment trust's stock valued at $18,637,000 after purchasing an additional 55,508 shares during the last quarter. Vestcor Inc raised its position in Essex Property Trust by 78.6% in the 3rd quarter. Vestcor Inc now owns 28,730 shares of the real estate investment trust's stock worth $7,690,000 after purchasing an additional 12,648 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Essex Property Trust by 2.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 255,533 shares of the real estate investment trust's stock worth $66,868,000 after purchasing an additional 6,422 shares during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

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.

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