Evercore ISI Boosts Essex Property Trust (NYSE:ESS) Price Target to $283.00

Key Points

• Evercore ISI raised its price target for Essex Property Trust from $279.00 to $283.00, indicating a potential upside of 6.48% from the stock's previous close.
• Despite some mixed ratings from other research firms, the consensus rating for Essex Property Trust remains at "Hold" with an average price target of $298.66.
• The company reported $4.03 EPS for the last quarter, beating the consensus estimate, and anticipates FY 2025 earnings of 15.800-16.020 EPS.

Essex Property Trust (NYSE:ESS - Free Report) had its price target upped by Evercore ISI from $279.00 to $283.00 in a research report released on Monday,Benzinga reports. They currently have an in-line rating on the real estate investment trust's stock.

Other analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Essex Property Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada boosted their price target on shares of Essex Property Trust from $306.00 to $307.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Scotiabank decreased their price target on shares of Essex Property Trust from $320.00 to $309.00 and set a "sector outperform" rating for the company in a research note on Tuesday, August 5th. Stifel Nicolaus boosted their price target on shares of Essex Property Trust from $301.50 to $305.50 and gave the company a "hold" rating in a research note on Wednesday, July 30th. Finally, Piper Sandler lowered 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 note on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Essex Property Trust currently has an average rating of "Hold" and an average target price of $298.66.

Essex Property Trust Trading Up 0.0%

Shares of NYSE:ESS traded up $0.04 during mid-day trading on Monday, hitting $268.67. The company had a trading volume of 203,610 shares, compared to its average volume of 478,927. The firm has a fifty day moving average price of $269.00 and a 200 day moving average price of $279.49. The company has a market capitalization of $17.30 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 6.84 and a beta of 0.83. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.09. Essex Property Trust has a one year low of $243.85 and a one year high of $316.29.

Essex Property Trust (NYSE:ESS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share for the quarter, beating the consensus estimate of $3.99 by $0.04. The company had revenue of $465.84 million during 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 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. As a group, research analysts forecast that Essex Property Trust will post 15.96 EPS for the current year.

Essex Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $2.57 dividend. This represents a $10.28 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 30th. Essex Property Trust's dividend payout ratio is presently 82.64%.

Institutional Investors Weigh In On Essex Property Trust

A number of institutional investors and hedge funds have recently bought and sold shares of ESS. Richardson Financial Services Inc. raised its stake in Essex Property Trust by 300.0% in the second quarter. Richardson Financial Services Inc. now owns 100 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 75 shares in the last quarter. WPG Advisers LLC bought a new position in Essex Property Trust during the first quarter valued at approximately $31,000. Ransom Advisory Ltd bought a new position in Essex Property Trust during the first quarter valued at approximately $31,000. Zions Bancorporation National Association UT bought a new position in Essex Property Trust during the first quarter valued at approximately $34,000. Finally, Princeton Global Asset Management LLC bought a new position in Essex Property Trust during the second quarter valued at approximately $34,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Essex Property Trust Company Profile

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.