Essex Property Trust (NYSE:ESS) Stock Price Expected to Rise, Evercore ISI Analyst Says

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 - Get Free Report) had its price target upped by Evercore ISI from $279.00 to $283.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's target price indicates a potential upside of 6.48% from the stock's previous close.

Several other research firms have also weighed in on ESS. Barclays dropped their price target on Essex Property Trust from $335.00 to $298.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 12th. Wells Fargo & Company dropped their price target on Essex Property Trust from $325.00 to $279.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 27th. UBS Group dropped their target price on Essex Property Trust from $297.00 to $295.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. BMO Capital Markets upped their target price on Essex Property Trust from $315.00 to $317.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 28th. Finally, Truist Financial dropped their target price on Essex Property Trust from $295.00 to $283.00 and set a "hold" rating on the stock in a research report on Tuesday, August 12th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $298.66.

Essex Property Trust Price Performance

Shares of Essex Property Trust stock traded down $1.30 during trading on Monday, hitting $265.79. The stock had a trading volume of 7,122 shares, compared to its average volume of 477,347. Essex Property Trust has a fifty-two week low of $243.85 and a fifty-two week high of $317.73. The firm has a market cap of $17.12 billion, a P/E ratio of 21.37, a PEG ratio of 6.86 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. The business has a fifty day moving average of $270.54 and a two-hundred day moving average of $280.33.

Essex Property Trust (NYSE:ESS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 EPS for the quarter, beating the consensus estimate of $3.99 by $0.04. The business had revenue of $465.84 million during the quarter, compared to the consensus estimate of $466.47 million. Essex Property Trust had a return on equity of 13.98% and a net margin of 43.51%.During the same period in the prior year, the business 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, sell-side analysts expect that Essex Property Trust will post 15.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Essex Property Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of ESS. Richardson Financial Services Inc. increased its holdings in Essex Property Trust by 300.0% during the 2nd 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 acquired a new stake in shares of Essex Property Trust in the 1st quarter valued at $31,000. Ransom Advisory Ltd acquired a new stake in shares of Essex Property Trust in the 1st quarter valued at $31,000. Zions Bancorporation National Association UT acquired a new stake in shares of Essex Property Trust in the 1st quarter valued at $34,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Essex Property Trust in the 2nd quarter valued at $34,000. 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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