Essex Property Trust (NYSE:ESS) Stock Rating Upgraded by Jefferies Financial Group

Key Points

• Jefferies upgraded Essex Property Trust from hold to strong-buy, adding to a generally positive analyst backdrop for the stock.
• Other firms have also been raising price targets, including Scotiabank, Wells Fargo, Cantor Fitzgerald, and Sanford C. Bernstein. MarketBeat shows the stock’s consensus rating is Moderate Buy with an average target price of $294.08.
• Essex shares were trading around $298.12, near their 52-week high of $303.35. The company most recently missed EPS estimates in its April quarter, though revenue came in slightly above expectations.

Essex Property Trust (NYSE:ESS - Get Free Report) was upgraded by Jefferies Financial Group from a "hold" rating to a "strong-buy" rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other analysts have also recently issued reports on the company. Scotiabank raised their target price on Essex Property Trust from $290.00 to $307.00 and gave the stock an "outperform" rating in a research note on Thursday, July 9th. Wells Fargo & Company increased their price objective on Essex Property Trust from $262.00 to $280.00 and gave the stock an "equal weight" rating in a report on Monday, June 1st. Cantor Fitzgerald lifted their price objective on Essex Property Trust from $290.00 to $291.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. Stifel Nicolaus boosted their target price on Essex Property Trust from $278.00 to $281.50 and gave the company a "hold" rating in a research note on Wednesday, April 29th. Finally, Sanford C. Bernstein initiated coverage on Essex Property Trust in a report on Friday, June 26th. They set an "outperform" rating and a $320.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Essex Property Trust has a consensus rating of "Moderate Buy" and an average target price of $294.08.

Essex Property Trust Stock Up 0.2%

Shares of NYSE ESS opened at $298.12 on Tuesday. The company has a market cap of $19.16 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 12.83 and a beta of 0.70. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.22. The firm's fifty day moving average is $281.22 and its 200 day moving average is $263.15. Essex Property Trust has a 52 week low of $238.46 and a 52 week high of $303.35.

Essex Property Trust (NYSE:ESS - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.96 by ($2.31). The firm had revenue of $484.76 million during the quarter, compared to analysts' expectations of $479.89 million. Essex Property Trust had a net margin of 30.03% and a return on equity of 10.00%. During the same quarter in the previous year, the firm posted $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. On average, equities research analysts expect that Essex Property Trust will post 16.11 earnings per share for the current year.

Insider Activity at Essex Property Trust

In other news, Director Mary Kasaris sold 600 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $279.45, for a total value of $167,670.00. Following the sale, the director directly owned 2,394 shares of the company's stock, valued at $669,003.30. This represents a 20.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.47% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ESS. Woodline Partners LP bought a new position in shares of Essex Property Trust during the first quarter valued at approximately $1,664,000. Focus Partners Wealth bought a new stake in shares of Essex Property Trust in the 1st quarter worth approximately $223,000. EverSource Wealth Advisors LLC grew its stake in shares of Essex Property Trust by 70.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 279 shares of the real estate investment trust's stock worth $79,000 after buying an additional 115 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Essex Property Trust by 186.2% in the 2nd quarter. First Trust Advisors LP now owns 33,614 shares of the real estate investment trust's stock worth $9,526,000 after buying an additional 21,871 shares during the last quarter. Finally, Bank of Nova Scotia increased its position in Essex Property Trust by 10.9% during the 2nd quarter. Bank of Nova Scotia now owns 8,274 shares of the real estate investment trust's stock valued at $2,345,000 after buying an additional 811 shares in the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

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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