Evercore ISI Has Lowered Expectations for Essex Property Trust (NYSE:ESS) Stock Price

Key Points

• Evercore ISI has decreased Essex Property Trust's price target from $283 to $279, maintaining an "in-line" rating on the stock.
• Multiple analysts have downgraded Essex Property Trust, with BNP Paribas Exane lowering its rating to "neutral" and UBS Group decreasing its price target to $295.
• Essex currently has a consensus rating of "Hold" with an average target price of $297.03, reflecting a potential upside of 9.01% from its recent trading price.

Essex Property Trust (NYSE:ESS - Get Free Report) had its price objective decreased by equities researchers at Evercore ISI from $283.00 to $279.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's target price points to a potential upside of 9.01% from the stock's current price.

A number of other research analysts also recently commented on ESS. BNP Paribas Exane downgraded Essex Property Trust from an "outperform" rating to a "neutral" rating in a report on Monday, September 29th. UBS Group decreased their price target on Essex Property Trust from $297.00 to $295.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Morgan Stanley dropped their target price on shares of Essex Property Trust from $304.00 to $285.00 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. Truist Financial decreased their price objective on Essex Property Trust from $295.00 to $283.00 and set a "hold" rating on the stock in a research note on Tuesday, August 12th. Finally, Barclays dropped their price target on shares of Essex Property Trust from $298.00 to $297.00 and set an "equal weight" rating for the company in a research report on Tuesday, September 30th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Essex Property Trust presently has a consensus rating of "Hold" and an average target price of $297.03.

Essex Property Trust Stock Performance

Shares of Essex Property Trust stock opened at $255.94 on Monday. 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 stock has a market capitalization of $16.48 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 6.21 and a beta of 0.81. The business has a 50-day moving average of $263.21 and a 200 day moving average of $275.14. Essex Property Trust has a 12 month low of $243.85 and a 12 month high of $316.29.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its quarterly earnings data 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. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. The business had revenue of $465.84 million during the quarter, compared to analyst estimates of $466.47 million. During the same quarter last year, the firm 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. As a group, sell-side analysts forecast that Essex Property Trust will post 15.96 earnings per share for the current year.

Institutional Investors Weigh In On Essex Property Trust

A number of institutional investors have recently modified their holdings of ESS. QRG Capital Management Inc. bought a new position in shares of Essex Property Trust in the first quarter valued at approximately $653,000. CWA Asset Management Group LLC boosted its stake in shares of Essex Property Trust by 10.0% in the 1st quarter. CWA Asset Management Group LLC now owns 883 shares of the real estate investment trust's stock valued at $271,000 after purchasing an additional 80 shares during the last quarter. Intact Investment Management Inc. bought a new stake in shares of Essex Property Trust in the 1st quarter valued at about $705,000. Asset Management One Co. Ltd. raised its stake in Essex Property Trust by 1.2% during the 1st quarter. Asset Management One Co. Ltd. now owns 133,886 shares of the real estate investment trust's stock worth $41,045,000 after buying an additional 1,569 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Essex Property Trust in the first quarter valued at approximately $569,000. Institutional investors and hedge funds own 96.51% of the company's stock.

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.

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