Brokerages Set Essex Property Trust, Inc. (NYSE:ESS) Target Price at $245.37

Shares of Essex Property Trust, Inc. (NYSE:ESS - Get Free Report) have been assigned a consensus recommendation of "Hold" from the eighteen brokerages that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $245.37.

ESS has been the subject of a number of research reports. Jefferies Financial Group upgraded shares of Essex Property Trust from a "hold" rating to a "buy" rating and boosted their target price for the company from $215.00 to $281.00 in a research report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Essex Property Trust in a research report on Tuesday, January 30th. They set a "hold" rating and a $240.00 price objective for the company. Mizuho upgraded shares of Essex Property Trust from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $255.00 to $250.00 in a report on Wednesday, February 28th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $227.00 target price on shares of Essex Property Trust in a research report on Thursday, February 22nd. Finally, Truist Financial lowered their target price on shares of Essex Property Trust from $259.00 to $255.00 and set a "hold" rating on the stock in a report on Tuesday, April 9th.

Essex Property Trust Stock Up 0.5 %

NYSE:ESS traded up $1.20 during trading hours on Friday, reaching $235.17. The company's stock had a trading volume of 335,748 shares, compared to its average volume of 396,329. The stock has a 50 day moving average price of $237.40 and a two-hundred day moving average price of $230.69. The company has a debt-to-equity ratio of 1.11, a quick ratio of 3.26 and a current ratio of 3.26. Essex Property Trust has a 12 month low of $203.85 and a 12 month high of $252.85. The company has a market capitalization of $15.10 billion, a P/E ratio of 37.27, a price-to-earnings-growth ratio of 3.43 and a beta of 0.80.

Essex Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a $2.45 dividend. The ex-dividend date was Wednesday, March 27th. This is a boost from Essex Property Trust's previous quarterly dividend of $2.31. This represents a $9.80 dividend on an annualized basis and a dividend yield of 4.17%. Essex Property Trust's dividend payout ratio is 155.31%.

Institutional Trading of Essex Property Trust

Large investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC boosted its holdings in shares of Essex Property Trust by 100.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 120 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 60 shares during the last quarter. Clear Street Markets LLC bought a new position in shares of Essex Property Trust in the fourth quarter worth $25,000. Lindbrook Capital LLC increased its position in shares of Essex Property Trust by 111.5% in the fourth quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 58 shares during the period. Pacific Center for Financial Services bought a new position in shares of Essex Property Trust in the first quarter worth $30,000. Finally, Advisory Services Network LLC acquired a new stake in Essex Property Trust in the first quarter valued at about $32,000. 96.51% of the stock is owned by institutional investors.

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.