Essex Property Trust (NYSE:ESS) Upgraded to "Hold" at StockNews.com

Essex Property Trust (NYSE:ESS - Get Free Report) was upgraded by stock analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Wednesday.

Several other research firms have also weighed in on ESS. Piper Sandler reiterated an "overweight" rating and issued a $291.00 target price on shares of Essex Property Trust in a report on Tuesday, March 26th. Bank of America upgraded Essex Property Trust from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $250.00 to $275.00 in a report on Monday, April 1st. Jefferies Financial Group upgraded Essex Property Trust from a "hold" rating to a "buy" rating and increased their price target for the stock from $215.00 to $281.00 in a report on Tuesday, January 2nd. Royal Bank of Canada boosted their price objective on Essex Property Trust from $237.00 to $239.00 and gave the company an "outperform" rating in a research report on Thursday, February 8th. Finally, Wedbush reissued a "neutral" rating and set a $240.00 target price on shares of Essex Property Trust in a research note on Monday. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $247.24.

Essex Property Trust Trading Down 0.4 %

Shares of Essex Property Trust stock traded down $1.00 during trading on Wednesday, hitting $245.25. 714,559 shares of the company were exchanged, compared to its average volume of 404,435. The company has a debt-to-equity ratio of 1.11, a current ratio of 3.26 and a quick ratio of 3.26. The firm has a market capitalization of $15.75 billion, a P/E ratio of 38.87, a price-to-earnings-growth ratio of 3.66 and a beta of 0.80. The firm's fifty day moving average price is $239.53 and its 200 day moving average price is $232.44. Essex Property Trust has a 1-year low of $203.85 and a 1-year high of $252.85.

Hedge Funds Weigh In On Essex Property Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC increased its position in Essex Property Trust by 111.5% during the fourth quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust's stock worth $27,000 after buying an additional 58 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Essex Property Trust by 112.3% during the 1st quarter. Venturi Wealth Management LLC now owns 138 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 73 shares during the last quarter. Vima LLC acquired a new stake in Essex Property Trust during the 4th quarter valued at $40,000. Bruce G. Allen Investments LLC bought a new position in Essex Property Trust during the fourth quarter worth $41,000. Finally, Bear Mountain Capital Inc. acquired a new position in shares of Essex Property Trust in the fourth quarter valued at $55,000. 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.

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