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 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.
Analysts Set New Price Targets
ESS has been the subject of several recent research reports. Mizuho reduced their price target on Essex Property Trust from $342.00 to $273.00 and set a "buy" rating for the company in a research report on Monday, June 27th. Truist Financial dropped their price objective on Essex Property Trust from $323.00 to $299.00 and set a "buy" rating for the company in a research note on Friday, June 24th. Evercore ISI set a $333.00 price objective on Essex Property Trust in a research note on Monday, June 20th. Scotiabank dropped their price objective on Essex Property Trust from $340.00 to $333.00 in a research note on Thursday, May 19th. Finally, KeyCorp dropped their price objective on Essex Property Trust from $371.00 to $314.00 and set an "overweight" rating for the company in a research note on Tuesday, June 28th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $308.41.
Essex Property Trust Stock Up 0.5 %
Shares of ESS traded up $1.55 during mid-day trading on Thursday, reaching $292.75. The company had a trading volume of 392,353 shares, compared to its average volume of 391,109. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a 50-day moving average price of $269.34 and a 200 day moving average price of $306.11. Essex Property Trust has a 52 week low of $250.62 and a 52 week high of $363.36. The company has a market capitalization of $19.07 billion, a price-to-earnings ratio of 49.54, a price-to-earnings-growth ratio of 3.10 and a beta of 0.77.