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.
Essex Property Trust Price Performance
Essex Property Trust stock traded up $2.08 during midday trading on Monday, reaching $280.83. 295,218 shares of the stock were exchanged, compared to its average volume of 391,254. The company's fifty day moving average is $269.12 and its 200-day moving average is $306.35. 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 market cap of $18.29 billion, a PE ratio of 47.52, a PEG ratio of 3.20 and a beta of 0.77. Essex Property Trust has a 52 week low of $250.62 and a 52 week high of $363.36.
Essex Property Trust Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Wednesday, June 29th. Essex Property Trust's dividend payout ratio (DPR) is presently 148.90%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on ESS. Piper Sandler cut their price target on shares of Essex Property Trust from $340.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, July 20th. KeyCorp lowered their price objective on shares of Essex Property Trust from $371.00 to $314.00 and set an "overweight" rating on the stock in a research report on Tuesday, June 28th. Jefferies Financial Group lowered their price objective on shares of Essex Property Trust from $316.00 to $235.00 and set a "hold" rating on the stock in a research report on Thursday, June 30th. Scotiabank lowered their price objective on shares of Essex Property Trust from $340.00 to $333.00 in a research report on Thursday, May 19th. Finally, Stifel Nicolaus lowered their price objective on shares of Essex Property Trust from $390.00 to $352.00 in a research report on Thursday, June 9th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $312.82.