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 Stock Performance
NYSE:ESS opened at $297.13 on Monday. The business's 50-day moving average price is $269.70 and its two-hundred day moving average price is $305.44. The stock has a market cap of $19.35 billion, a P/E ratio of 50.28, a PEG ratio of 3.22 and a beta of 0.77. Essex Property Trust has a twelve month low of $250.62 and a twelve month high of $363.36. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.00.
Analysts Set New Price Targets
Several analysts have commented on the stock. Barclays cut shares of Essex Property Trust from an "equal weight" rating to an "underweight" rating and dropped their target price for the company from $367.00 to $310.00 in a research report on Tuesday, May 10th. BMO Capital Markets lowered Essex Property Trust from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $378.00 to $320.00 in a research report on Tuesday, May 31st. The Goldman Sachs Group raised shares of Essex Property Trust from a "sell" rating to a "buy" rating and decreased their price objective for the company from $352.00 to $338.00 in a research report on Tuesday, May 17th. Raymond James reissued an "upgrade" rating and issued a $300.00 price objective on shares of Essex Property Trust in a research report on Thursday, August 4th. Finally, TheStreet lowered Essex Property Trust from a "b-" rating to a "c+" rating in a research note on Friday, May 13th. Three investment 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. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $308.41.