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
Shares of NYSE:ESS opened at $297.13 on Friday. 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 company has a market cap of $19.35 billion, a P/E ratio of 50.28, a P/E/G ratio of 3.18 and a beta of 0.77. The firm's fifty day moving average is $269.70 and its two-hundred day moving average is $305.60. Essex Property Trust has a 52-week low of $250.62 and a 52-week high of $363.36.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on ESS shares. Barclays downgraded shares of Essex Property Trust from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $367.00 to $310.00 in a research report on Tuesday, May 10th. Citigroup raised their target price on shares of Essex Property Trust to $295.00 in a report on Tuesday. Evercore ISI set a $333.00 target price on shares of Essex Property Trust in a report on Monday, June 20th. The Goldman Sachs Group upgraded shares of Essex Property Trust from a "sell" rating to a "buy" rating and dropped their target price for the stock from $352.00 to $338.00 in a report on Tuesday, May 17th. Finally, Raymond James restated an "upgrade" rating and issued a $300.00 target price on shares of Essex Property Trust in a report on Thursday, August 4th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $308.41.