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.
Analyst Ratings Changes
Several brokerages have recently weighed in on ESS. Piper Sandler decreased their price target on Essex Property Trust from $340.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 20th. Evercore ISI set a $333.00 price objective on shares of Essex Property Trust in a research report on Monday, June 20th. Citigroup upped their price objective on shares of Essex Property Trust to $295.00 in a research report on Tuesday, August 9th. Scotiabank decreased their price objective on shares of Essex Property Trust from $340.00 to $333.00 in a research report on Thursday, May 19th. Finally, Capital One Financial restated an "equal weight" rating on shares of Essex Property Trust in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $308.41.
Essex Property Trust Trading Down 1.1 %
ESS Stock traded down $3.16 on Friday, reaching $290.13. The company's stock had a trading volume of 3,234 shares, compared to its average volume of 392,770. The business has a fifty day simple moving average of $271.27 and a two-hundred day simple moving average of $304.72. Essex Property Trust has a 12-month low of $250.62 and a 12-month high of $363.36. The firm has a market cap of $18.89 billion, a PE ratio of 49.63, a PEG ratio of 3.23 and a beta of 0.77. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.30 and a current ratio of 1.30.