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 ESS Stock opened at $296.99 on Tuesday. The stock has a market cap of $19.34 billion, a P/E ratio of 50.28, a P/E/G ratio of 3.22 and a beta of 0.77. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.30 and a quick ratio of 1.30. The company has a fifty day moving average price of $269.70 and a two-hundred day moving average price of $305.33. Essex Property Trust has a one year low of $250.62 and a one year high of $363.36.
Analyst Ratings Changes
Several equities research analysts have commented on the stock. Citigroup upped their target price on shares of Essex Property Trust to $295.00 in a research note on Tuesday, August 9th. BMO Capital Markets downgraded shares of Essex Property Trust from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $378.00 to $320.00 in a research note on Tuesday, May 31st. Stifel Nicolaus lowered their target price on shares of Essex Property Trust from $390.00 to $352.00 in a research note on Thursday, June 9th. The Goldman Sachs Group raised shares of Essex Property Trust from a "sell" rating to a "buy" rating and lowered their target price for the company from $352.00 to $338.00 in a research note on Tuesday, May 17th. Finally, Jefferies Financial Group reduced their price target on shares of Essex Property Trust from $316.00 to $235.00 and set a "hold" rating for the company in a report on Thursday, June 30th. Three 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $308.41.