Essex Property Trust (NYSE:ESS) PT Raised to $260.00 at Evercore ISI

Essex Property Trust (NYSE:ESSGet Free Report) had its price objective raised by equities research analysts at Evercore ISI from $254.00 to $260.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target would suggest a potential downside of 5.93% from the company’s previous close.

Other analysts have also issued reports about the company. Raymond James raised Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price target on the stock in a research note on Monday, March 18th. Wedbush boosted their target price on shares of Essex Property Trust from $240.00 to $264.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. UBS Group raised their price target on shares of Essex Property Trust from $250.00 to $261.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Truist Financial boosted their price objective on shares of Essex Property Trust from $255.00 to $282.00 and gave the stock a “hold” rating in a research note on Monday, June 24th. Finally, Morgan Stanley raised their target price on Essex Property Trust from $230.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given 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 $261.05.

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Essex Property Trust Stock Up 0.1 %

Shares of ESS opened at $276.38 on Tuesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.19 and a current ratio of 3.19. Essex Property Trust has a 52 week low of $203.85 and a 52 week high of $284.77. The stock has a market capitalization of $17.75 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 3.82 and a beta of 0.86. The stock has a fifty day moving average of $267.12 and a 200-day moving average of $249.19.

Insider Transactions at Essex Property Trust

In other Essex Property Trust news, Director Keith R. Guericke sold 10,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $274.57, for a total transaction of $2,745,700.00. Following the completion of the sale, the director now owns 16,118 shares in the company, valued at approximately $4,425,519.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Essex Property Trust news, CEO Angela L. Kleiman sold 3,780 shares of Essex Property Trust stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $278.27, for a total transaction of $1,051,860.60. Following the completion of the transaction, the chief executive officer now owns 9,494 shares in the company, valued at approximately $2,641,895.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith R. Guericke sold 10,000 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $274.57, for a total value of $2,745,700.00. Following the completion of the sale, the director now directly owns 16,118 shares of the company’s stock, valued at $4,425,519.26. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Essex Property Trust

Several institutional investors have recently bought and sold shares of ESS. CWM LLC lifted its stake in Essex Property Trust by 36.4% during the 2nd quarter. CWM LLC now owns 1,582 shares of the real estate investment trust’s stock valued at $431,000 after acquiring an additional 422 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in Essex Property Trust by 19.3% during the second quarter. Kingswood Wealth Advisors LLC now owns 12,474 shares of the real estate investment trust’s stock worth $3,396,000 after purchasing an additional 2,018 shares during the last quarter. Versant Capital Management Inc increased its stake in Essex Property Trust by 15,050.0% in the 2nd quarter. Versant Capital Management Inc now owns 303 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 301 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Essex Property Trust during the 2nd quarter worth approximately $131,000. Finally, DNB Asset Management AS boosted its stake in shares of Essex Property Trust by 11.2% in the 2nd quarter. DNB Asset Management AS now owns 12,316 shares of the real estate investment trust’s stock worth $3,352,000 after buying an additional 1,238 shares during the last quarter. Institutional investors own 96.51% of the company’s stock.

Essex Property Trust Company Profile

(Get Free Report)

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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.

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Analyst Recommendations for Essex Property Trust (NYSE:ESS)

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