Essex Property Trust (NYSE:ESS) Price Target Increased to $311.00 by Analysts at KeyCorp

Essex Property Trust (NYSE:ESS) had its price target increased by KeyCorp from $301.00 to $311.00 in a research note issued to investors on Wednesday, The Fly reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of G1 Therapeutics from a buy rating to a hold rating in a research note on Thursday, May 16th. BMO Capital Markets reaffirmed a hold rating and issued a $54.00 target price on shares of Apartment Investment and Management in a research note on Monday, March 25th. BTIG Research lifted their target price on shares of Talend to $62.00 and gave the stock a buy rating in a research note on Monday, March 25th. They noted that the move was a valuation call. Barclays set a €45.00 ($52.33) target price on shares of Zalando and gave the stock a buy rating in a research note on Tuesday, April 16th. Finally, Robert W. Baird downgraded shares of Essex Property Trust from an outperform rating to a neutral rating and lifted their target price for the stock from $297.00 to $302.00 in a research note on Tuesday, June 18th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $286.37.

Shares of NYSE ESS opened at $303.95 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.91. Essex Property Trust has a 52 week low of $227.05 and a 52 week high of $308.73. The business has a fifty day moving average price of $296.35. The stock has a market capitalization of $19.97 billion, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 4.08 and a beta of 0.36.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Wednesday, April 24th. The real estate investment trust reported $3.23 EPS for the quarter, topping the consensus estimate of $3.19 by $0.04. Essex Property Trust had a net margin of 29.67% and a return on equity of 6.50%. The company had revenue of $356.22 million for the quarter, compared to the consensus estimate of $353.55 million. During the same period in the previous year, the firm earned $3.09 earnings per share. As a group, equities analysts predict that Essex Property Trust will post 13.13 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Thursday, June 27th. Essex Property Trust’s payout ratio is currently 62.05%.

Institutional investors have recently modified their holdings of the business. Front Row Advisors LLC increased its position in Essex Property Trust by 1,055.6% during the 1st quarter. Front Row Advisors LLC now owns 104 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 95 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in Essex Property Trust during the 1st quarter valued at $32,000. Zions Bancorporation N.A. purchased a new position in Essex Property Trust during the 1st quarter valued at $33,000. Dubuque Bank & Trust Co. purchased a new position in Essex Property Trust during the 1st quarter valued at $33,000. Finally, Pearl River Capital LLC bought a new stake in shares of Essex Property Trust during the 1st quarter valued at $38,000. 97.66% of the stock is currently owned by institutional investors and hedge funds.

Essex Property Trust Company Profile

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 245 apartment communities with an additional 6 properties in various stages of active development.

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Analyst Recommendations for Essex Property Trust (NYSE:ESS)

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