Essex Property Trust, Inc. (NYSE:ESS) Receives $297.17 Average PT from Analysts

Shares of Essex Property Trust, Inc. (NYSE:ESS) have earned an average rating of “Hold” from the eighteen research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $297.10.

Several research analysts recently issued reports on the stock. Morgan Stanley cut their price target on shares of Essex Property Trust from $304.00 to $285.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Truist Financial dropped their target price on shares of Essex Property Trust from $295.00 to $283.00 and set a “hold” rating for the company in a report on Tuesday, August 12th. Evercore ISI increased their target price on shares of Essex Property Trust from $279.00 to $283.00 and gave the company an “in-line” rating in a report on Monday, September 15th. Raymond James Financial raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $315.00 target price for the company in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada increased their target price on shares of Essex Property Trust from $306.00 to $307.00 and gave the company an “outperform” rating in a report on Thursday, July 31st.

Essex Property Trust Trading Up 0.6%

NYSE ESS opened at $267.93 on Friday. The stock has a market capitalization of $17.25 billion, a P/E ratio of 21.54, a P/E/G ratio of 6.78 and a beta of 0.83. Essex Property Trust has a 52-week low of $243.85 and a 52-week high of $316.29. The firm has a 50-day moving average price of $265.85 and a 200 day moving average price of $277.56. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.16.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $4.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.99 by $0.04. The firm had revenue of $465.84 million during the quarter, compared to analysts’ expectations of $466.47 million. Essex Property Trust had a net margin of 43.51% and a return on equity of 13.98%. During the same period in the prior year, the company posted $3.94 earnings per share. Essex Property Trust has set its Q3 2025 guidance at 3.890-3.990 EPS. FY 2025 guidance at 15.800-16.020 EPS. Equities research analysts expect that Essex Property Trust will post 15.96 EPS for the current year.

Essex Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $2.57 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $10.28 dividend on an annualized basis and a yield of 3.8%. Essex Property Trust’s dividend payout ratio (DPR) is 82.64%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. increased its holdings in Essex Property Trust by 300.0% in the second quarter. Richardson Financial Services Inc. now owns 100 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 75 shares in the last quarter. WPG Advisers LLC acquired a new stake in shares of Essex Property Trust in the first quarter valued at approximately $31,000. Ransom Advisory Ltd acquired a new stake in shares of Essex Property Trust in the first quarter valued at approximately $31,000. Zions Bancorporation National Association UT acquired a new stake in shares of Essex Property Trust in the first quarter valued at approximately $34,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Essex Property Trust in the second quarter valued at approximately $34,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

About Essex Property Trust

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.