Essex Property Trust (NYSE:ESS) Hits New 12-Month High Following Analyst Upgrade

Essex Property Trust, Inc. (NYSE:ESS)’s stock price hit a new 52-week high on Friday after Jefferies Financial Group upgraded the stock to a hold rating. The stock traded as high as $294.15 and last traded at $295.3830, with a volume of 273980 shares traded. The stock had previously closed at $285.57.

Other analysts have also recently issued research reports about the stock. Raymond James Financial raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $320.00 target price for the company in a research note on Friday. Scotiabank reiterated an “outperform” rating on shares of Essex Property Trust in a report on Thursday, June 18th. Truist Financial lifted their price objective on Essex Property Trust from $273.00 to $286.00 and gave the stock a “hold” rating in a report on Wednesday, May 27th. Evercore reiterated an “outperform” rating and set a $296.00 price objective on shares of Essex Property Trust in a research note on Monday, June 8th. Finally, Morgan Stanley increased their target price on Essex Property Trust from $293.00 to $302.00 and gave the company an “equal weight” rating in a report on Thursday. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $292.08.

Insider Buying and Selling at Essex Property Trust

In related news, Director Mary Kasaris sold 600 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $279.45, for a total value of $167,670.00. Following the completion of the sale, the director owned 2,394 shares of the company’s stock, valued at approximately $669,003.30. This represents a 20.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 3.47% of the company’s stock.

Hedge Funds Weigh In On Essex Property Trust

Several institutional investors and hedge funds have recently bought and sold shares of the company. Woodline Partners LP acquired a new position in Essex Property Trust in the first quarter valued at approximately $1,664,000. Focus Partners Wealth acquired a new stake in Essex Property Trust during the first quarter worth $223,000. EverSource Wealth Advisors LLC raised its position in Essex Property Trust by 70.1% in the second quarter. EverSource Wealth Advisors LLC now owns 279 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 115 shares during the period. First Trust Advisors LP raised its position in Essex Property Trust by 186.2% in the second quarter. First Trust Advisors LP now owns 33,614 shares of the real estate investment trust’s stock valued at $9,526,000 after purchasing an additional 21,871 shares during the period. Finally, Bank of Nova Scotia lifted its stake in shares of Essex Property Trust by 10.9% in the 2nd quarter. Bank of Nova Scotia now owns 8,274 shares of the real estate investment trust’s stock valued at $2,345,000 after purchasing an additional 811 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Essex Property Trust Trading Up 3.4%

The firm has a market capitalization of $18.98 billion, a PE ratio of 33.19, a PEG ratio of 12.75 and a beta of 0.72. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.22. The business has a fifty day moving average price of $272.25 and a two-hundred day moving average price of $259.96.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($2.31). Essex Property Trust had a return on equity of 10.00% and a net margin of 30.03%.The business had revenue of $484.76 million for the quarter, compared to analyst estimates of $479.89 million. During the same period in the previous year, the business posted $3.97 earnings per share. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Analysts expect that Essex Property Trust, Inc. will post 16.12 EPS for the current fiscal year.

Essex Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $2.59 dividend. This represents a $10.36 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, June 30th. Essex Property Trust’s dividend payout ratio is currently 116.40%.

Essex Property Trust Company Profile

Essex Property Trust, Inc (NYSE: ESS) is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.