Essex Property Trust (NYSE:ESS) Rating Increased to Strong-Buy at Jefferies Financial Group

Essex Property Trust (NYSE:ESS) was upgraded by equities research analysts at Jefferies Financial Group to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. Evercore reiterated an “outperform” rating and set a $296.00 price objective on shares of Essex Property Trust in a research report on Monday, June 8th. Piper Sandler increased their target price on Essex Property Trust from $310.00 to $352.00 and gave the company an “overweight” rating in a report on Tuesday. Weiss Ratings raised Essex Property Trust from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Wells Fargo & Company lifted their price target on Essex Property Trust from $280.00 to $297.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Raymond James Financial raised Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $320.00 price target on the stock in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Essex Property Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $299.08.

Essex Property Trust Stock Performance

Essex Property Trust stock opened at $293.05 on Wednesday. The firm’s 50 day simple moving average is $284.37 and its 200-day simple moving average is $264.49. The company has a market cap of $18.83 billion, a P/E ratio of 32.93, a price-to-earnings-growth ratio of 12.68 and a beta of 0.70. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.98 and a quick ratio of 0.98. Essex Property Trust has a fifty-two week low of $238.46 and a fifty-two week high of $303.35.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings results 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). The firm had revenue of $484.76 million for the quarter, compared to analyst estimates of $479.89 million. Essex Property Trust had a net margin of 30.03% and a return on equity of 10.00%. During the same quarter in the prior year, the firm earned $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. As a group, equities research analysts predict that Essex Property Trust will post 16.11 EPS for the current year.

Insiders Place Their Bets

In other Essex Property Trust news, Director Mary Kasaris sold 600 shares of the stock in a transaction that occurred on 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 in the company, valued at $669,003.30. This represents a 20.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.47% of the company’s stock.

Hedge Funds Weigh In On Essex Property Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Nemes Rush Group LLC acquired a new position in shares of Essex Property Trust in the fourth quarter worth $27,000. Generali Asset Management SPA SGR acquired a new stake in Essex Property Trust during the fourth quarter valued at $29,000. Cassaday & Co Wealth Management LLC purchased a new position in Essex Property Trust in the first quarter valued at about $38,000. Western Wealth Management LLC purchased a new position in Essex Property Trust in the first quarter valued at about $44,000. Finally, Elevation Wealth Partners LLC increased its position in Essex Property Trust by 523.1% in the 2nd quarter. Elevation Wealth Partners LLC now owns 162 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 136 shares during the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

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.