Scotiabank Lowers Essex Property Trust (NYSE:ESS) Price Target to $293.00

Essex Property Trust (NYSE:ESS) had its price target lowered by equities researchers at Scotiabank from $307.00 to $293.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price target suggests a potential upside of 7.66% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Sanford C. Bernstein initiated coverage on shares of Essex Property Trust in a research report on Friday, June 26th. They set an “outperform” rating and a $320.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Essex Property Trust from $275.00 to $295.00 and gave the stock an “underweight” rating in a report on Friday, August 14th. Evercore reaffirmed an “outperform” rating and set a $303.00 price target on shares of Essex Property Trust in a research report on Thursday, July 30th. Stifel Nicolaus set a $292.75 price objective on Essex Property Trust in a report on Thursday, July 30th. Finally, Raymond James Financial raised Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $320.00 price objective for the company in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $303.24.

Essex Property Trust Stock Up 0.3%

Essex Property Trust stock traded up $0.82 during trading hours on Thursday, reaching $272.17. The stock had a trading volume of 53,386 shares, compared to its average volume of 499,527. The company has a market cap of $17.49 billion, a price-to-earnings ratio of 42.33, a PEG ratio of 10.09 and a beta of 0.69. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.60 and a quick ratio of 0.60. The business’s 50 day moving average price is $286.03 and its 200-day moving average price is $272.86. Essex Property Trust has a 52 week low of $238.46 and a 52 week high of $303.35.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.08 EPS for the quarter, beating the consensus estimate of $1.46 by $2.62. Essex Property Trust had a net margin of 21.48% and a return on equity of 7.33%. The business had revenue of $489.05 million during the quarter, compared to analyst estimates of $485.12 million. During the same period in the prior year, the firm posted $4.03 earnings per share. Essex Property Trust has set its Q3 2026 guidance at 3.930-4.050 EPS and its FY 2026 guidance at 16.030-16.250 EPS. Sell-side analysts anticipate that Essex Property Trust will post 16.18 EPS for the current year.

Institutional Investors Weigh In On Essex Property Trust

A number of large investors have recently bought and sold shares of ESS. Nemes Rush Group LLC purchased a new stake in Essex Property Trust in the 4th quarter worth $27,000. Cassaday & Co Wealth Management LLC purchased a new position in Essex Property Trust in the 1st quarter worth approximately $38,000. Elevation Wealth Partners LLC boosted its stake in Essex Property Trust by 523.1% during the second quarter. Elevation Wealth Partners LLC now owns 162 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 136 shares during the last quarter. Western Wealth Management LLC purchased a new stake in shares of Essex Property Trust in the 1st quarter valued at approximately $44,000. Finally, Hantz Financial Services Inc. grew its holdings in shares of Essex Property Trust by 67.8% during the 4th quarter. Hantz Financial Services Inc. now owns 193 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 78 shares during the period. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Essex Property Trust Company Profile

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust that owns, operates, develops and redevelops multifamily residential communities. Its portfolio primarily consists of apartment homes, supported by property management, maintenance and resident services.

The company focuses on high-demand coastal markets on the West Coast, particularly Northern and Southern California and the Seattle metropolitan area in Washington. Essex’s properties are generally located near employment centers, transportation networks and other amenities, serving renters in major urban and suburban communities.

Founded in 1971, Essex Property Trust became a publicly traded real estate investment trust in 1994.