Essex Property Trust (NYSE:ESS) PT Raised to $260.00

Essex Property Trust (NYSE:ESS) had its price target upped by Evercore ISI from $254.00 to $260.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

ESS has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their target price on Essex Property Trust from $244.00 to $265.00 and gave the stock a neutral rating in a research note on Monday, June 17th. Scotiabank lifted their target price on Essex Property Trust from $283.00 to $285.00 and gave the stock a sector outperform rating in a research note on Friday, June 14th. UBS Group boosted their price objective on Essex Property Trust from $250.00 to $261.00 and gave the company a neutral rating in a research note on Tuesday, May 14th. Truist Financial boosted their price objective on Essex Property Trust from $255.00 to $282.00 and gave the company a hold rating in a research note on Monday, June 24th. Finally, Raymond James upgraded Essex Property Trust from a market perform rating to an outperform rating and set a $265.00 price objective on the stock in a research note on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $261.05.

Essex Property Trust Trading Up 0.7 %

NYSE ESS opened at $278.41 on Tuesday. The stock has a market capitalization of $17.88 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 3.82 and a beta of 0.86. Essex Property Trust has a one year low of $203.85 and a one year high of $284.77. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.19 and a quick ratio of 3.19. The business’s fifty day moving average is $267.69 and its 200-day moving average is $249.40.

Essex Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, June 28th will be issued a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Friday, June 28th. Essex Property Trust’s payout ratio is 119.80%.

Insider Transactions at Essex Property Trust

In other news, CEO Angela L. Kleiman sold 3,780 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $278.27, for a total transaction of $1,051,860.60. Following the completion of the transaction, the chief executive officer now owns 9,494 shares of the company’s stock, valued at $2,641,895.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Essex Property Trust news, Director Keith R. Guericke sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $274.57, for a total value of $2,745,700.00. Following the completion of the sale, the director now owns 16,118 shares of the company’s stock, valued at $4,425,519.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Angela L. Kleiman sold 3,780 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $278.27, for a total value of $1,051,860.60. Following the completion of the sale, the chief executive officer now directly owns 9,494 shares of the company’s stock, valued at approximately $2,641,895.38. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.

Institutional Trading of Essex Property Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cohen & Steers Inc. boosted its stake in Essex Property Trust by 31.2% in the fourth quarter. Cohen & Steers Inc. now owns 3,072,004 shares of the real estate investment trust’s stock worth $761,760,000 after buying an additional 730,141 shares in the last quarter. Norges Bank bought a new stake in Essex Property Trust in the fourth quarter valued at approximately $675,183,000. Price T Rowe Associates Inc. MD lifted its position in Essex Property Trust by 8.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,832,845 shares of the real estate investment trust’s stock valued at $448,701,000 after purchasing an additional 147,130 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Essex Property Trust by 86.5% in the first quarter. Daiwa Securities Group Inc. now owns 997,792 shares of the real estate investment trust’s stock valued at $244,269,000 after purchasing an additional 462,828 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Essex Property Trust by 9.4% in the third quarter. American Century Companies Inc. now owns 828,191 shares of the real estate investment trust’s stock valued at $175,651,000 after purchasing an additional 71,359 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.