Essex Property Trust Inc (NYSE:ESS) has been given an average rating of “Hold” by the twenty ratings firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $270.36.
ESS has been the topic of a number of analyst reports. BMO Capital Markets reiterated a “hold” rating and issued a $257.00 price target on shares of Essex Property Trust in a research report on Monday, November 27th. Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of Essex Property Trust in a research report on Friday, November 3rd. Morgan Stanley upped their price target on Essex Property Trust from $260.00 to $267.00 and gave the company an “overweight” rating in a research report on Wednesday, August 16th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $276.00 price target (up previously from $267.00) on shares of Essex Property Trust in a research report on Sunday, August 13th. Finally, Zacks Investment Research upgraded Essex Property Trust from a “hold” rating to a “buy” rating and set a $289.00 price target on the stock in a research report on Tuesday, October 10th.
Shares of Essex Property Trust (NYSE:ESS) opened at $241.96 on Thursday. Essex Property Trust has a 52-week low of $213.93 and a 52-week high of $270.04. The company has a market capitalization of $16,046.34, a PE ratio of 20.77, a price-to-earnings-growth ratio of 3.28 and a beta of 0.50. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.83 and a quick ratio of 0.83.
In related news, insider John D. Eudy sold 166 shares of the company’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $257.92, for a total transaction of $42,814.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig K. Zimmerman sold 167 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $267.02, for a total value of $44,592.34. Following the completion of the transaction, the insider now owns 10,450 shares in the company, valued at approximately $2,790,359. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,334 shares of company stock worth $599,759. 3.30% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Essex Property Trust by 0.8% in the second quarter. Vanguard Group Inc. now owns 11,496,906 shares of the real estate investment trust’s stock worth $2,957,809,000 after acquiring an additional 92,531 shares in the last quarter. BlackRock Inc. boosted its holdings in Essex Property Trust by 1.5% in the second quarter. BlackRock Inc. now owns 6,573,361 shares of the real estate investment trust’s stock worth $1,691,128,000 after acquiring an additional 94,331 shares in the last quarter. State Street Corp boosted its holdings in Essex Property Trust by 0.7% in the second quarter. State Street Corp now owns 4,744,926 shares of the real estate investment trust’s stock worth $1,220,731,000 after acquiring an additional 30,726 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Essex Property Trust by 3.6% in the third quarter. Principal Financial Group Inc. now owns 2,328,165 shares of the real estate investment trust’s stock worth $591,424,000 after acquiring an additional 80,573 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Essex Property Trust by 38.3% in the second quarter. Bank of New York Mellon Corp now owns 1,488,052 shares of the real estate investment trust’s stock worth $382,832,000 after acquiring an additional 412,316 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.
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Essex Property Trust Company Profile
Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.
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