Essex Property Trust (NYSE:ESS – Get Free Report) had its price objective dropped by research analysts at Truist Financial from $266.00 to $260.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective suggests a potential upside of 4.56% from the stock’s previous close.
A number of other research analysts also recently issued reports on ESS. BMO Capital Markets raised Essex Property Trust from an “underperform” rating to a “market perform” rating and lowered their price target for the company from $235.00 to $225.00 in a report on Thursday, November 9th. Citigroup lowered Essex Property Trust from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $280.00 to $260.00 in a report on Thursday, September 7th. Royal Bank of Canada dropped their target price on Essex Property Trust from $241.00 to $235.00 and set an “outperform” rating on the stock in a research report on Monday, October 30th. Mizuho lowered their price target on Essex Property Trust from $221.00 to $219.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 26th. Finally, Wells Fargo & Company reduced their target price on Essex Property Trust from $247.00 to $244.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Essex Property Trust has a consensus rating of “Hold” and an average price target of $238.00.
Read Our Latest Research Report on ESS
Essex Property Trust Stock Up 4.3 %
ESS stock traded up $10.27 during trading on Thursday, reaching $248.66. The stock had a trading volume of 350,421 shares, compared to its average volume of 441,467. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $15.96 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 2.65 and a beta of 0.79. Essex Property Trust has a one year low of $195.03 and a one year high of $251.48. The company’s 50 day moving average is $215.49 and its two-hundred day moving average is $226.29.
Hedge Funds Weigh In On Essex Property Trust
Several hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC increased its holdings in shares of Essex Property Trust by 100.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 120 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 60 shares in the last quarter. Clear Street Markets LLC lifted its holdings in shares of Essex Property Trust by 89.4% during the first quarter. Clear Street Markets LLC now owns 125 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 59 shares during the last quarter. Pacific Center for Financial Services acquired a new position in shares of Essex Property Trust in the 1st quarter valued at $30,000. CVA Family Office LLC increased its stake in Essex Property Trust by 1,350.0% in the 2nd quarter. CVA Family Office LLC now owns 145 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 135 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in Essex Property Trust in the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 92.93% 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.
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