Royal Bank Of Canada restated their outperform rating on shares of Essex Property Trust, Inc. (NYSE:ESS) in a report published on Sunday, MarketBeat reports. Royal Bank Of Canada currently has a $276.00 price target on the real estate investment trust’s stock, up from their previous price target of $267.00.

Several other equities analysts also recently commented on ESS. Raymond James Financial, Inc. downgraded Essex Property Trust from an outperform rating to a hold rating and set a $270.00 price objective on the stock. in a research report on Wednesday, August 9th. Mizuho downgraded Essex Property Trust from a buy rating to a neutral rating and set a $283.00 price objective on the stock. in a research report on Monday, July 31st. Canaccord Genuity set a $270.00 price objective on Essex Property Trust and gave the company a hold rating in a research report on Monday, July 31st. BMO Capital Markets set a $255.00 price objective on Essex Property Trust and gave the company a hold rating in a research report on Thursday, May 25th. Finally, Cantor Fitzgerald reaffirmed a buy rating and issued a $269.00 price objective on shares of Essex Property Trust in a research report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $264.15.

Shares of Essex Property Trust (NYSE ESS) opened at 265.08 on Friday. The stock has a market cap of $17.49 billion, a price-to-earnings ratio of 34.09 and a beta of 0.52. Essex Property Trust has a 52 week low of $200.01 and a 52 week high of $268.97. The company has a 50-day moving average price of $260.44 and a 200-day moving average price of $246.50.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $2.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.05. The company had revenue of $339.06 million for the quarter, compared to the consensus estimate of $336.17 million. Essex Property Trust had a return on equity of 8.03% and a net margin of 38.33%. During the same quarter in the prior year, the company posted $2.74 EPS. Equities analysts anticipate that Essex Property Trust will post $5.95 EPS for the current year.

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In other Essex Property Trust news, insider John D. Eudy sold 166 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $253.79, for a total value of $42,129.14. Following the completion of the sale, the insider now directly owns 8,596 shares in the company, valued at approximately $2,181,578.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Irving F. Lyons III sold 1,024 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $254.22, for a total value of $260,321.28. Following the completion of the sale, the director now owns 8,854 shares of the company’s stock, valued at $2,250,863.88. The disclosure for this sale can be found here. Insiders sold a total of 6,690 shares of company stock valued at $1,717,142 over the last quarter. Company insiders own 3.30% of the company’s stock.

Several large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in shares of Essex Property Trust by 145.3% in the second quarter. Tower Research Capital LLC TRC now owns 471 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 279 shares during the period. Sun Life Financial INC boosted its stake in shares of Essex Property Trust by 5,900.0% in the second quarter. Sun Life Financial INC now owns 480 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 472 shares during the period. Muzinich & Co. Inc. boosted its stake in shares of Essex Property Trust by 246.5% in the first quarter. Muzinich & Co. Inc. now owns 551 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 392 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Essex Property Trust by 118.0% in the first quarter. Advisors Asset Management Inc. now owns 654 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 354 shares during the period. Finally, FNY Partners Fund LP bought a new stake in shares of Essex Property Trust during the first quarter worth $165,000. Hedge funds and other institutional investors own 99.74% 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. 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.

Analyst Recommendations for Essex Property Trust (NYSE:ESS)

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