Essex Property Trust (NYSE:ESS) has been assigned a $250.00 price objective by research analysts at Sandler O’Neill in a report released on Friday. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Sandler O’Neill’s price objective would indicate a potential upside of 10.08% from the stock’s current price.

Several other equities research analysts have also issued reports on ESS. Zacks Investment Research raised shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $289.00 target price on the stock in a research note on Tuesday, October 10th. Robert W. Baird reissued a “buy” rating and set a $273.00 target price on shares of Essex Property Trust in a research note on Tuesday, October 17th. Barclays reissued a “buy” rating and set a $283.00 target price on shares of Essex Property Trust in a research note on Thursday, October 19th. Royal Bank of Canada reissued a “buy” rating and set a $276.00 target price on shares of Essex Property Trust in a research note on Friday, October 20th. Finally, SunTrust Banks reissued a “hold” rating and set a $270.00 target price on shares of Essex Property Trust in a research note on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Essex Property Trust has an average rating of “Hold” and a consensus price target of $269.41.

Shares of Essex Property Trust (NYSE ESS) opened at $227.10 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 0.83. Essex Property Trust has a 12 month low of $218.41 and a 12 month high of $270.04. The stock has a market cap of $14,997.00, a PE ratio of 19.41, a PEG ratio of 2.93 and a beta of 0.50.

In related news, insider Craig K. Zimmerman sold 167 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $255.50, for a total value of $42,668.50. Following the transaction, the insider now directly owns 10,450 shares of the company’s stock, valued at approximately $2,669,975. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gary P. Martin sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $255.59, for a total transaction of $255,590.00. Following the completion of the transaction, the director now directly owns 6,236 shares in the company, valued at $1,593,859.24. The disclosure for this sale can be found here. Insiders sold a total of 9,687 shares of company stock worth $2,408,772 over the last ninety days. 3.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of ESS. Janus Henderson Group PLC lifted its stake in Essex Property Trust by 292.6% in the 3rd quarter. Janus Henderson Group PLC now owns 469,858 shares of the real estate investment trust’s stock valued at $119,358,000 after buying an additional 350,192 shares in the last quarter. Koch Industries Inc. purchased a new position in Essex Property Trust in the 2nd quarter valued at about $301,000. Barings LLC purchased a new position in Essex Property Trust in the 3rd quarter valued at about $63,549,000. Canada Pension Plan Investment Board raised its holdings in Essex Property Trust by 7,265.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 184,505 shares of the real estate investment trust’s stock valued at $46,870,000 after acquiring an additional 182,000 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Essex Property Trust by 120.1% in the 2nd quarter. Renaissance Technologies LLC now owns 250,900 shares of the real estate investment trust’s stock valued at $64,549,000 after acquiring an additional 136,900 shares during the last quarter. 97.14% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Essex Property Trust (NYSE:ESS)

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