Essex Property Trust (NYSE:ESS) was downgraded by stock analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued on Friday, The Fly reports.

A number of other brokerages have also issued reports on ESS. Barclays reiterated a “buy” rating and issued a $283.00 target price on shares of Essex Property Trust in a research report on Thursday, October 19th. Zacks Investment Research lowered shares of Essex Property Trust from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Robert W. Baird reiterated a “buy” rating and issued a $273.00 target price on shares of Essex Property Trust in a research report on Tuesday, October 17th. Royal Bank of Canada reiterated a “buy” rating and issued a $276.00 target price on shares of Essex Property Trust in a research report on Friday, October 20th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $279.00 target price on shares of Essex Property Trust in a research report on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $269.41.

Essex Property Trust (ESS) opened at $224.60 on Friday. The stock has a market cap of $15,014.18, a PE ratio of 28.11, a P/E/G ratio of 2.94 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. Essex Property Trust has a 12-month low of $218.41 and a 12-month high of $270.04.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.96 by ($1.74). Essex Property Trust had a net margin of 38.95% and a return on equity of 8.19%. equities analysts forecast that Essex Property Trust will post 11.89 earnings per share for the current fiscal year.

In other Essex Property Trust news, CFO Angela L. Kleiman sold 600 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $247.16, for a total value of $148,296.00. Following the completion of the transaction, the chief financial officer now directly owns 7,777 shares in the company, valued at $1,922,163.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gary P. Martin sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was 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 owns 6,236 shares of the company’s stock, valued at $1,593,859.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,687 shares of company stock valued at $2,408,772. Corporate insiders own 3.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in ESS. Franklin Resources Inc. boosted its holdings in shares of Essex Property Trust by 14.9% in the second quarter. Franklin Resources Inc. now owns 43,904 shares of the real estate investment trust’s stock worth $11,295,000 after buying an additional 5,691 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Essex Property Trust by 23.3% in the second quarter. Wells Fargo & Company MN now owns 47,297 shares of the real estate investment trust’s stock worth $12,168,000 after buying an additional 8,930 shares during the period. AXA purchased a new stake in shares of Essex Property Trust in the second quarter worth approximately $231,000. Laurion Capital Management LP purchased a new stake in shares of Essex Property Trust in the second quarter worth approximately $257,000. Finally, Profund Advisors LLC lifted its position in shares of Essex Property Trust by 19.6% in the second quarter. Profund Advisors LLC now owns 4,049 shares of the real estate investment trust’s stock worth $1,042,000 after purchasing an additional 663 shares in the last quarter. Institutional investors own 97.15% of the company’s stock.

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About Essex Property Trust

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.

The Fly

Analyst Recommendations for Essex Property Trust (NYSE:ESS)

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