Royal Bank of Canada reissued their buy rating on shares of Essex Property Trust (NYSE:ESS) in a research report sent to investors on Thursday. They currently have a $269.00 target price on the real estate investment trust’s stock.

A number of other analysts also recently commented on ESS. ValuEngine downgraded Essex Property Trust from a hold rating to a sell rating in a research note on Thursday, May 17th. Bank of America boosted their price objective on Essex Property Trust from $276.00 to $277.00 and gave the stock a buy rating in a research note on Friday, June 8th. Morgan Stanley dropped their price objective on Essex Property Trust from $267.00 to $260.00 and set an overweight rating on the stock in a research note on Thursday, June 14th. Barclays dropped their price objective on Essex Property Trust from $272.00 to $269.00 and set an overweight rating on the stock in a research note on Tuesday, July 17th. Finally, Raymond James raised Essex Property Trust from an underperform rating to a market perform rating in a research note on Monday, July 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. Essex Property Trust currently has a consensus rating of Buy and a consensus price target of $264.44.

Shares of Essex Property Trust stock opened at $245.29 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market cap of $16.30 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 3.22 and a beta of 0.39. Essex Property Trust has a 1-year low of $214.03 and a 1-year high of $270.04.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Wednesday, August 1st. The real estate investment trust reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.04. The firm had revenue of $348.72 million for the quarter, compared to the consensus estimate of $348.58 million. Essex Property Trust had a return on equity of 5.52% and a net margin of 27.05%. During the same quarter in the previous year, the business earned $2.97 EPS. research analysts forecast that Essex Property Trust will post 12.55 EPS for the current fiscal year.

In other news, insider Angela L. Kleiman sold 750 shares of the business’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $240.80, for a total transaction of $180,600.00. Following the sale, the insider now directly owns 9,149 shares of the company’s stock, valued at $2,203,079.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Bbva Compass Bancshares Inc. grew its holdings in shares of Essex Property Trust by 20.7% during the second quarter. Bbva Compass Bancshares Inc. now owns 1,354 shares of the real estate investment trust’s stock valued at $324,000 after buying an additional 232 shares in the last quarter. Riverhead Capital Management LLC grew its holdings in shares of Essex Property Trust by 7.3% during the first quarter. Riverhead Capital Management LLC now owns 3,666 shares of the real estate investment trust’s stock valued at $882,000 after buying an additional 250 shares in the last quarter. Global X Management Co. LLC grew its holdings in shares of Essex Property Trust by 9.6% during the first quarter. Global X Management Co. LLC now owns 2,925 shares of the real estate investment trust’s stock valued at $704,000 after buying an additional 257 shares in the last quarter. GWM Advisors LLC grew its holdings in shares of Essex Property Trust by 18.5% during the first quarter. GWM Advisors LLC now owns 1,687 shares of the real estate investment trust’s stock valued at $400,000 after buying an additional 263 shares in the last quarter. Finally, Glen Harbor Capital Management LLC grew its holdings in shares of Essex Property Trust by 7.5% during the first quarter. Glen Harbor Capital Management LLC now owns 4,032 shares of the real estate investment trust’s stock valued at $970,000 after buying an additional 280 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors.

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. The Company currently has ownership interests in 247 apartment communities comprising approximately 60,000 apartment homes, excluding six properties in various stages of active development, one commercial building, preferred equity co-investments, and loan investments.

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Analyst Recommendations for Essex Property Trust (NYSE:ESS)

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