Essex Property Trust (NYSE:ESS) Upgraded to Strong-Buy at Jefferies Financial Group

Essex Property Trust (NYSE:ESS) was upgraded by investment analysts at Jefferies Financial Group from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the stock. Morgan Stanley increased their price target on shares of Essex Property Trust from $293.00 to $302.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. Cantor Fitzgerald boosted their price objective on shares of Essex Property Trust from $290.00 to $291.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Piper Sandler raised Essex Property Trust from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $275.00 to $310.00 in a research report on Monday, May 4th. Weiss Ratings upgraded Essex Property Trust from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. Finally, Barclays lifted their target price on Essex Property Trust from $277.00 to $296.00 and gave the stock an “equal weight” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Essex Property Trust has a consensus rating of “Moderate Buy” and a consensus price target of $294.08.

Essex Property Trust Stock Performance

Shares of Essex Property Trust stock opened at $298.12 on Tuesday. Essex Property Trust has a 1 year low of $238.46 and a 1 year high of $303.35. The firm’s 50-day moving average is $281.22 and its 200 day moving average is $263.15. The stock has a market cap of $19.16 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 12.83 and a beta of 0.70. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.98 and a quick ratio of 0.98.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $3.96 by ($2.31). The firm had revenue of $484.76 million for the quarter, compared to the consensus estimate of $479.89 million. Essex Property Trust had a net margin of 30.03% and a return on equity of 10.00%. During the same quarter in the prior year, the business posted $3.97 earnings per share. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Sell-side analysts anticipate that Essex Property Trust will post 16.11 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mary Kasaris sold 600 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $279.45, for a total transaction of $167,670.00. Following the transaction, the director owned 2,394 shares in the company, valued at $669,003.30. This represents a 20.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Essex Property Trust

A number of large investors have recently added to or reduced their stakes in ESS. Nemes Rush Group LLC bought a new position in shares of Essex Property Trust during the 4th quarter valued at $27,000. Generali Asset Management SPA SGR purchased a new position in shares of Essex Property Trust in the 4th quarter worth $29,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Essex Property Trust in the first quarter worth $38,000. Western Wealth Management LLC purchased a new stake in Essex Property Trust during the first quarter valued at $44,000. Finally, True Wealth Design LLC increased its position in Essex Property Trust by 120.0% during the fourth quarter. True Wealth Design LLC now owns 176 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 96 shares during the last quarter. Institutional investors own 96.51% of the company’s stock.

About Essex Property Trust

Essex Property Trust, Inc (NYSE: ESS) is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.