Essex Property Trust (NYSE:ESS – Get Rating) had its target price decreased by stock analysts at Barclays from $310.00 to $300.00 in a research report issued to clients and investors on Thursday, The Fly reports. Barclays‘s price target points to a potential upside of 13.38% from the stock’s current price.
A number of other equities research analysts also recently issued reports on ESS. KeyCorp cut their target price on shares of Essex Property Trust from $371.00 to $314.00 and set an “overweight” rating for the company in a research report on Tuesday, June 28th. Mizuho lowered their target price on Essex Property Trust from $342.00 to $273.00 and set a “buy” rating on the stock in a research note on Monday, June 27th. Scotiabank cut their price target on Essex Property Trust from $340.00 to $333.00 in a research note on Thursday, May 19th. Jefferies Financial Group reduced their target price on shares of Essex Property Trust from $316.00 to $235.00 and set a “hold” rating for the company in a research note on Thursday, June 30th. Finally, Citigroup lifted their price objective on shares of Essex Property Trust to $295.00 in a research note on Tuesday, August 9th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $309.29.
Essex Property Trust Stock Performance
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Shares of ESS stock opened at $264.59 on Thursday. The stock’s fifty day simple moving average is $276.14 and its 200-day simple moving average is $298.69. The company has a market capitalization of $17.23 billion, a price-to-earnings ratio of 44.77, a P/E/G ratio of 2.89 and a beta of 0.79. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.00. Essex Property Trust has a 1-year low of $250.62 and a 1-year high of $363.36.
Institutional Trading of Essex Property Trust
Several institutional investors and hedge funds have recently added to or reduced their stakes in ESS. Pictet Asset Management SA increased its stake in Essex Property Trust by 1.7% during the 4th quarter. Pictet Asset Management SA now owns 48,531 shares of the real estate investment trust’s stock worth $17,094,000 after purchasing an additional 800 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its stake in Essex Property Trust by 111.2% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 10,228 shares of the real estate investment trust’s stock valued at $3,603,000 after purchasing an additional 5,386 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in Essex Property Trust by 102.5% in the 4th quarter. Ensign Peak Advisors Inc now owns 28,691 shares of the real estate investment trust’s stock valued at $10,107,000 after acquiring an additional 14,523 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Essex Property Trust by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 602,757 shares of the real estate investment trust’s stock worth $212,310,000 after buying an additional 13,732 shares during the period. Finally, Vert Asset Management LLC bought a new position in shares of Essex Property Trust during the fourth quarter worth approximately $3,785,000. 91.57% of the stock is owned by institutional investors.
About Essex Property Trust
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. Essex currently has ownership interests in 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.
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