Essex Property Trust (NYSE:ESS – Get Free Report) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
ESS has been the topic of several other research reports. Morgan Stanley boosted their price target on shares of Essex Property Trust from $227.00 to $230.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Mizuho raised Essex Property Trust from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $255.00 to $250.00 in a research report on Wednesday, February 28th. Jefferies Financial Group upgraded Essex Property Trust from a “hold” rating to a “buy” rating and lifted their price target for the company from $215.00 to $281.00 in a research report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Essex Property Trust in a report on Tuesday, January 30th. They issued a “hold” rating and a $240.00 price objective for the company. Finally, Royal Bank of Canada raised their price objective on Essex Property Trust from $237.00 to $239.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $245.37.
Check Out Our Latest Research Report on Essex Property Trust
Essex Property Trust Stock Performance
NYSE:ESS opened at $239.29 on Friday. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 1.11. The firm’s fifty day simple moving average is $237.02 and its 200 day simple moving average is $229.90. The stock has a market cap of $15.36 billion, a P/E ratio of 37.92, a price-to-earnings-growth ratio of 3.60 and a beta of 0.80. Essex Property Trust has a twelve month low of $203.85 and a twelve month high of $252.85.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of ESS. Steward Partners Investment Advisory LLC boosted its holdings in Essex Property Trust by 100.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 120 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 60 shares during the last quarter. Clear Street Markets LLC purchased a new position in shares of Essex Property Trust in the 4th quarter worth $25,000. Lindbrook Capital LLC grew its holdings in shares of Essex Property Trust by 111.5% in the fourth quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 58 shares during the period. Pacific Center for Financial Services bought a new stake in shares of Essex Property Trust in the first quarter worth $30,000. Finally, Advisory Services Network LLC purchased a new stake in Essex Property Trust during the first quarter valued at $32,000. 96.51% of the stock is 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. Essex currently has ownership interests in 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Essex Property Trust, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Essex Property Trust wasn’t on the list.
While Essex Property Trust currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.