Essex Property Trust (NYSE:ESS – Get Free Report)‘s stock had its “sell” rating reissued by stock analysts at The Goldman Sachs Group in a research note issued on Thursday, Benzinga reports. They presently have a $227.00 price target on the real estate investment trust’s stock. The Goldman Sachs Group’s price objective indicates a potential downside of 1.02% from the stock’s current price.
A number of other analysts also recently commented on ESS. Jefferies Financial Group upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and increased their price objective for the company from $215.00 to $281.00 in a report on Tuesday, January 2nd. Truist Financial raised their price target on shares of Essex Property Trust from $260.00 to $276.00 and gave the stock a “hold” rating in a report on Tuesday, January 16th. Royal Bank of Canada raised their price target on shares of Essex Property Trust from $237.00 to $239.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Stifel Nicolaus cut their price target on shares of Essex Property Trust from $225.00 to $223.00 and set a “hold” rating for the company in a report on Wednesday, February 7th. Finally, Mizuho raised their price target on shares of Essex Property Trust from $232.00 to $256.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $243.50.
Read Our Latest Stock Analysis on Essex Property Trust
Essex Property Trust Stock Down 0.3 %
ESS stock opened at $229.33 on Thursday. The company has a market cap of $14.72 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 2.98 and a beta of 0.80. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 1.11. Essex Property Trust has a 12 month low of $195.03 and a 12 month high of $252.85. The firm has a 50-day moving average of $239.61 and a two-hundred day moving average of $228.24.
Institutional Investors Weigh In On Essex Property Trust
Large investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in Essex Property Trust by 24.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,261 shares of the real estate investment trust’s stock valued at $781,000 after buying an additional 450 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Essex Property Trust by 1.2% in the 1st quarter. Allianz Asset Management GmbH now owns 88,915 shares of the real estate investment trust’s stock valued at $30,718,000 after acquiring an additional 1,050 shares during the last quarter. Prudential PLC purchased a new position in shares of Essex Property Trust in the 1st quarter valued at about $475,000. Vanguard Group Inc. increased its holdings in shares of Essex Property Trust by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 10,614,782 shares of the real estate investment trust’s stock valued at $3,667,195,000 after acquiring an additional 184,047 shares during the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of Essex Property Trust by 3.6% in the 1st quarter. Baird Financial Group Inc. now owns 53,635 shares of the real estate investment trust’s stock valued at $18,530,000 after acquiring an additional 1,847 shares during the last quarter. 92.93% of the stock is owned by hedge funds and other 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.
Further Reading
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