Essex Property Trust (NYSE:ESS) Stock Rating Reaffirmed by Piper Sandler

Essex Property Trust (NYSE:ESS)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Piper Sandler in a report released on Friday, Benzinga reports. They currently have a $315.00 target price on the real estate investment trust’s stock. Piper Sandler’s price target points to a potential upside of 15.72% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Raymond James raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price target on the stock in a report on Monday, March 18th. Truist Financial upped their price target on shares of Essex Property Trust from $255.00 to $282.00 and gave the company a “hold” rating in a report on Monday, June 24th. Wells Fargo & Company upped their price target on shares of Essex Property Trust from $232.00 to $269.00 and gave the company an “equal weight” rating in a report on Friday, May 31st. JPMorgan Chase & Co. upped their price target on shares of Essex Property Trust from $244.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, June 17th. Finally, Mizuho upped their price target on shares of Essex Property Trust from $250.00 to $266.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $258.63.

Essex Property Trust Trading Up 0.5 %

NYSE ESS opened at $272.20 on Friday. The company’s fifty day simple moving average is $262.73 and its 200-day simple moving average is $247.57. Essex Property Trust has a 52 week low of $203.85 and a 52 week high of $284.77. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 1.14. The stock has a market cap of $17.48 billion, a P/E ratio of 33.28, a PEG ratio of 3.83 and a beta of 0.84.

Insider Transactions at Essex Property Trust

In other news, CEO Angela L. Kleiman sold 3,780 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $278.27, for a total transaction of $1,051,860.60. Following the completion of the transaction, the chief executive officer now owns 9,494 shares in the company, valued at $2,641,895.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Keith R. Guericke sold 10,000 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $274.57, for a total value of $2,745,700.00. Following the completion of the transaction, the director now owns 16,118 shares in the company, valued at approximately $4,425,519.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Angela L. Kleiman sold 3,780 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $278.27, for a total transaction of $1,051,860.60. Following the completion of the transaction, the chief executive officer now owns 9,494 shares of the company’s stock, valued at approximately $2,641,895.38. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Essex Property Trust

A number of institutional investors and hedge funds have recently bought and sold shares of ESS. EP Wealth Advisors LLC lifted its holdings in Essex Property Trust by 3.7% in the 1st quarter. EP Wealth Advisors LLC now owns 1,228 shares of the real estate investment trust’s stock valued at $301,000 after acquiring an additional 44 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its holdings in Essex Property Trust by 2.4% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 1,913 shares of the real estate investment trust’s stock valued at $474,000 after acquiring an additional 45 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in Essex Property Trust by 1.8% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 2,552 shares of the real estate investment trust’s stock valued at $633,000 after acquiring an additional 45 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Essex Property Trust by 2.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,866 shares of the real estate investment trust’s stock valued at $463,000 after acquiring an additional 51 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Essex Property Trust by 10.3% in the 1st quarter. GAMMA Investing LLC now owns 591 shares of the real estate investment trust’s stock valued at $145,000 after acquiring an additional 55 shares during the last quarter. Institutional investors own 96.51% of the company’s stock.

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.