Essex Property Trust (NYSE:ESS) Price Target Increased to $239.00 by Analysts at Royal Bank of Canada

Essex Property Trust (NYSE:ESSFree Report) had its price target raised by Royal Bank of Canada from $237.00 to $239.00 in a report published on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the real estate investment trust’s stock.

ESS has been the subject of a number of other research reports. Mizuho boosted their target price on Essex Property Trust from $232.00 to $256.00 and gave the stock a neutral rating in a report on Wednesday, January 10th. Stifel Nicolaus dropped their price objective on shares of Essex Property Trust from $225.00 to $223.00 and set a hold rating for the company in a research report on Wednesday. Truist Financial raised their target price on shares of Essex Property Trust from $260.00 to $276.00 and gave the company a hold rating in a research note on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Essex Property Trust in a research report on Tuesday, January 30th. They set a hold rating and a $240.00 price target for the company. Finally, Jefferies Financial Group raised Essex Property Trust from a hold rating to a buy rating and raised their price objective for the company from $215.00 to $281.00 in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Essex Property Trust presently has a consensus rating of Hold and an average target price of $244.41.

View Our Latest Research Report on ESS

Essex Property Trust Price Performance

Shares of Essex Property Trust stock opened at $229.34 on Thursday. Essex Property Trust has a twelve month low of $195.03 and a twelve month high of $252.85. The stock has a market capitalization of $14.72 billion, a P/E ratio of 36.35, a PEG ratio of 2.65 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. The business’s fifty day moving average price is $239.21 and its 200 day moving average price is $229.02.

Essex Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were given a dividend of $2.31 per share. The ex-dividend date was Friday, December 29th. This represents a $9.24 annualized dividend and a dividend yield of 4.03%. Essex Property Trust’s payout ratio is 146.43%.

Institutional Trading of Essex Property Trust

Several hedge funds and other institutional investors have recently bought and sold shares of ESS. Lindbrook Capital LLC increased its holdings in shares of Essex Property Trust by 111.5% in the 4th quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Essex Property Trust by 100.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 120 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 60 shares during the last quarter. Clear Street Markets LLC raised its holdings in shares of Essex Property Trust by 89.4% during the first quarter. Clear Street Markets LLC now owns 125 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 59 shares during the period. Pacific Center for Financial Services bought a new position in shares of Essex Property Trust in the 1st quarter worth about $30,000. Finally, Capital Advisors Ltd. LLC acquired a new position in shares of Essex Property Trust in the 2nd quarter valued at about $36,000. 92.93% of the stock is owned by institutional investors.

Essex Property Trust Company Profile

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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.

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Analyst Recommendations for Essex Property Trust (NYSE:ESS)

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