Essex Property Trust, Inc. (NYSE:ESS) has been assigned a consensus recommendation of “Hold” from the nineteen research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $270.15.

A number of research firms have weighed in on ESS. Royal Bank Of Canada reiterated an “outperform” rating and issued a $267.00 target price (up previously from $248.00) on shares of Essex Property Trust in a research note on Tuesday, May 16th. Stifel Nicolaus began coverage on Essex Property Trust in a research note on Friday. They issued a “buy” rating and a $294.00 target price on the stock. SunTrust Banks, Inc. lowered Essex Property Trust from a “buy” rating to a “hold” rating and set a $257.00 target price on the stock. in a research note on Thursday, May 18th. They noted that the move was a valuation call. Canaccord Genuity set a $270.00 target price on Essex Property Trust and gave the stock a “hold” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research lowered Essex Property Trust from a “buy” rating to a “hold” rating in a research note on Monday, July 17th.

Shares of Essex Property Trust (NYSE:ESS) traded down 0.08% on Tuesday, reaching $265.77. 275,680 shares of the company’s stock were exchanged. The company’s 50 day moving average is $262.93 and its 200-day moving average is $249.61. The stock has a market cap of $17.54 billion, a price-to-earnings ratio of 34.17 and a beta of 0.52. Essex Property Trust has a one year low of $200.01 and a one year high of $268.97.

Essex Property Trust (NYSE:ESS) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.05. Essex Property Trust had a return on equity of 8.03% and a net margin of 38.33%. The business had revenue of $339.06 million for the quarter, compared to analyst estimates of $336.17 million. During the same quarter last year, the firm posted $2.74 earnings per share. On average, analysts anticipate that Essex Property Trust will post $5.95 EPS for the current year.

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In related news, insider John D. Eudy sold 166 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $253.79, for a total transaction of $42,129.14. Following the sale, the insider now owns 8,596 shares of the company’s stock, valued at $2,181,578.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael J. Schall sold 333 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $256.06, for a total value of $85,267.98. Following the sale, the insider now directly owns 45,096 shares in the company, valued at approximately $11,547,281.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,230 shares of company stock worth $2,977,186. 3.30% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Candriam Luxembourg S.C.A. increased its stake in shares of Essex Property Trust by 28.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 4,879 shares of the real estate investment trust’s stock worth $1,130,000 after buying an additional 1,087 shares during the last quarter. Korea Investment CORP increased its stake in shares of Essex Property Trust by 41,654.5% in the first quarter. Korea Investment CORP now owns 32,151 shares of the real estate investment trust’s stock worth $7,444,000 after buying an additional 32,074 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Essex Property Trust by 202.1% in the first quarter. ProShare Advisors LLC now owns 69,038 shares of the real estate investment trust’s stock worth $5,341,000 after buying an additional 46,188 shares during the last quarter. Glen Harbor Capital Management LLC increased its stake in shares of Essex Property Trust by 19.4% in the first quarter. Glen Harbor Capital Management LLC now owns 3,276 shares of the real estate investment trust’s stock worth $759,000 after buying an additional 532 shares during the last quarter. Finally, Shell Asset Management Co. increased its stake in shares of Essex Property Trust by 1.5% in the first quarter. Shell Asset Management Co. now owns 8,162 shares of the real estate investment trust’s stock worth $1,890,000 after buying an additional 124 shares during the last quarter. 99.55% of the stock is currently owned by institutional investors.

About Essex Property Trust

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.

Analyst Recommendations for Essex Property Trust (NYSE:ESS)

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