Essex Property Trust (NYSE:ESS) Stock Gets Price Target Reduction from UBS Group

Essex Property Trust (NYSE:ESS) had its target price cut by UBS Group from $286.00 to $275.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other equities research analysts have also recently issued reports on ESS. Weiss Ratings cut Essex Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 10th. Wells Fargo & Company lifted their target price on Essex Property Trust from $280.00 to $297.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price target on Essex Property Trust from $275.00 to $295.00 and gave the company an “underweight” rating in a research note on Friday, August 14th. Jefferies Financial Group raised Essex Property Trust to a “strong-buy” rating in a research note on Wednesday, July 22nd. Finally, Barclays lowered their price target on Essex Property Trust from $297.00 to $285.00 and set an “equal weight” rating for the company in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $299.89.

Essex Property Trust Price Performance

Essex Property Trust stock opened at $269.46 on Wednesday. Essex Property Trust has a 12-month low of $238.46 and a 12-month high of $303.35. The stock has a market cap of $17.32 billion, a P/E ratio of 16.76, a PEG ratio of 8.01 and a beta of 0.70. The company has a 50-day moving average price of $277.03 and a 200 day moving average price of $275.99. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.22.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $2.62. The company had revenue of $489.05 million for the quarter, compared to the consensus estimate of $485.12 million. Essex Property Trust had a net margin of 21.48% and a return on equity of 7.33%. During the same period in the previous year, the firm earned $4.03 earnings per share. Essex Property Trust has set its Q3 2026 guidance at 3.930-4.050 EPS and its FY 2026 guidance at 16.030-16.250 EPS. Sell-side analysts anticipate that Essex Property Trust will post 16.11 earnings per share for the current year.

Essex Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a $2.59 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $10.36 dividend on an annualized basis and a yield of 3.8%. Essex Property Trust’s payout ratio is presently 161.12%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC boosted its position in shares of Essex Property Trust by 1.7% during the first quarter. Kestra Private Wealth Services LLC now owns 3,047 shares of the real estate investment trust’s stock worth $737,000 after buying an additional 50 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Essex Property Trust by 31.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 265 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 63 shares during the period. Sigma Planning Corp raised its holdings in shares of Essex Property Trust by 1.5% in the 2nd quarter. Sigma Planning Corp now owns 4,949 shares of the real estate investment trust’s stock valued at $1,443,000 after buying an additional 73 shares during the period. Revisor Wealth Management LLC raised its holdings in shares of Essex Property Trust by 5.7% in the 1st quarter. Revisor Wealth Management LLC now owns 1,384 shares of the real estate investment trust’s stock valued at $341,000 after buying an additional 75 shares during the period. Finally, Patton Fund Management Inc. lifted its stake in Essex Property Trust by 9.4% during the 1st quarter. Patton Fund Management Inc. now owns 941 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 81 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Essex Property Trust Company Profile

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust that owns, operates, develops, redevelops and acquires multifamily communities. The company’s portfolio consists primarily of apartment homes, with related services and amenities designed for residential renters.

Founded in 1971, Essex focuses on markets along the West Coast of the United States. Its properties are concentrated in Southern California, Northern California and the Seattle metropolitan area, where the company seeks to benefit from employment growth, population trends and demand for rental housing.

Essex Property Trust is headquartered in San Mateo, California, and its common stock trades on the New York Stock Exchange under the symbol ESS.