Royal Bank Of Canada Has Lowered Expectations for Essex Property Trust (NYSE:ESS) Stock Price

Essex Property Trust (NYSE:ESS) had its target price cut by analysts at Royal Bank Of Canada from $312.00 to $298.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 10.18% from the company’s current price.

Several other research firms have also recently issued reports on ESS. UBS Group reiterated a “neutral” rating and set a $286.00 price objective (up from $278.00) on shares of Essex Property Trust in a research report on Tuesday, September 15th. Jefferies Financial Group upgraded shares of Essex Property Trust to a “strong-buy” rating in a research report on Wednesday, July 22nd. Citizens Jmp upgraded shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $330.00 target price for the company in a research report on Friday, July 31st. Raymond James Financial raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $320.00 target price for the company in a research note on Friday, June 26th. Finally, Wall Street Zen cut shares of Essex Property Trust from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $301.04.

Essex Property Trust Price Performance

ESS traded up $0.07 on Tuesday, hitting $270.46. 50,484 shares of the company’s stock traded hands, compared to its average volume of 505,388. The company’s 50 day simple moving average is $278.39 and its 200-day simple moving average is $275.43. The firm has a market cap of $17.38 billion, a price-to-earnings ratio of 41.99, a P/E/G ratio of 8.06 and a beta of 0.70. Essex Property Trust has a one year low of $238.46 and a one year high of $303.35. 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 posted its quarterly 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. Essex Property Trust had a return on equity of 7.33% and a net margin of 21.48%. The company had revenue of $489.05 million for the quarter, compared to analysts’ expectations of $485.12 million. During the same period in the previous year, the firm earned $4.03 EPS. 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. As a group, research analysts anticipate that Essex Property Trust will post 16.12 EPS for the current year.

Institutional Investors Weigh In On Essex Property Trust

Several hedge funds and other institutional investors have recently made changes to their positions in ESS. Cassaday & Co Wealth Management LLC purchased a new position in shares of Essex Property Trust during the 1st quarter worth about $38,000. Elevation Wealth Partners LLC grew its holdings in Essex Property Trust by 523.1% during the 2nd quarter. Elevation Wealth Partners LLC now owns 162 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 136 shares during the last quarter. Western Wealth Management LLC bought a new position in Essex Property Trust during the 1st quarter valued at about $44,000. EverSource Wealth Advisors LLC raised its position in 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 worth $64,000 after purchasing an additional 63 shares during the period. Finally, Clearstead Trust LLC purchased a new stake in Essex Property Trust in the 2nd quarter worth about $78,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

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.