Royal Bank Of Canada Reiterates “Buy” Rating for Essex Property Trust, Inc. (ESS)
A number of other equities analysts have also recently issued reports on the company. Barclays PLC raised their target price on Essex Property Trust from $267.00 to $269.00 and gave the stock an overweight rating in a report on Tuesday, July 18th. Robert W. Baird restated a buy rating and set a $273.00 target price on shares of Essex Property Trust in a report on Tuesday, September 12th. Zacks Investment Research upgraded Essex Property Trust from a hold rating to a buy rating and set a $289.00 target price on the stock in a report on Tuesday, July 18th. Cantor Fitzgerald restated a buy rating and set a $280.00 target price on shares of Essex Property Trust in a report on Wednesday, September 13th. Finally, Jefferies Group LLC restated a neutral rating on shares of Essex Property Trust in a report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $266.87.
Essex Property Trust (NYSE:ESS) opened at $252.15 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. Essex Property Trust has a 1-year low of $208.92 and a 1-year high of $270.04. The stock has a market capitalization of $17,079.16, a PE ratio of 22.10, a price-to-earnings-growth ratio of 3.66 and a beta of 0.54.
In other Essex Property Trust news, CEO Michael J. Schall sold 334 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $255.50, for a total value of $85,337.00. Following the sale, the chief executive officer now owns 45,097 shares in the company, valued at approximately $11,522,283.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig K. Zimmerman sold 167 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $255.50, for a total value of $42,668.50. Following the completion of the sale, the insider now owns 10,450 shares in the company, valued at approximately $2,669,975. The disclosure for this sale can be found here. Insiders sold a total of 8,599 shares of company stock worth $2,274,958 in the last 90 days. Company insiders own 3.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESS. Bank of New York Mellon Corp lifted its stake in Essex Property Trust by 38.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,488,052 shares of the real estate investment trust’s stock valued at $382,832,000 after acquiring an additional 412,316 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Essex Property Trust by 292.6% during the 3rd quarter. Janus Henderson Group PLC now owns 469,858 shares of the real estate investment trust’s stock worth $119,358,000 after purchasing an additional 350,192 shares during the last quarter. Koch Industries Inc. acquired a new position in shares of Essex Property Trust during the 2nd quarter worth approximately $301,000. Barings LLC acquired a new position in shares of Essex Property Trust during the 3rd quarter worth approximately $63,549,000. Finally, American Century Companies Inc. acquired a new position in shares of Essex Property Trust during the 2nd quarter worth approximately $61,713,000. Hedge funds and other institutional investors own 98.45% 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. 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.
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