Essex Property Trust (NYSE:ESS – Get Rating) was downgraded by equities research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, The Fly reports.
A number of other analysts have also recently weighed in on ESS. Citigroup upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and set a $295.00 price objective for the company in a research note on Monday, September 19th. Barclays cut their target price on shares of Essex Property Trust from $300.00 to $219.00 and set an “underweight” rating for the company in a research note on Thursday, November 10th. StockNews.com initiated coverage on shares of Essex Property Trust in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Evercore ISI cut their target price on shares of Essex Property Trust to $290.00 in a research note on Thursday, October 13th. Finally, Stifel Nicolaus cut their target price on shares of Essex Property Trust from $336.00 to $291.00 in a research note on Friday, October 7th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Essex Property Trust currently has a consensus rating of “Hold” and an average target price of $275.24.
Essex Property Trust Price Performance
Shares of Essex Property Trust stock opened at $213.74 on Wednesday. The firm has a fifty day simple moving average of $229.10 and a 200-day simple moving average of $259.25. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.05. Essex Property Trust has a 1-year low of $205.76 and a 1-year high of $363.36. The stock has a market capitalization of $13.84 billion, a price-to-earnings ratio of 38.72, a PEG ratio of 1.87 and a beta of 0.73.
Institutional Investors Weigh In On Essex Property Trust
Several large investors have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Essex Property Trust in the 3rd quarter worth about $1,450,000. FourThought Financial LLC grew its holdings in shares of Essex Property Trust by 137.5% in the 3rd quarter. FourThought Financial LLC now owns 4,871 shares of the real estate investment trust’s stock worth $1,180,000 after purchasing an additional 2,820 shares during the last quarter. Power Corp of Canada bought a new stake in shares of Essex Property Trust in the 3rd quarter worth about $363,000. National Pension Service grew its holdings in shares of Essex Property Trust by 1.8% in the 3rd quarter. National Pension Service now owns 88,546 shares of the real estate investment trust’s stock worth $21,132,000 after purchasing an additional 1,581 shares during the last quarter. Finally, CENTRAL TRUST Co grew its holdings in shares of Essex Property Trust by 51.3% in the 3rd quarter. CENTRAL TRUST Co now owns 295 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 91.57% of the company’s stock.
Essex Property Trust Company Profile
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 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.
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