Deutsche Bank Aktiengesellschaft Increases Essex Property Trust (NYSE:ESS) Price Target to $308.00

Essex Property Trust (NYSE:ESS) had its price target boosted by equities researchers at Deutsche Bank Aktiengesellschaft from $240.00 to $308.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 0.01% from the company’s previous close.

Several other research analysts have also recently weighed in on ESS. UBS Group upped their price target on shares of Essex Property Trust from $261.00 to $283.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Mizuho upped their price target on shares of Essex Property Trust from $250.00 to $266.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Truist Financial upped their price target on shares of Essex Property Trust from $282.00 to $294.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Royal Bank of Canada upped their target price on shares of Essex Property Trust from $284.00 to $288.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus upped their target price on shares of Essex Property Trust from $267.00 to $268.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Essex Property Trust has a consensus rating of “Hold” and an average price target of $288.30.

Essex Property Trust Trading Down 0.1 %

Essex Property Trust stock opened at $307.96 on Tuesday. The stock has a market cap of $19.77 billion, a P/E ratio of 37.65, a PEG ratio of 4.27 and a beta of 0.88. Essex Property Trust has a fifty-two week low of $203.85 and a fifty-two week high of $308.60. The firm’s fifty day moving average price is $286.96 and its 200-day moving average price is $264.71. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.62 and a current ratio of 1.62.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.45 earnings per share for the quarter, missing the consensus estimate of $3.85 by ($2.40). The firm had revenue of $442.36 million during the quarter, compared to the consensus estimate of $433.26 million. Essex Property Trust had a return on equity of 9.14% and a net margin of 30.31%. During the same period in the previous year, the company posted $3.77 EPS. Equities research analysts forecast that Essex Property Trust will post 15.53 earnings per share for the current fiscal year.

Insider Transactions at Essex Property Trust

In other news, Director Amal M. Johnson sold 2,453 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $300.00, for a total transaction of $735,900.00. Following the completion of the sale, the director now directly owns 2,585 shares in the company, valued at $775,500. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Keith R. Guericke sold 10,000 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $274.57, for a total value of $2,745,700.00. Following the completion of the transaction, the director now directly owns 16,118 shares of the company’s stock, valued at $4,425,519.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amal M. Johnson sold 2,453 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $300.00, for a total transaction of $735,900.00. Following the completion of the transaction, the director now directly owns 2,585 shares of the company’s stock, valued at $775,500. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,233 shares of company stock worth $4,533,461. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Essex Property Trust

Institutional investors have recently bought and sold shares of the stock. Continuum Advisory LLC raised its stake in Essex Property Trust by 214.3% in the second quarter. Continuum Advisory LLC now owns 110 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 75 shares in the last quarter. UMB Bank n.a. raised its stake in Essex Property Trust by 600.0% in the second quarter. UMB Bank n.a. now owns 112 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 96 shares in the last quarter. Family Firm Inc. bought a new position in Essex Property Trust in the second quarter worth about $31,000. Vima LLC bought a new position in Essex Property Trust in the fourth quarter worth about $40,000. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in shares of Essex Property Trust by 121.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 193 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 106 shares in the last quarter. 96.51% of the stock is owned by institutional investors.

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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.