Piper Sandler Boosts Essex Property Trust (NYSE:ESS) Price Target to $315.00

Essex Property Trust (NYSE:ESS) had its price target upped by equities research analysts at Piper Sandler from $291.00 to $315.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s price target would indicate a potential upside of 25.84% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Raymond James raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price objective on the stock in a research report on Monday, March 18th. Barclays lifted their price target on Essex Property Trust from $224.00 to $225.00 and gave the stock an “underweight” rating in a report on Tuesday, February 20th. Morgan Stanley boosted their target price on Essex Property Trust from $227.00 to $230.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Deutsche Bank Aktiengesellschaft began coverage on Essex Property Trust in a report on Tuesday, January 30th. They set a “hold” rating and a $240.00 price target for the company. Finally, Mizuho upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $255.00 to $250.00 in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Essex Property Trust currently has an average rating of “Hold” and a consensus price target of $248.50.

Essex Property Trust Stock Performance

Shares of ESS opened at $250.31 on Monday. The firm’s 50 day moving average price is $240.34 and its two-hundred day moving average price is $232.99. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.19 and a current ratio of 3.19. The firm has a market cap of $16.07 billion, a P/E ratio of 30.60, a PEG ratio of 3.67 and a beta of 0.79. Essex Property Trust has a twelve month low of $203.85 and a twelve month high of $253.53.

Institutional Trading of Essex Property Trust

Several large investors have recently made changes to their positions in ESS. Lindbrook Capital LLC lifted its stake in Essex Property Trust by 111.5% in the 4th quarter. Lindbrook Capital LLC now owns 110 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Essex Property Trust by 112.3% in the 1st quarter. Venturi Wealth Management LLC now owns 138 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 73 shares during the last quarter. Vima LLC bought a new position in Essex Property Trust in the 4th quarter valued at approximately $40,000. Bruce G. Allen Investments LLC bought a new position in Essex Property Trust in the 4th quarter valued at approximately $41,000. Finally, Bear Mountain Capital Inc. bought a new position in Essex Property Trust in the 4th quarter valued at approximately $55,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

About Essex Property Trust

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.