Essex Property Trust (NYSE:ESS) Coverage Initiated by Analysts at Sanford C. Bernstein

Equities researchers at Sanford C. Bernstein assumed coverage on shares of Essex Property Trust (NYSE:ESS) in a research report issued on Friday. The firm set an “outperform” rating and a $320.00 price target on the real estate investment trust’s stock. Sanford C. Bernstein’s target price points to a potential upside of 9.84% from the stock’s previous close.

Several other equities analysts have also issued reports on ESS. Evercore reissued an “outperform” rating and set a $296.00 target price on shares of Essex Property Trust in a research note on Monday, June 8th. JPMorgan Chase & Co. lifted their price target on shares of Essex Property Trust from $272.00 to $275.00 and gave the company an “underweight” rating in a research note on Monday, May 18th. Robert W. Baird increased their price objective on shares of Essex Property Trust from $279.00 to $281.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Weiss Ratings raised shares of Essex Property Trust from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Finally, Barclays increased their target price on Essex Property Trust from $272.00 to $277.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Nine analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $292.08.

Essex Property Trust Trading Up 2.0%

Shares of Essex Property Trust stock traded up $5.77 during trading on Friday, hitting $291.34. 22,640 shares of the company were exchanged, compared to its average volume of 512,193. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $18.72 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 12.16 and a beta of 0.72. The firm’s fifty day moving average price is $271.38 and its 200 day moving average price is $259.71. Essex Property Trust has a 1-year low of $238.46 and a 1-year high of $294.09.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($2.31). Essex Property Trust had a net margin of 30.03% and a return on equity of 10.00%. The firm had revenue of $484.76 million for the quarter, compared to analyst estimates of $479.89 million. During the same quarter in the prior year, the firm posted $3.97 EPS. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. As a group, sell-side analysts expect that Essex Property Trust will post 16.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Essex Property Trust news, Director Mary Kasaris sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $279.45, for a total value of $167,670.00. Following the completion of the transaction, the director directly owned 2,394 shares in the company, valued at $669,003.30. This trade represents a 20.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.47% of the company’s stock.

Institutional Trading of Essex Property Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DV Trading LLC raised its holdings in shares of Essex Property Trust by 1,150.0% in the 1st quarter. DV Trading LLC now owns 1,000 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 920 shares during the period. Parallel Advisors LLC grew its holdings in Essex Property Trust by 3.8% during the first quarter. Parallel Advisors LLC now owns 2,759 shares of the real estate investment trust’s stock worth $668,000 after purchasing an additional 102 shares during the period. Cozad Asset Management Inc. grew its holdings in Essex Property Trust by 6.8% during the first quarter. Cozad Asset Management Inc. now owns 7,416 shares of the real estate investment trust’s stock worth $1,795,000 after purchasing an additional 472 shares during the period. Summitry LLC increased its position in Essex Property Trust by 5.4% during the first quarter. Summitry LLC now owns 1,869 shares of the real estate investment trust’s stock worth $452,000 after buying an additional 96 shares during the last quarter. Finally, Groupe la Francaise acquired a new position in Essex Property Trust during the first quarter worth approximately $561,000. 96.51% of the stock is owned by institutional investors.

Essex Property Trust Company Profile

Essex Property Trust, Inc (NYSE: ESS) is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long‑term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.