Essex Property Trust (NYSE:ESS) Hits New 12-Month High After Analyst Upgrade

Essex Property Trust, Inc. (NYSE:ESS)’s share price hit a new 52-week high during trading on Friday after Jefferies Financial Group upgraded the stock to a hold rating. The company traded as high as $294.15 and last traded at $295.3830, with a volume of 273980 shares changing hands. The stock had previously closed at $285.57.

Several other research analysts also recently issued reports on ESS. Mizuho raised their price objective on shares of Essex Property Trust from $285.00 to $308.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. JPMorgan Chase & Co. upped their target price on shares of Essex Property Trust from $272.00 to $275.00 and gave the company an “underweight” rating in a report on Monday, May 18th. Raymond James Financial upgraded shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $320.00 target price for the company in a research note on Friday. Wells Fargo & Company raised their price target on Essex Property Trust from $262.00 to $280.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Finally, Barclays boosted their price target on Essex Property Trust from $272.00 to $277.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Nine research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $292.08.

Insider Buying and Selling

In other Essex Property Trust news, Director Mary Kasaris sold 600 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $279.45, for a total transaction of $167,670.00. Following the completion of the transaction, the director owned 2,394 shares in the company, valued at approximately $669,003.30. This represents a 20.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.47% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Dorsey & Whitney Trust CO LLC raised its holdings in Essex Property Trust by 5.2% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 814 shares of the real estate investment trust’s stock worth $213,000 after purchasing an additional 40 shares in the last quarter. Segment Wealth Management LLC boosted its holdings in Essex Property Trust by 5.1% in the 4th quarter. Segment Wealth Management LLC now owns 913 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 44 shares in the last quarter. Norinchukin Bank The increased its position in Essex Property Trust by 0.6% during the 3rd quarter. Norinchukin Bank The now owns 6,957 shares of the real estate investment trust’s stock worth $1,862,000 after purchasing an additional 44 shares during the period. Signaturefd LLC increased its position in Essex Property Trust by 11.3% during the 4th quarter. Signaturefd LLC now owns 445 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 45 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Essex Property Trust by 2.0% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,537 shares of the real estate investment trust’s stock worth $664,000 after buying an additional 50 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Essex Property Trust Trading Up 3.4%

The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.22. The business has a 50 day moving average price of $272.25 and a 200-day moving average price of $259.96. The firm has a market capitalization of $18.98 billion, a PE ratio of 33.19, a P/E/G ratio of 12.75 and a beta of 0.72.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $3.96 by ($2.31). The business had revenue of $484.76 million during the quarter, compared to analysts’ expectations of $479.89 million. Essex Property Trust had a net margin of 30.03% and a return on equity of 10.00%. During the same quarter last year, the firm earned $3.97 earnings per share. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Analysts expect that Essex Property Trust, Inc. will post 16.12 earnings per share for the current year.

Essex Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $2.59 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $10.36 dividend on an annualized basis and a dividend yield of 3.5%. Essex Property Trust’s dividend payout ratio is 116.40%.

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.