Essex Property Trust (NYSE:ESS) Upgraded by Jefferies Financial Group to Strong-Buy Rating

Jefferies Financial Group upgraded shares of Essex Property Trust (NYSE:ESS) to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

Several other brokerages have also issued reports on ESS. Scotiabank boosted their price target on shares of Essex Property Trust from $290.00 to $307.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Evercore reaffirmed an “outperform” rating and set a $296.00 price objective on shares of Essex Property Trust in a research note on Monday, June 8th. Wall Street Zen upgraded Essex Property Trust from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Morgan Stanley boosted their target price on Essex Property Trust from $293.00 to $302.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $330.00 price target on shares of Essex Property Trust in a report on Monday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $299.08.

Essex Property Trust Stock Down 0.3%

Essex Property Trust stock opened at $293.05 on Wednesday. The company’s 50 day simple moving average is $284.37 and its 200 day simple moving average is $264.49. Essex Property Trust has a fifty-two week low of $238.46 and a fifty-two week high of $303.35. The firm has a market capitalization of $18.83 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 12.68 and a beta of 0.70. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.98 and a quick ratio of 0.98.

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 anticipate that Essex Property Trust will post 16.11 EPS for the current year.

Essex Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $2.59 per share. This represents a $10.36 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Tuesday, June 30th. Essex Property Trust’s dividend payout ratio (DPR) is presently 116.40%.

Insider Buying and Selling

In related 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 value of $167,670.00. Following the completion of the transaction, the director directly owned 2,394 shares of the company’s stock, valued at approximately $669,003.30. This represents a 20.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.47% of the company’s stock.

Institutional Trading of Essex Property Trust

Institutional investors have recently modified their holdings of the company. Nemes Rush Group LLC acquired a new stake in Essex Property Trust in the 4th quarter valued at approximately $27,000. Generali Asset Management SPA SGR acquired a new position in Essex Property Trust during the 4th quarter worth approximately $29,000. Cassaday & Co Wealth Management LLC acquired a new position in Essex Property Trust during the 1st quarter worth approximately $38,000. Elevation Wealth Partners LLC grew its stake in shares of Essex Property Trust by 523.1% during the 2nd quarter. Elevation Wealth Partners LLC now owns 162 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 136 shares in the last quarter. Finally, Western Wealth Management LLC bought a new position in shares of Essex Property Trust during the 1st quarter worth approximately $44,000. 96.51% of the stock is currently 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.