Essex Property Trust (NYSE:ESS) Hits New 1-Year High – Still a Buy?

Essex Property Trust, Inc. (NYSE:ESS)’s share price reached a new 52-week high on Thursday . The stock traded as high as $299.29 and last traded at $295.3190, with a volume of 360021 shares changing hands. The stock had previously closed at $291.59.

Wall Street Analysts Forecast Growth

ESS has been the topic of several recent research reports. Raymond James Financial upgraded Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $320.00 price objective on the stock in a research report on Friday, June 26th. UBS Group set a $290.00 price objective on shares of Essex Property Trust in a research note on Thursday, June 18th. Sanford C. Bernstein assumed coverage on shares of Essex Property Trust in a research report on Friday, June 26th. They set an “outperform” rating and a $320.00 target price for the company. Wall Street Zen downgraded Essex Property Trust from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Finally, Truist Financial increased their price objective on shares of Essex Property Trust from $273.00 to $286.00 and gave the company a “hold” rating in a research report on Wednesday, May 27th. 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $292.08.

Essex Property Trust Trading Up 1.3%

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’s 50-day simple moving average is $274.69 and its two-hundred day simple moving average is $260.84. The company has a market capitalization of $18.98 billion, a PE ratio of 33.18, a PEG ratio of 12.56 and a beta of 0.70.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share for the quarter, missing the consensus estimate 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 business 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 business earned $3.97 earnings per share. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. On average, analysts predict that Essex Property Trust, Inc. will post 16.12 earnings per share for the current year.

Essex Property Trust Announces Dividend

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

Insider Transactions at Essex Property Trust

In other Essex Property Trust news, Director Mary Kasaris sold 600 shares of the company’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 transaction, the director directly owned 2,394 shares of the company’s stock, valued at $669,003.30. This represents a 20.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.47% of the stock is owned by corporate insiders.

Institutional Trading of Essex Property Trust

A number of hedge funds have recently made changes to their positions in ESS. Woodline Partners LP bought a new position in Essex Property Trust during the 1st quarter valued at $1,664,000. Focus Partners Wealth bought a new stake in shares of Essex Property Trust in the 1st quarter worth about $223,000. EverSource Wealth Advisors LLC raised its stake in shares of Essex Property Trust by 70.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 279 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 115 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Essex Property Trust by 186.2% in the 2nd quarter. First Trust Advisors LP now owns 33,614 shares of the real estate investment trust’s stock valued at $9,526,000 after purchasing an additional 21,871 shares in the last quarter. Finally, Bank of Nova Scotia lifted its position in shares of Essex Property Trust by 10.9% during the second quarter. Bank of Nova Scotia now owns 8,274 shares of the real estate investment trust’s stock worth $2,345,000 after purchasing an additional 811 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

About Essex Property Trust

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.