JPMorgan Chase & Co. Issues Positive Forecast for Essex Property Trust (NYSE:ESS) Stock Price

Essex Property Trust (NYSE:ESS) had its price objective increased by JPMorgan Chase & Co. from $275.00 to $295.00 in a report issued on Friday,Benzinga reports. The firm currently has an underweight rating on the real estate investment trust’s stock.

Other analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $330.00 price target on shares of Essex Property Trust in a research report on Monday, July 20th. Evercore reiterated an “outperform” rating and issued a $303.00 target price on shares of Essex Property Trust in a research report on Thursday, July 30th. Piper Sandler raised their price target on shares of Essex Property Trust from $310.00 to $352.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Mizuho lifted their price objective on shares of Essex Property Trust from $285.00 to $308.00 and gave the company an “outperform” rating in a research note on Wednesday, June 10th. Finally, Citigroup raised shares of Essex Property Trust from a “buy” rating to an “outperform” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Essex Property Trust presently has an average rating of “Moderate Buy” and a consensus price target of $304.99.

Essex Property Trust Trading Up 0.0%

NYSE:ESS opened at $287.52 on Friday. The company has a market capitalization of $18.48 billion, a P/E ratio of 44.72, a PEG ratio of 10.53 and a beta of 0.69. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.22. Essex Property Trust has a 12 month low of $238.46 and a 12 month high of $303.35. The firm has a fifty day simple moving average of $288.37 and a 200-day simple moving average of $268.38.

Insider Activity at Essex Property Trust

In related news, Director Mary Kasaris sold 600 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $279.45, for a total transaction of $167,670.00. Following the sale, the director directly owned 2,394 shares of the company’s stock, valued at $669,003.30. This trade represents a 20.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ESS. Nemes Rush Group LLC purchased a new position in shares of Essex Property Trust during the 4th quarter valued at approximately $27,000. Generali Asset Management SPA SGR purchased a new stake in Essex Property Trust during the fourth quarter worth $29,000. Cassaday & Co Wealth Management LLC purchased a new stake in Essex Property Trust during the first quarter worth $38,000. Elevation Wealth Partners LLC grew its position in Essex Property Trust by 523.1% during the second quarter. Elevation Wealth Partners LLC now owns 162 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 136 shares during the period. Finally, Western Wealth Management LLC acquired a new stake in Essex Property Trust during the first quarter valued at $44,000. 96.51% of the stock is owned by institutional investors and hedge funds.

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.