Jefferies Group LLC Reiterates Hold Rating for Essex Property Trust Inc (ESS)

Jefferies Group LLC Reiterates Hold Rating for Essex Property Trust Inc (ESS)

Several other research analysts also recently weighed in on ESS. BMO Capital Markets set a $255.00 target price on shares of Essex Property Trust and gave the stock a “hold” rating in a research report on Thursday, May 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $267.00 target price (up from $248.00) on shares of Essex Property Trust in a research report on Tuesday, May 16th. Cantor Fitzgerald reissued a “buy” rating and issued a $269.00 target price on shares of Essex Property Trust in a research report on Wednesday, May 3rd. Zelman & Associates downgraded shares of Essex Property Trust from a “hold” rating to a “sell” rating in a research report on Monday, February 13th. Finally, Canaccord Genuity lifted their target price on shares of Essex Property Trust from $230.00 to $238.00 and gave the stock a “hold” rating in a research report on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $249.18.

Essex Property Trust Inc (NYSE:ESS)‘s stock had its “hold” rating reaffirmed by investment analysts at Jefferies Group LLC in a research note issued to investors on Tuesday. They presently have a $234.00 price objective on the real estate investment trust’s stock. Jefferies Group LLC’s target price suggests a potential downside of 8.92% from the stock’s current price.

Essex Property Trust (NYSE:ESS) opened at 256.92 on Tuesday. Essex Property Trust has a 1-year low of $200.01 and a 1-year high of $258.10. The firm has a market cap of $16.85 billion, a P/E ratio of 32.91 and a beta of 0.52. The firm has a 50 day moving average of $247.29 and a 200 day moving average of $231.71.

Essex Property Trust (NYSE:ESS) last released its earnings results on Thursday, April 27th. The real estate investment trust reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.05. The business had revenue of $335.40 million for the quarter, compared to the consensus estimate of $332.80 million. Essex Property Trust had a net margin of 32.07% and a return on equity of 6.55%. During the same period last year, the firm posted $2.68 earnings per share. On average, equities research analysts expect that Essex Property Trust will post $5.81 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Wednesday, June 28th. Essex Property Trust’s dividend payout ratio (DPR) is presently 102.07%.

In other news, insider John F. Burkart sold 167 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $254.75, for a total value of $42,543.25. Following the completion of the sale, the insider now directly owns 4,652 shares in the company, valued at $1,185,097. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Janice L. Sears sold 3,000 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $253.92, for a total transaction of $761,760.00. Following the completion of the sale, the director now owns 3,698 shares of the company’s stock, valued at $938,996.16. The disclosure for this sale can be found here. Insiders sold 57,660 shares of company stock valued at $14,020,499 over the last quarter. Corporate insiders own 3.50% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Muzinich & Co. Inc. boosted its stake in shares of Essex Property Trust by 246.5% in the first quarter. Muzinich & Co. Inc. now owns 551 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 392 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Essex Property Trust by 118.0% in the first quarter. Advisors Asset Management Inc. now owns 654 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 354 shares during the last quarter. FNY Partners Fund LP purchased a new stake in shares of Essex Property Trust during the first quarter worth $165,000. Warren Averett Asset Management LLC purchased a new stake in shares of Essex Property Trust during the first quarter worth $201,000. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of Essex Property Trust during the first quarter worth $217,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Essex Property Trust Company Profile

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ESS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Related posts

Leave a Comment