JMP Securities reaffirmed their hold rating on shares of Essex Property Trust (NYSE:ESS) in a research report released on Wednesday morning.

A number of other research firms have also recently commented on ESS. BMO Capital Markets reaffirmed a hold rating and set a $257.00 price objective on shares of Essex Property Trust in a research report on Monday, November 27th. Mitsubishi UFJ Financial Group reaffirmed a neutral rating on shares of Essex Property Trust in a research report on Friday, November 3rd. Zacks Investment Research raised shares of Essex Property Trust from a hold rating to a buy rating and set a $289.00 price objective for the company in a research report on Tuesday, October 10th. Stifel Nicolaus initiated coverage on shares of Essex Property Trust in a research report on Friday, September 1st. They set a buy rating and a $294.00 price objective for the company. Finally, Robert W. Baird reaffirmed a buy rating and set a $273.00 price objective on shares of Essex Property Trust in a research report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Essex Property Trust currently has an average rating of Hold and a consensus target price of $271.19.

Essex Property Trust (NYSE:ESS) opened at $241.23 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. Essex Property Trust has a 52-week low of $218.41 and a 52-week high of $270.04. The company has a market cap of $15,870.00, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a $1.75 dividend. The ex-dividend date is Thursday, December 28th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.90%. Essex Property Trust’s payout ratio is presently 87.72%.

In related news, CEO Michael J. Schall sold 333 shares of the business’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $257.92, for a total value of $85,887.36. Following the completion of the transaction, the chief executive officer now owns 45,096 shares of the company’s stock, valued at $11,631,160.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John D. Eudy sold 166 shares of the business’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $257.92, for a total value of $42,814.72. The disclosure for this sale can be found here. In the last three months, insiders sold 10,269 shares of company stock valued at $2,558,882. 3.30% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Essex Property Trust by 0.8% in the second quarter. Vanguard Group Inc. now owns 11,496,906 shares of the real estate investment trust’s stock valued at $2,957,809,000 after purchasing an additional 92,531 shares in the last quarter. BlackRock Inc. raised its stake in Essex Property Trust by 1.5% in the second quarter. BlackRock Inc. now owns 6,573,361 shares of the real estate investment trust’s stock valued at $1,691,128,000 after purchasing an additional 94,331 shares in the last quarter. State Street Corp raised its stake in Essex Property Trust by 0.7% in the second quarter. State Street Corp now owns 4,744,926 shares of the real estate investment trust’s stock valued at $1,220,731,000 after purchasing an additional 30,726 shares in the last quarter. Principal Financial Group Inc. raised its stake in Essex Property Trust by 3.6% in the third quarter. Principal Financial Group Inc. now owns 2,328,165 shares of the real estate investment trust’s stock valued at $591,424,000 after purchasing an additional 80,573 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Essex Property Trust by 3.6% in the second quarter. Northern Trust Corp now owns 1,094,493 shares of the real estate investment trust’s stock valued at $281,580,000 after purchasing an additional 37,953 shares in the last quarter. 97.14% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Essex Property Trust (NYSE:ESS)

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