Essex Property Trust (NYSE:ESS) Upgraded to Buy at Deutsche Bank Aktiengesellschaft

Essex Property Trust (NYSE:ESS) was upgraded by Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued on Tuesday,Briefing.com Automated Import reports. The firm currently has a $310.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $308.00. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 9.46% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. JMP Securities reissued a “market perform” rating on shares of Essex Property Trust in a research report on Thursday, January 16th. Bank of America lowered shares of Essex Property Trust from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $307.00 to $321.00 in a report on Tuesday, September 24th. Mizuho cut their price target on Essex Property Trust from $325.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. BMO Capital Markets upgraded Essex Property Trust from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $323.00 to $310.00 in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. cut shares of Essex Property Trust from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $297.00 to $303.00 in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $305.53.

Essex Property Trust Trading Down 0.2 %

ESS stock opened at $283.20 on Tuesday. The firm’s fifty day simple moving average is $293.18 and its two-hundred day simple moving average is $291.96. The stock has a market capitalization of $18.20 billion, a price-to-earnings ratio of 33.08, a price-to-earnings-growth ratio of 5.43 and a beta of 0.92. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.13. Essex Property Trust has a twelve month low of $223.06 and a twelve month high of $317.73.

Essex Property Trust (NYSE:ESS) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.88 by ($2.04). The business had revenue of $450.70 million for the quarter, compared to analysts’ expectations of $445.88 million. Essex Property Trust had a net margin of 31.55% and a return on equity of 9.72%. During the same quarter last year, the firm earned $3.78 EPS. As a group, analysts anticipate that Essex Property Trust will post 15.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ESS. Assetmark Inc. raised its holdings in Essex Property Trust by 2,400.0% during the third quarter. Assetmark Inc. now owns 100 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 96 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Essex Property Trust during the 3rd quarter worth approximately $39,000. UMB Bank n.a. raised its position in shares of Essex Property Trust by 37.5% during the 4th quarter. UMB Bank n.a. now owns 154 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 42 shares during the last quarter. Continuum Advisory LLC grew its holdings in Essex Property Trust by 104.5% during the 3rd quarter. Continuum Advisory LLC now owns 225 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 115 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new position in shares of Essex Property Trust in the third quarter worth $89,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Essex Property Trust Company Profile

Essex Property Trust, Inc, an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.