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

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

ESS has been the topic of several other reports. Barclays initiated coverage on Essex Property Trust in a research report on Tuesday, December 17th. They set an “equal weight” rating and a $316.00 price target on the stock. JPMorgan Chase & Co. lowered shares of Essex Property Trust from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $297.00 to $303.00 in a research note on Tuesday, December 17th. BMO Capital Markets upgraded shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $323.00 to $310.00 in a research note on Monday, January 13th. Mizuho dropped their price target on shares of Essex Property Trust from $325.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, JMP Securities restated a “market perform” rating on shares of Essex Property Trust in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $305.53.

Essex Property Trust Stock Performance

NYSE ESS opened at $283.20 on Tuesday. The business’s 50-day simple moving average is $293.18 and its 200-day simple moving average is $291.96. The firm has a market capitalization of $18.20 billion, a P/E ratio of 33.08, a P/E/G ratio of 5.43 and a beta of 0.92. Essex Property Trust has a 1-year low of $223.06 and a 1-year high of $317.73. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.14 and a quick ratio of 1.14.

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

Institutional Trading of Essex Property Trust

Several large investors have recently modified their holdings of ESS. Aurora Investment Managers LLC. raised its stake in Essex Property Trust by 5.8% during the 4th quarter. Aurora Investment Managers LLC. now owns 13,194 shares of the real estate investment trust’s stock worth $3,766,000 after acquiring an additional 719 shares during the period. UMB Bank n.a. raised its position in shares of Essex Property Trust by 37.5% during the fourth quarter. UMB Bank n.a. now owns 154 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 42 shares during the last quarter. Diversify Wealth Management LLC boosted its position in shares of Essex Property Trust by 77.9% during the fourth quarter. Diversify Wealth Management LLC now owns 13,528 shares of the real estate investment trust’s stock worth $3,678,000 after acquiring an additional 5,924 shares during the last quarter. LVW Advisors LLC purchased a new position in Essex Property Trust during the fourth quarter valued at $252,000. Finally, Aaron Wealth Advisors LLC increased its holdings in Essex Property Trust by 15.7% in the 4th quarter. Aaron Wealth Advisors LLC now owns 1,236 shares of the real estate investment trust’s stock valued at $353,000 after acquiring an additional 168 shares during the last quarter. Institutional investors own 96.51% of the company’s stock.

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.