Essex Property (ESS) Gets a Buy Rating from BMO Capital

BMO Capital analyst John Kim maintained a Buy rating on Essex Property (ESSResearch Report) today and set a price target of $378.00. The company’s shares closed last Tuesday at $344.74.

According to TipRanks.com, Kim is a 4-star analyst with an average return of 4.1% and a 56.2% success rate. Kim covers the Financial sector, focusing on stocks such as Easterly Government Properties, National Health Investors, and Plymouth Industrial Reit.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Essex Property with a $368.14 average price target, representing a 5.9% upside. In a report issued on April 21, RBC Capital also maintained a Buy rating on the stock with a $374.00 price target.

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Based on Essex Property’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $372 million and net profit of $137 million. In comparison, last year the company earned revenue of $362 million and had a net profit of $95.75 million.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is neutral on the stock.

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Essex Property Trust, Inc. operates as a real estate investment trust. It engages in the ownership, operation, management, acquisition, development, and redevelopment of predominantly apartment communities. The company was founded by George M. Marcus in 1971 and is headquartered in San Mateo, CA.

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