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Essex Property (ESS) Receives a Hold from BMO Capital

In a report released today, John Kim from BMO Capital maintained a Hold rating on Essex Property (ESSResearch Report), with a price target of $320.00. The company’s shares closed last Tuesday at $273.69.

According to TipRanks.com, Kim is a 4-star analyst with an average return of 2.3% and a 51.2% success rate. Kim covers the Financial sector, focusing on stocks such as Easterly Government Properties, Hudson Pacific Properties, and National Health Investors.

Essex Property has an analyst consensus of Moderate Buy, with a price target consensus of $305.28, implying an 11.4% upside from current levels. In a report issued on July 15, Morgan Stanley also maintained a Hold rating on the stock with a $270.00 price target.

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Based on Essex Property’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $382 million and net profit of $73.25 million. In comparison, last year the company earned revenue of $355 million and had a net profit of $168 million.

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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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