Morgan Stanley Maintains Their Hold Rating on Essex Property (ESS)

In a report released yesterday, Richard Hill from Morgan Stanley maintained a Hold rating on Essex Property (ESSResearch Report), with a price target of $335.00. The company’s shares closed last Tuesday at $318.19.

According to TipRanks.com, Hill is a 3-star analyst with an average return of 3.9% and a 63.5% success rate. Hill covers the Financial sector, focusing on stocks such as Cushman & Wakefield, Equity Residential, and Physicians Realty.

Essex Property has an analyst consensus of Moderate Buy, with a price target consensus of $366.43, implying a 14.6% upside from current levels. In a report issued on February 7, JMP Securities also reiterated a Hold rating on the stock.

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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 34 insiders, corporate insider sentiment is neutral on the stock. Most recently, in December 2021, George Marcus, a Director at ESS bought 41,814 shares for a total of $9,523,595.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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