In a report released on December 14, Brad Heffern from RBC Capital maintained a Buy rating on Essex Property (ESS – Research Report), with a price target of $250.00. The company’s shares closed yesterday at $212.12.
According to TipRanks, Heffern is a 5-star analyst with an average return of 14.5% and a 46.67% success rate.
In addition to RBC Capital, Essex Property also received a Buy from KeyBanc’s Austin Wurschmidt in a report issued on December 7. However, yesterday, J.P. Morgan downgraded Essex Property (NYSE: ESS) to a Hold.
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Based on Essex Property’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $409.75 million and a net profit of $92.84 million. In comparison, last year the company earned a revenue of $362.86 million and had a net profit of $118.39 million
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ESS in relation to earlier this year.
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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.
Read More on ESS:
- Essex Property Trust initiated with a Neutral at UBS
- Essex Property Trust downgraded at Janney on more cautious apartment REITs view
- Essex Property Trust downgraded to Neutral from Buy at Janney Montgomery Scott
- Essex Property Trust downgraded to Sector Weight from Overweight at KeyBanc
- Essex Property Trust price target lowered to $240 from $314 at KeyBanc