Barclays Believes Essex Property Trust (ESS) Won’t Stop Here


In a report released yesterday, Ross L Smotrich from Barclays maintained a Buy rating on Essex Property Trust (ESS), with a price target of $303. The company’s shares opened today at $290.10, close to its 52-week high of $291.23.

According to TipRanks.com, Smotrich is a 5-star analyst with an average return of 7.4% and a 67.7% success rate. Smotrich covers the Financial sector, focusing on stocks such as Essential Properties Realty Trust Inc, Pennsylvania Real Estate Investment, and Apartment Investment & Management.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Essex Property Trust with a $284.40 average price target.

See today’s analyst top recommended stocks >>

Based on Essex Property Trust’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $118 million. In comparison, last year the company had a net profit of $104 million.

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. Last month, John Eudy, the EVP of ESS sold 3,750 shares for a total of $1,035,225.

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.