In a report released today, Jeffrey Donnelly from Wells Fargo maintained a Hold rating on Essex Property Trust (NYSE: ESS). The company’s shares opened today at $237.02.
According to TipRanks.com, Donnelly is a 4-star analyst with an average return of 14.7% and a 71.8% success rate. Donnelly covers the Financial sector, focusing on stocks such as Hospitality Properties, VICI Properties Inc, and Simon Property.
Currently, the analyst consensus on Essex Property Trust is a Moderate Buy with an average price target of $263.80, an 11.3% upside from current levels. In a report issued on August 5, Mizuho Securities also reiterated a Hold rating on the stock with a $263 price target.
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Based on Essex Property Trust’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $100 million. In comparison, last year the company had a net profit of $70.76 million.
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Essex Property Trust, Inc. operates as a real estate investment trust, which 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.
