Essex Property Trust (ESS) Receives a Hold from Jefferies


Jefferies analyst Omotayo Okusanya reiterated a Hold rating on Essex Property Trust (NYSE: ESS) on September 27 and set a price target of $247. The company’s shares closed on Friday at $246.71.

According to TipRanks.com, Okusanya is a 4-star analyst with an average return of 7.6% and a 61.7% success rate. Okusanya covers the Financial sector, focusing on stocks such as Apartment Investment & Management, Senior Housing Properties Trust, and Retail Opportunity Investments.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Essex Property Trust with a $261 average price target, representing a 5.8% upside. In a report issued on September 14, Citigroup also downgraded the stock to Hold with a $260 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.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Kleiman Angela L., the EVP & CFO of ESS sold 750 shares for a total of $180,600.

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, 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.

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