Essex Property Trust (ESS) Receives a Hold from Mizuho Securities


In a report released yesterday, Richard Anderson from Mizuho Securities reiterated a Hold rating on Essex Property Trust (NYSE: ESS), with a price target of $263. The company’s shares closed on Friday at $242.41.

According to TipRanks.com, Anderson is a 4-star analyst with an average return of 6.3% and a 73.3% success rate. Anderson covers the Financial sector, focusing on stocks such as Apartment Investment & Management, First Industrial Realty Trust, and Hudson Pacific Properties.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Essex Property Trust with a $259.71 average price target, implying a 7.1% upside from current levels. In a report issued on July 23, Raymond James also upgraded the stock to Hold.

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Essex Property Trust’s market cap is currently $16.01B and has a P/E ratio of 42.68. The company has a Price to Book ratio of 2.52.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, John Burkart, the SEVP of ESS sold 2,500 shares for a total of $607,985.

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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