BTIG Believes Essex Property (ESS) Still Has Room to Grow


In a report issued on April 27, James W Sullivan from BTIG reiterated a Buy rating on Essex Property (ESS), with a price target of $296.00. The company’s shares closed last Wednesday at $286.97, close to its 52-week high of $300.74.

According to TipRanks.com, Sullivan is a 4-star analyst with an average return of 11.2% and a 65.2% success rate. Sullivan covers the Financial sector, focusing on stocks such as Bluerock Residential Growth, Host Hotels & Resorts, and Mid-America Apartment.

Essex Property has an analyst consensus of Moderate Buy, with a price target consensus of $301.10, which is a 1.7% upside from current levels. In a report issued on April 13, RBC Capital also maintained a Buy rating on the stock with a $301.00 price target.

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Essex Property’s market cap is currently $18.65B and has a P/E ratio of 34.30. The company has a Price to Book ratio of 3.22.

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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.

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