Evercore ISI Reiterates Buy Rating for Essex Property Trust
Evercore ISI maintains its buy rating on Essex Property Trust with a $297 price target, a 1.86% upside from the current price.
Key Points
- Evercore ISI Group reaffirmed its buy rating on Essex Property Trust, Inc. (NYSE:ESS) with a target price of $297 on June 29, 2026.
- Evercore ISI Group's $297 price target implies 1.86% upside from Essex Property Trust, Inc.'s ($ESS) current $291.59 share price.
- Essex Property Trust traded near $295.34 on Monday, with a market cap of $18.98 billion and a P/E ratio of 33.22.
- Recent insider activity at Essex includes several purchases in May 2026, while analysts like Raymond James upgraded the stock to buy with a $320 target.
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Evercore ISI Group reaffirmed its buy rating on Essex Property Trust, Inc. (NYSE:ESS) on June 29, 2026. Analyst Steve Sakwa set a price target of $297, maintaining confidence in the real estate investment trust.
Evercore ISI Group vs. the S&P 500
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Essex Property Trust, Inc. Stock Up 2.7%
Shares of NYSE:ESS traded near $295.34 on Monday. Essex Property Trust, with a market cap of approximately $18.98 billion, has a P/E ratio of 33.22 and a forward P/E of 49.03. The stock's 52-week range is between $238.46 and $295.85. It has a 50-day moving average of $271.76 and a 200-day moving average of $260.13. The company's beta is 0.729, indicating lower volatility compared to the market.
$ESS price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Essex Property Trust reported revenue of about $1.97 billion, showing a growth of 6.4%. The company posted an EPS of $8.89, with a net margin of 29.13% and a return on equity of 10.56%. The next earnings report is expected on July 28, 2026.
Dividend
The company offers an annual dividend rate of $10.36, yielding 3.51%. Its dividend payout ratio is 115.86%, and the ex-dividend date was not provided.
Insider Buying and Selling at Essex Property Trust, Inc.
Recent insider activity at Essex Property Trust includes several purchases and one sale. On May 27, 2026, Mary Kasaris sold 600 shares at an average price of $279.45. On May 12, 2026, insiders including John Arabia, Irving Lyons III, George Marcus, and others each bought 633 shares at undisclosed prices.
Analysts Set New Price Targets
On June 29, 2026, Evercore ISI Group maintained its buy rating and set a $297 price target. Raymond James upgraded the stock to a buy with a $320 target on June 26, 2026. Other firms like Morgan Stanley, Scotiabank, and Mizuho also maintained their ratings, with price targets ranging from $290 to $308. The consensus among 24 analysts is to hold, with a mean target price of $288.60.
About Essex Property Trust
Essex Property Trust, Inc. is a real estate investment trust that acquires, develops, and manages multifamily residential properties on the West Coast. Headquartered in San Mateo, California, the company is led by CEO Angela L. Kleiman and employs 1,686 people. Essex owns stakes in 259 apartment communities, encompassing over 63,000 apartment homes.
Bottom Line
Evercore ISI's reiteration of a buy rating for Essex Property Trust reflects ongoing confidence in the company's West Coast residential property portfolio. Investors keep an eye on such analyst opinions, though it's important to remember these ratings are just one piece of the puzzle. As always, 13F filings and analyst reports are historical and may not represent current positions or market conditions.
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