Raymond James Upgrades Essex Property Trust to 'Buy'
Raymond James analyst Buck Horne upgraded Essex Property Trust to 'buy' with a $320 price target, a 8.13% upside from the current price.
Key Points
- Raymond James analyst Buck Horne upgraded Essex Property Trust, Inc. (ESS) to 'buy' on June 26, 2026, with a new price target of $320.
- Raymond James's $320 price target implies 8.13% upside from Essex Property Trust, Inc.'s ($ESS) current $295.93 share price.
- Shares of NYSE:ESS traded near $285.57 on Friday, with a market cap of approximately $18.35 billion and a P/E ratio of 32.16.
- Essex Property Trust is a real estate investment trust focused on multifamily residential properties on the West Coast.
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Raymond James has upgraded Essex Property Trust, Inc. (NYSE:ESS) to a 'buy' rating, setting a new price target of $320. The upgrade was announced on June 26, 2026, by analyst Buck Horne. As of Friday, shares of Essex Property Trust were trading around $285.57.
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Essex Property Trust, Inc. Stock Up 4.2%
Shares of Essex Property Trust, Inc. (NYSE:ESS) traded near $285.57 on Friday. The company, a real estate investment trust (REIT) focused on residential properties, has a market cap of about $18.35 billion. Its P/E ratio stands at 32.16, with a forward P/E of 47.41, and a beta of 0.729. Over the past 52 weeks, the stock has ranged from $238.46 to $294.09. The 50-day moving average is $270.88, while the 200-day moving average is $259.99. Essex's current ratio is 0.3, with a quick ratio of 0.063 and a debt-to-equity ratio of 121.856.
$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 approximately $1.97 billion, with a growth rate of 6.4%. The company's net margin is 29.13%, and it has a return on equity (ROE) of 10.56%. The next earnings report is scheduled for July 28, 2026.
Dividend
The company offers an annual dividend rate of $10.36, yielding 3.63%. Its dividend payout ratio is 115.86%, with the most recent ex-dividend date not specified.
Insider Buying and Selling at Essex Property Trust, Inc.
On May 27, 2026, insider Mary Kasaris sold 600 shares at an average price of $279.45. Earlier, on May 12, 2026, several insiders, including John Arabia, Irving Lyons III, George Marcus, Mary Kasaris, and Anne Gust, each acquired 633 shares, although the transaction prices were not specified.
Analysts Set New Price Targets
On June 26, 2026, Raymond James upgraded Essex Property Trust to a 'buy' with a $320 price target. A day earlier, Morgan Stanley maintained a 'hold' rating with a $302 target. Other recent ratings include Scotiabank's 'buy' at $290 on June 18 and Mizuho's 'buy' at $308 on June 10. The consensus recommendation is 'hold', with a mean target price of $287.24 among 23 analysts.
About Essex Property Trust
Essex Property Trust, Inc. is a real estate investment trust that focuses on acquiring, developing, and managing multifamily residential properties in West Coast markets. Headquartered in San Mateo, California, the company is part of the S&P 500 and has ownership interests in 259 apartment communities. Essex was incorporated in Maryland in 1971 and employs about 1,686 people under the leadership of CEO Angela L. Kleiman.
Bottom Line
Raymond James's upgrade of Essex Property Trust to 'buy' reflects a positive outlook for the company, with a new price target of $320. Investors keep a close eye on analyst ratings for insights into potential stock performance. As always, remember that these ratings are based on backward-looking data and should be considered as part of a broader investment strategy.
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