Scotiabank Reiterates Buy Rating on Essex Property Trust
Scotiabank maintains its buy rating for Essex Property Trust with a target price of $290, a 3.83% upside from the current price.
Key Points
- Scotiabank reiterated its buy rating on Essex Property Trust, setting a target price of $290 on June 18, 2026.
- Scotiabank's $290 price target implies 3.83% upside from Essex Property Trust, Inc.'s ($ESS) current $279.30 share price.
- Essex Property Trust, trading at $274.4, has a market cap of $17.63 billion and a P/E ratio of 30.87.
- Insiders, including Mary Kasaris, have been active, with recent transactions showing both buying and selling activities.
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Scotiabank has reiterated its buy rating for Essex Property Trust, Inc. (NYSE: ESS), setting a price target of $290. This decision was announced on June 18, 2026. Essex Property Trust shares were trading around $274.4 at the time of the report.
Essex Property Trust, Inc. Stock Down 1.7%
Shares of NYSE:ESS traded near $274.4. Essex Property Trust has a market cap of approximately $17.63 billion, with a P/E ratio of 30.87 and a forward P/E of 45.55. The stock has a 52-week low of $238.46 and a high of $294.09. Its 50-day moving average stands at $268.00, and the 200-day moving average is $259.62. The company carries a beta of 0.729, indicating lower volatility compared to the broader market.
$ESS price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Essex Property Trust reported revenues of about $1.97 billion, reflecting a growth rate of 6.4%. The company achieved a net margin of 29.1% and a return on equity of 10.6%. The next earnings report is expected on July 28, 2026.
Dividend
Essex Property Trust offers an annual dividend rate of $10.36, which translates to a yield of 3.69%. The dividend payout ratio is 115.86%, indicating the proportion of earnings paid out as dividends.
Insider Buying and Selling at Essex Property Trust, Inc.
Recent insider activity at Essex Property Trust includes several transactions. On May 27, 2026, Mary Kasaris sold 600 shares at an average price of $279.45. Earlier in May, insiders such as John Arabia, Irving Lyons III, George Marcus, Mary Kasaris, and Anne Gust collectively purchased shares without a specified price.
Analysts Set New Price Targets
On June 18, 2026, Scotiabank maintained its buy rating with a $290 target price. Mizuho also maintained a buy rating on June 10, with a target of $308. Evercore ISI Group upgraded the stock to buy with a $295 target on June 1, while Wells Fargo kept a hold rating with a $280 target on the same day. The consensus among analysts is a hold, with a mean target price of $286.5 based on 23 analyst opinions.
About Essex Property Trust, Inc.
Essex Property Trust, Inc. is a real estate investment trust (REIT) focused on acquiring, developing, and managing multifamily residential properties on the West Coast. Headquartered in San Mateo, California, and led by CEO Angela L. Kleiman, the company owns interests in 259 apartment communities, totaling over 63,000 apartment homes. Essex, which was incorporated in 1971, is part of the S&P 500 index.
Bottom Line
Scotiabank's reiterated buy rating and $290 target suggest confidence in Essex Property Trust's prospects. With a solid market presence and recent analyst support, the company remains a focal point for investors. Remember, 13F filings and analyst ratings are backward-looking and may not reflect the current market position.
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