RBC Capital Reaffirms Buy Rating on Essex Property (ESS) with $306 Price Target

RBC Capital has reaffirmed their Buy rating on Essex Property (ESS) with a price target of $306.00. Analyst Heffern has a Moderate Buy consensus rating with a price target consensus of $314.27, representing a 9.64% upside. ESS has a market cap of $18.99B and a P/E ratio of 27.44.

RBC Capital has reaffirmed its Buy rating on Essex Property Trust (NYSE: ESS), setting a price target of $306.00. The reaffirmation comes amidst a mixed analyst sentiment, with Heffern's Moderate Buy consensus rating and a price target consensus of $314.27, representing a 9.64% upside [2].

The market cap of Essex Property Trust stands at $18.99 billion, while the P/E ratio is 27.44. The company, an S&P 500 constituent, is a fully integrated real estate investment trust (REIT) that operates in selected West Coast markets, owning interests in 252 apartment communities comprising approximately 62,000 apartment homes [1].

Institutional investors and hedge funds own 96.51% of the company's stock, reflecting strong investor confidence. The stock has seen increased interest with several large investors boosting their stakes in the first quarter of 2025. Diversify Wealth Management LLC raised its position by 25.3%, while DoubleLine ETF Adviser LP, Gen Wealth Partners Inc, Sequoia Financial Advisors LLC, GF Fund Management CO. LTD, and Greenleaf Trust also increased their holdings [1].

Essex Property Trust's latest earnings report, released on April 29, 2025, showed earnings per share of $3.97, beating analysts' consensus estimates of $3.92. The company's net margin was 37.08%, and its return on equity was 11.81%. Revenue for the quarter was $464.58 million, compared to the consensus estimate of $458.03 million [1].

Analysts' ratings are varied, with two analysts rating the stock as a sell, ten issuing a hold rating, and eight assigning a buy rating. The average rating is "Hold," with a consensus target price of $310.28. Piper Sandler and Barclays have recently lowered their price targets, while Raymond James upgraded the stock to "Outperform" [1].

Essex Property Trust's quarterly dividend, paid on July 15, 2025, represents a $10.28 annualized dividend and a yield of 3.58%. The dividend payout ratio is 98.37% [1].

The company's stock has been trading within a range, with a 1-year low of $243.85 and a 1-year high of $317.73. The 50-day moving average is $283.35, and the 200-day moving average is $285.71. The current ratio and quick ratio are both 1.04, while the debt-to-equity ratio is 1.18 [1].

References:
[1] https://www.marketbeat.com/instant-alerts/filing-diversify-wealth-management-llc-has-520-million-position-in-essex-property-trust-inc-nyseess-2025-07-11/
[2] https://www.tipranks.com/stocks/ess/forecast