Essex Property Trust Gets a Hold Rating from Jefferies

By Austin Angelo

In a report released today, Omotayo Okusanya from Jefferies reiterated a Hold rating on Essex Property Trust (NYSE: ESS), with a price target of $234. The company’s shares closed last Friday at $256.30, close to its 52-week high of $258.10.

According to, Okusanya is a 4-star analyst with an average return of 5.4% and a 58.2% success rate. Okusanya covers the Financial sector, focusing on stocks such as Government Properties Income Trust, National Storage Affiliates Trust, and Retail Properties of America Inc.

Currently, the analyst consensus on Essex Property Trust is Moderate Buy and the average price target is $259.13, representing a 1.1% upside.

In a report issued on May 18, SunTrust Robinson also downgraded the stock to Hold with a $257 price target.

Essex Property Trust’s market cap is currently $16.81B and has a P/E ratio of 32.90. The company has a book value ratio of 2.6829.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Janice Sears, a Director at ESS sold 3,000 shares for a total of $761,760.

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Essex Property Trust, Inc. operates as a real estate investment trust, which 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.