Essex Property Trust, Inc (NYSE:ESS) price on Friday, March 21, fall -0.67% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $300.06.
A look at the stock’s price movement, the close in the last trading session was $302.08, moving within a range at $297.415 and $303.51. The beta value (5-Year monthly) was 0.92 while the PE ratio in trailing twelve months stood at 26.00. Turning to its 52-week performance, $317.73 and $230.90 were the 52-week high and 52-week low respectively. Overall, ESS moved 1.92% over the past month.
Essex Property Trust, Inc’s market cap currently stands at around $19.98 billion, with investors looking forward to this quarter’s earnings report slated for on 2025-Feb-03. The company has a Forward Dividend ratio of 9.80, with its dividend yield at 3.27%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 458.03M for the company’s revenue for the quarter, with a low and high estimate of 453.86M and 467.39M respectively. The average forecast suggests up to a 7.97% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.86B, representing a 5.71% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ESS is a 50% Buy. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
13 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 10 recommend ESS as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ESS’s current price about -0.33% and 2.81% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 53.30, while 7-day volatility ratio is 2.30% and 2.15% in the 30-day chart. Further, Essex Property Trust, Inc (ESS) has a beta value of 0.81, and an average true range (ATR) of 6.68. Analysts have given the company’s stock an average 52-week price target of $310, forecast between a low of $302 and high of $321. Looking at the price targets, the low is -0.65% off current price level while to achieve the yearly target high, price needs to move -6.98%. Nonetheless, investors will most likely welcome a -3.31% jump to $310 which is the analysts’ median price.
If we refocus on Essex Property Trust, Inc (NYSE:ESS), historical trading data shows that trading volumes averaged 0.47 over the past 10 days and 446.32K over the past 3 months. The company’s latest data on shares outstanding shows there are 64.28 million shares.
The 0.78% of Essex Property Trust, Inc’s shares are in the hands of company insiders while institutional holders own 96.33% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 0.99 million on 2025-02-28, giving us a short ratio of 2.1. The data shows that as of 2025-02-28 short interest in Essex Property Trust, Inc (ESS) stood at 211.0 of shares outstanding, with shares short falling to 1.0 million registered in 2025-01-31. Current price change has pushed the stock 5.12% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ESS stock continues to rise going into the next quarter.
