Economy

Evercore ISI Group Upgrades Rating On Essex Property Trust, Inc. (ESS)

The stock of Essex Property Trust Inc (ESS) shows a multiple tops pattern with $262.65 target or 3.00 % above today's $255.00 share price. Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0.05% invested in Essex Property Trust Inc (NYSE:ESS).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LPT.

Camden Property Trust (CPT) closed its previous trading session at $93 with the loss of -0.46%. Virtu KCG Holdings LLC bought a new position in shares of Liberty Property Trust during the second quarter valued at $212,000. The value of the investment in Gramercy Property Trust went from $17,000 to $32,000 increasing 88.2% quarter over quarter. Sawtooth Solutions LLC lifted its position in Camden Property Trust by 2.7% during the second quarter. Short shares grew from 1,910,351 to 1,911,360 over that period. Finally, Vanguard Group Inc. grew its position in Gramercy Property Trust by 6.5% in the second quarter.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $339.06 million for the quarter, compared to analysts' expectations of $336.17 million.

Camden Property Trust has a beta of 0.73, offering the possibility of a higher rate of return, but also posing more risk. Gramercy Property Trust's revenue was down 5.7% on a year-over-year basis.

An earnings forecast is an analyst's outlook for a company's future quarterly or annual earnings. The ex-dividend date has been established as Wednesday the 28th of June 2017. This represents a $7.00 annualized dividend and a dividend yield of 2.75%.

A number of research firms recently commented on CPT. Stifel Nicolaus reissued a "buy" rating and issued a $44.00 price target on shares of Liberty Property Trust in a research note on Thursday, July 6th.

08/22/2014 - Liberty Property Trust was downgraded to "market perform" by analysts at BMO Capital Markets. Zacks Investment Research cut shares of Liberty Property Trust from a "buy" rating to a "hold" rating in a report on Monday, September 4th. BidaskClub cut Gramercy Property Trust from a "buy" rating to a "hold" rating in a research report on Monday, July 3rd.

In terms of Camden Property Trust (CPT) stock price comparison to its moving averages, shares of company are 3.07% away from the 50-day moving average and 0.71% away from 20-day average.

Among 24 analysts covering Essex Property Trust (NYSE:ESS), 9 have Buy rating, 2 Sell and 13 Hold. The company now has an average rating of "Hold" and a consensus price target of $268.07.

COPYRIGHT VIOLATION NOTICE: This story was first reported by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and global copyright and trademark law. The Business's operating segments include Investments/Corporate and Asset Management. The company was downgraded on Tuesday, January 12 by Cowen & Co. The shares were sold at an average price of $89.77, for a total value of $290,316.18. Creative Planning owns 0.01% invested in Essex Property Trust Inc (NYSE:ESS) for 4,310 shares. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The shares were sold at an average price of $263.37, for a total transaction of $649,470.42. Following the completion of the sale, the executive vice president now owns 71,836 shares of the company's stock, valued at approximately $6,447,999.36. Insiders have sold a total of 118,584 shares of company stock valued at $10,618,035 in the last 90 days. The expected ESS's profit could reach $196.02 million giving the stock 21.46 P/E in the case that $2.97 earnings per share is reported.

Gramercy Property Trust, launched on March 30, 2004, is a real estate investment trust (REIT), which is an investor and asset manager of commercial real estate. The Firm is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. As of December 31, 2016, the Company owned interests in, operated, or were developing 159 multifamily properties, which consisted of 55,366 apartment homes across the United States. (NYSE:GPT) belongs to Financial sector, other than individual factors many other macro and micro factors also effects whole sector and industries.



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