Essex Property Trust Inc. [ESS] is -39.91% lower this YTD. Is it still time to buy?

Essex Property Trust Inc. [NYSE: ESS] traded at a high on 12/23/22, posting a 1.30 gain after which it closed the day’ session at $211.65. The company report on December 9, 2022 that Essex Property Trust Declares Quarterly Distributions.


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Essex Property Trust, Inc. (NYSE:ESS) announced today that its Board of Directors has declared a regular quarterly cash dividend of $2.20 per common share, payable January 13, 2023 to shareholders of record as of January 3, 2023.

The results of the trading session contributed to over 291225 shares changing hands. Over the past one week, the price volatility of Essex Property Trust Inc. stands at 1.91% while the volatility over the past one month is 2.15%.

The market cap for ESS stock reached $13.53 billion, with 65.06 million shares outstanding and 63.98 million shares in the current float. Compared to the average trading volume of 583.14K shares, ESS reached a trading volume of 291225 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Essex Property Trust Inc. [ESS]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ESS shares is $244.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ESS stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Essex Property Trust Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 16, 2022. While these analysts kept the previous recommendation, UBS raised their target price to Neutral. The new note on the price target was released on December 15, 2022, representing the official price target for Essex Property Trust Inc. stock.

The Average True Range (ATR) for Essex Property Trust Inc. is set at 4.73, with the Price to Sales ratio for ESS stock in the period of the last 12 months amounting to 8.65. The Price to Book ratio for the last quarter was 2.41, with the Price to Cash per share for the same quarter was set at 0.67. Price to Free Cash Flow for ESS in the course of the last twelve months was 32.05.

How has ESS stock performed recently?

Essex Property Trust Inc. [ESS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.22. With this latest performance, ESS shares dropped by -0.10% in over the last four-week period, additionally sinking by -20.51% over the last 6 months – not to mention a drop of -38.24% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ESS stock in for the last two-week period is set at 45.71, with the RSI for the last a single of trading hit 46.27, and the three-weeks RSI is set at 44.73 for Essex Property Trust Inc. [ESS]. The present Moving Average for the last 50 days of trading for this stock 216.88, while it was recorded at 209.10 for the last single week of trading, and 270.60 for the last 200 days.

Essex Property Trust Inc. [ESS]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Essex Property Trust Inc. [ESS] shares currently have an operating margin of +28.25 and a Gross Margin at +30.48. Essex Property Trust Inc.’s Net Margin is presently recorded at +33.91.

Return on Equity for this stock inclined to 8.15, with Return on Assets sitting at 3.77.

Earnings analysis for Essex Property Trust Inc. [ESS]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ESS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Essex Property Trust Inc. go to 7.90%.

Insider trade positions for Essex Property Trust Inc. [ESS]

There are presently around $13,128 million, or 97.50% of ESS stock, in the hands of institutional investors. The top three institutional holders of ESS stocks are: VANGUARD GROUP INC with ownership of 10,735,177, which is approximately 0.779% of the company’s market cap and around 1.19% of the total institutional ownership; BLACKROCK INC., holding 6,818,919 shares of the stock with an approximate value of $1.44 billion in ESS stocks shares; and STATE STREET CORP, currently with $1.17 billion in ESS stock with ownership of nearly 6.04% of the company’s market capitalization.

Positions in Essex Property Trust Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 234 institutional holders increased their position in Essex Property Trust Inc. [NYSE:ESS] by around 4,503,461 shares. Additionally, 262 investors decreased positions by around 4,371,897 shares, while 95 investors held positions by with 53,151,203 shares. The mentioned changes placed institutional holdings at 62,026,561 shares, according to the latest SEC report filing. ESS stock had 39 new institutional investments in for a total of 617,512 shares, while 62 institutional investors sold positions of 640,393 shares during the same period.

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