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Essex Property Trust Inc (NYSE:ESS) has been downgraded to Neutral in a report by Bank of America Corp. today.

Yesterday Essex Property Trust Inc (NYSE:ESS) traded 0.58% higher at $214.28. The company’s 50-day moving average is $212.24 and its 200-day moving average is $221.49. The last stock close price is down -3.91% from the 200-day moving average, compared to the S&P 500 which has decreased -0.03% over the same time. 148,757 shares of the stock were exchanged, down from an average trading volume of 417,928

Bank of America Corp. has downgraded Essex Property Trust Inc (NYSE:ESS) to Neutral in a report released on 11/23/2016.

Previously on Friday March 04, 2016, Suntrust Robinson reported about Essex Property Trust Inc (NYSE:ESS) lowered the target price from $262.00 to $257.00. At the time, this indicated a possible upside of 0.16%.

See Chart Below

Essex Property Trust Inc (NYSE:ESS)

Essex Property Trust Inc has a 52 week low of $191.25 and a 52 week high of $244.71 with a P/E ratio of 47.23 The company’s market cap is currently $0.

In addition to Bank of America Corp. reporting its target price, a total of 24 firms have reported on the stock. The consensus target price is $245.46 with 4 firms rating the stock a strong buy, 8 firms rating the stock a buy, 16 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.

About Essex Property Trust Inc (NYSE:ESS)

Essex Property Trust, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. (the Operating Partnership). The Company is engaged in the ownership, operation, management, acquisition, development and redevelopment of apartment communities. Its segments are Southern California, Northern California and Seattle Metro. The Company owns or holds an interest in over 250 communities, aggregating approximately 59,160 apartment homes, located along the West Coast, as well as over four commercial buildings (totaling approximately 319,080 square feet), and over eight active development projects with approximately 2,450 apartment homes in various stages of development. It invests primarily in apartment communities located in predominantly coastal markets within Southern California, the San Francisco Bay Area and the Seattle metropolitan area.

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