ESS Stock Summary and Trading Ideas (Essex Property Trust | NYSE:ESS)

Essex Property Trust owns a portfolio of 252 apartment communities with over 62,000 units and is developing another property with 264 units. The company focuses on owning large, high-quality properties on the West Coast in the urban and suburban submarkets of Southern California, Northern California, and Seattle.

Essex Property Trust trades on the NYSE stock market under the symbol ESS.

As of April 24, 2024, ESS stock price climbed to $247.74 with 378,290 million shares trading.

ESS has a beta of 0.97, meaning it tends to be less sensitive to market movements. ESS has a correlation of 0.25 to the broad based SPY ETF.

ESS has a market cap of $15.90 billion. This is considered a Large Cap stock.

Last quarter Essex Property Trust reported $413 million in Revenue and $3.83 earnings per share. This fell short of revenue expectation by $-7 million and exceeded earnings estimates by $.02.

In the last 3 years, ESS stock traded as high as $363.36 and as low as $195.03.

The top ETF exchange traded funds that ESS belongs to (by Net Assets): VNQ, VTI, VOO, VO, SDY.

ESS stock has underperformed the market in the last year with a return of +21.0%, while SPY returned +24.2%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in ESS shares. However, ESS has outperformed the market in the last 3 month and 2 week periods, returning +4.8% and -0.7%, while SPY returned +4.6% and -2.7%, respectively. This indicates ESS has been having a stronger performance recently.

ESS support price is $238.34 and resistance is $245.96 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ESS stock will trade within this expected range on the day.