In a filing, Essex Property Trust, Inc. revealed its Director ROBINSON THOMAS E unloaded Company’s shares for reported $0.68 million on Mar 11 ’24. In the deal valued at $243.92 per share,2,781 shares were sold. As a result of this transaction, ROBINSON THOMAS E now holds 3,654 shares worth roughly $0.91 million.
Then, LYONS IRVING F III sold 2,083 shares, generating $480,965 in total proceeds. Upon selling the shares at $230.90, the Director now owns 8,570 shares.
BofA Securities upgraded its Essex Property Trust, Inc. [ESS] rating to a Buy from a a Neutral in a research note published on April 01, 2024; the price target was increased to $275 from $250. A number of analysts have revised their coverage, including Raymond James’s analysts, who increased its forecast for the stock in mid March from “a Mkt perform” to “an Outperform”. Mizuho also remained covering ESS and has increased its forecast on February 28, 2024 with a “Buy” recommendation from previously “Neutral” rating.
Price Performance Review of ESS
On Tuesday, Essex Property Trust, Inc. [NYSE:ESS] saw its stock jump 2.50% to $249.59. Over the last five days, the stock has gained 5.98%. Essex Property Trust, Inc. shares have risen nearly 0.67% since the year began. Nevertheless, the stocks have risen 19.00% over the past one year. While a 52-week high of $252.85 was reached on 01/12/24, a 52-week low of $203.85 was recorded on 02/13/24. SMA at 50 days reached $236.44, while 200 days put it at $231.22. A total of 0.32 million shares were traded, compared to the trading of 0.25 million shares in the previous session.
Levels Of Support And Resistance For ESS Stock
The 24-hour chart illustrates a support level at 246.03, which if violated will result in even more drops to 242.48. On the upside, there is a resistance level at 251.44. A further resistance level may holdings at 253.30. The Relative Strength Index (RSI) on the 14-day chart is 62.24, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.90, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 0.90%. Stochastics %K at 70.40% indicates the stock is a holding.
How much short interest is there in Essex Property Trust, Inc.?
A steep rise in short interest was recorded in Essex Property Trust, Inc. stocks on Mar 15, 2024, dropping by -0.13 million shares to a total of 1.34 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 1.47 million shares. There was a decline of -9.7%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.42% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.95.
The most recent change occurred on January 30, 2024 when Deutsche Bank began covering the stock and recommended ‘”a Hold”‘ rating along with a $240 price target.
