Piper Sandler Cuts ESS Price Target to $326

Piper Sandler keeps its Overweight rating on Essex Property Trust, setting a target price of $326 on October 12, 2026, a 21.38% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:23 PM EDT

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Piper Sandler cut its price target on Essex Property Trust, Inc. ($ESS) to $326 from $352 on October 12, 2026, and rates the stock "Overweight".

Since the rating, $ESS is down 0.4% to date (from the $270.39 close on Oct 12, 2026).

ESS Essex Property Trust, Inc.

$269.43 +7.97% year to date

Daily close · Oct 16, 2026

Key Points

Piper Sandler maintained its Overweight rating on Essex Property Trust, Inc. with a new price target of $326 on October 12, 2026.
Piper Sandler's $326 price target implies 21.38% upside from Essex Property Trust, Inc.'s ($ESS) current $268.58 share price.
The stock recently traded around $268.58, which is 17.6% below Piper Sandler's target price.
Essex Property Trust has a trailing twelve-month revenue of about $1.98 billion and a dividend rate of $10.36.

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Piper Sandler has reiterated its Overweight rating on Essex Property Trust, Inc. (ESS) with a new price target of $326. This updated target is a decrease from the previous target of $352. The firm made this announcement on October 12, 2026.

Other Institutional Activity in Essex Property Trust

Several other institutional investors hold significant stakes in Essex Property Trust. Blackrock Inc. grew its holdings by 174,852 shares, totaling 7,430,141 shares worth about $2.00 billion. Cohen & Steers Inc. added 71,676 shares, bringing its total to 4,914,673 shares valued at approximately $1.32 billion. Meanwhile, State Street Corporation trimmed its position by 13,586 shares, ending with 5,211,810 shares worth around $1.40 billion.

Essex Property Trust, Inc. Stock Down 0.5%

Essex Property Trust shares recently traded around $268.58, which is 17.6% below Piper Sandler's target price of $326. This position shows the stock is currently undervalued based on the analyst's expectations. The stock has been performing in the real estate sector, which has its ups and downs, especially in the multifamily residential market.

12-month forecast

$ESS price target

Essex Property Trust, Inc. daily closes and this analyst's $326 target. Not advice.

Recent Earnings

In its trailing twelve months, Essex Property Trust reported revenue of approximately $1.98 billion and an earnings per share (EPS) of $6.43. The company has a net margin of 20.9% and a return on equity (ROE) of 7.7%. Their next earnings report is scheduled for October 27, 2026.

Insider Buying and Selling at Essex Property Trust, Inc.

Insider Mary Kasaris, a Director at Essex Property Trust, sold 2,800 shares at an average price of $300.80 on March 11, 2025, totaling about $842,240. Earlier, she also sold 600 shares at $279.45 on May 27, 2026, valued at around $167,670.

Analysts Set New Price Targets

On October 12, 2026, Piper Sandler reiterated its Overweight rating for Essex Property Trust, setting a price target of $326. This follows a trend of varying ratings from other analysts, with Barclays maintaining an Equal-Weight rating and a target of $297, and Mizuho downgrading to Neutral with a target of $295.

About Essex Property Trust

Essex Property Trust, Inc. is a real estate investment trust (REIT) that focuses on acquiring, developing, and managing multifamily residential properties, primarily on the West Coast. The company owns interests in 258 apartment communities, totaling over 62,000 homes. Founded in 1971 and based in San Mateo, California, Essex is part of the S&P 500.

Bottom Line

Investors will want to keep an eye on Essex Property Trust's upcoming earnings report on October 27, 2026. With Piper Sandler's recent target adjustment, the stock's performance in the near term will be crucial to watch, especially given its current trading position relative to the analyst's expectations.