Essex Property Trust (ESS) to Release Quarterly Earnings on Tuesday

Essex Property Trust (NYSE:ESS) will be posting its quarterly earnings results after the market closes on Tuesday, October 29th. Analysts expect Essex Property Trust to post earnings of $3.88 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Essex Property Trust (NYSE:ESS) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $3.85 by ($2.40). Essex Property Trust had a net margin of 30.31% and a return on equity of 9.14%. The company had revenue of $442.36 million during the quarter, compared to analyst estimates of $433.26 million. During the same period in the previous year, the company earned $3.77 EPS. On average, analysts expect Essex Property Trust to post $16 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Essex Property Trust Price Performance

Shares of ESS opened at $291.36 on Tuesday. The firm has a 50-day simple moving average of $296.74 and a two-hundred day simple moving average of $276.54. The stock has a market cap of $18.71 billion, a PE ratio of 35.62, a P/E/G ratio of 5.21 and a beta of 0.88. Essex Property Trust has a 1-year low of $203.85 and a 1-year high of $317.73. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.62 and a quick ratio of 1.62.

Essex Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $2.45 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.36%. Essex Property Trust’s payout ratio is currently 119.80%.

Analysts Set New Price Targets

A number of research analysts have commented on ESS shares. The Goldman Sachs Group initiated coverage on Essex Property Trust in a research note on Wednesday, September 4th. They set a “neutral” rating and a $318.00 price target on the stock. JPMorgan Chase & Co. raised their target price on Essex Property Trust from $265.00 to $297.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Raymond James downgraded Essex Property Trust from an “outperform” rating to a “market perform” rating in a research report on Monday. BNP Paribas started coverage on shares of Essex Property Trust in a research report on Wednesday, September 11th. They set an “outperform” rating and a $333.00 price target on the stock. Finally, Bank of America cut shares of Essex Property Trust from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $307.00 to $321.00 in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Essex Property Trust has an average rating of “Hold” and an average target price of $293.40.

Insider Buying and Selling at Essex Property Trust

In other news, CAO Anne Morrison sold 2,571 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $314.79, for a total transaction of $809,325.09. Following the completion of the transaction, the chief accounting officer now directly owns 2,321 shares of the company’s stock, valued at approximately $730,627.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Amal M. Johnson sold 2,453 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $300.00, for a total value of $735,900.00. Following the transaction, the director now directly owns 2,585 shares of the company’s stock, valued at $775,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Anne Morrison sold 2,571 shares of Essex Property Trust stock in a transaction on Monday, September 16th. The stock was sold at an average price of $314.79, for a total transaction of $809,325.09. Following the sale, the chief accounting officer now owns 2,321 shares in the company, valued at $730,627.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,402 shares of company stock worth $6,399,663 over the last ninety days. Corporate insiders own 3.80% of the company’s stock.

Essex Property Trust Company Profile

Essex Property Trust, Inc, an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.