Research Analysts Offer Predictions for ESS FY2025 Earnings

Essex Property Trust, Inc. (NYSE:ESS) – Analysts at Wedbush reduced their FY2025 earnings estimates for shares of Essex Property Trust in a research report issued to clients and investors on Wednesday, November 6th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings of $16.08 per share for the year, down from their previous estimate of $16.44. Wedbush has a “Neutral” rating and a $301.00 price target on the stock. The consensus estimate for Essex Property Trust’s current full-year earnings is $15.56 per share.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.88 by ($2.04). The company had revenue of $450.70 million during the quarter, compared to analysts’ expectations of $445.88 million. Essex Property Trust had a net margin of 31.55% and a return on equity of 9.72%. During the same quarter last year, the firm posted $3.78 earnings per share.

Several other brokerages have also issued reports on ESS. JPMorgan Chase & Co. boosted their price objective on shares of Essex Property Trust from $265.00 to $297.00 and gave the company a “neutral” rating in a report on Monday, September 16th. The Goldman Sachs Group started coverage on shares of 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. Truist Financial boosted their price target on shares of Essex Property Trust from $282.00 to $294.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. BNP Paribas started coverage on shares of Essex Property Trust in a research note on Wednesday, September 11th. They set an “outperform” rating and a $333.00 price target on the stock. Finally, Scotiabank boosted their price target on shares of Essex Property Trust from $309.00 to $329.00 and gave the stock a “sector outperform” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $297.00.

Essex Property Trust Stock Up 2.7 %

Shares of ESS opened at $304.66 on Friday. The firm has a market cap of $19.58 billion, a P/E ratio of 35.59, a price-to-earnings-growth ratio of 5.31 and a beta of 0.88. Essex Property Trust has a 12-month low of $204.64 and a 12-month high of $317.73. The company’s 50-day moving average price is $297.47 and its 200 day moving average price is $281.33. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.13.

Essex Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Monday, September 30th. Essex Property Trust’s dividend payout ratio (DPR) is 114.49%.

Insider Activity at Essex Property Trust

In related news, Director Amal M. Johnson sold 2,453 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $300.00, for a total value of $735,900.00. Following the completion of the transaction, the director now directly owns 2,585 shares of the company’s stock, valued at $775,500. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Amal M. Johnson sold 2,453 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $300.00, for a total value of $735,900.00. Following the completion of the sale, the director now directly owns 2,585 shares of the company’s stock, valued at approximately $775,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amal M. Johnson sold 7,298 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $316.31, for a total value of $2,308,430.38. Following the completion of the sale, the director now directly owns 2,585 shares of the company’s stock, valued at $817,661.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,402 shares of company stock valued at $6,399,663 over the last three months. 3.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Essex Property Trust

Several large investors have recently modified their holdings of ESS. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Essex Property Trust by 10.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,109 shares of the real estate investment trust’s stock worth $3,625,000 after purchasing an additional 1,466 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Essex Property Trust by 6.5% during the first quarter. Nordea Investment Management AB now owns 4,381 shares of the real estate investment trust’s stock worth $1,071,000 after purchasing an additional 266 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Essex Property Trust by 30,700.0% during the first quarter. Larson Financial Group LLC now owns 308 shares of the real estate investment trust’s stock worth $75,000 after purchasing an additional 307 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Essex Property Trust by 17.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,117 shares of the real estate investment trust’s stock worth $3,701,000 after purchasing an additional 2,233 shares during the period. Finally, Empowered Funds LLC acquired a new stake in shares of Essex Property Trust during the first quarter worth $201,000. 96.51% of the stock is owned by institutional investors and hedge funds.

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.