Essex Property Trust (ESS) Projected to Post Earnings on Tuesday

Essex Property Trust (NYSE:ESS) is projected to release its Q1 2025 earnings data after the market closes on Tuesday, April 29th. Analysts expect the company to announce earnings of $3.92 per share and revenue of $458.03 million for the quarter. Essex Property Trust has set its FY 2025 guidance at 15.560-16.060 EPS and its Q1 2025 guidance at 3.860-3.980 EPS.

Essex Property Trust (NYSE:ESS) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $2.52. Essex Property Trust had a return on equity of 13.05% and a net margin of 41.79%. On average, analysts expect Essex Property Trust to post $16 EPS for the current fiscal year and $17 EPS for the next fiscal year.

Essex Property Trust Stock Down 1.5 %

ESS stock opened at $271.23 on Tuesday. Essex Property Trust has a twelve month low of $235.40 and a twelve month high of $317.73. The company has a market cap of $17.45 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 6.84 and a beta of 0.78. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.15. The business has a 50 day moving average price of $291.13 and a two-hundred day moving average price of $291.38.

Essex Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $2.57 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $10.28 dividend on an annualized basis and a yield of 3.79%. This is a boost from Essex Property Trust’s previous quarterly dividend of $2.45. Essex Property Trust’s dividend payout ratio (DPR) is currently 89.08%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Evercore ISI raised their target price on shares of Essex Property Trust from $297.00 to $302.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. Mizuho reduced their target price on Essex Property Trust from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Barclays cut their price target on Essex Property Trust from $304.00 to $303.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Royal Bank of Canada upped their price objective on shares of Essex Property Trust from $302.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Truist Financial lifted their target price on shares of Essex Property Trust from $292.00 to $304.00 and gave the stock a “hold” rating in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $307.11.

Insider Activity at Essex Property Trust

In other news, Director Mary Kasaris sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $300.80, for a total value of $842,240.00. Following the sale, the director now directly owns 1,755 shares in the company, valued at approximately $527,904. This trade represents a 61.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Angela L. Kleiman sold 4,929 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $314.99, for a total transaction of $1,552,585.71. Following the transaction, the chief executive officer now owns 13,662 shares of the company’s stock, valued at approximately $4,303,393.38. This represents a 26.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,345 shares of company stock valued at $6,682,539 over the last three months. 3.46% of the stock is owned by insiders.

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.