Wall Street analysts forecast that Essex Property Trust, Inc. (NYSE:ESS) will post sales of $358.21 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Essex Property Trust’s earnings, with the lowest sales estimate coming in at $352.70 million and the highest estimate coming in at $368.80 million. Essex Property Trust posted sales of $370.81 million during the same quarter last year, which suggests a negative year over year growth rate of 3.4%. The business is expected to announce its next earnings report on Wednesday, October 27th.
According to Zacks, analysts expect that Essex Property Trust will report full year sales of $1.43 billion for the current financial year, with estimates ranging from $1.42 billion to $1.45 billion. For the next financial year, analysts anticipate that the business will report sales of $1.52 billion, with estimates ranging from $1.48 billion to $1.59 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Essex Property Trust.
Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Thursday, July 29th. The real estate investment trust reported $1.00 EPS for the quarter, missing the Zacks’ consensus estimate of $2.99 by ($1.99). Essex Property Trust had a return on equity of 6.32% and a net margin of 27.99%.
Shares of Essex Property Trust stock traded down $3.56 during midday trading on Friday, hitting $323.96. 3,907 shares of the company were exchanged, compared to its average volume of 370,191. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.86 and a quick ratio of 1.86. The firm has a market cap of $21.07 billion, a P/E ratio of 52.91, a PEG ratio of 8.74 and a beta of 0.73. Essex Property Trust has a 52 week low of $186.30 and a 52 week high of $337.43. The firm has a 50 day simple moving average of $325.29 and a 200-day simple moving average of $305.78.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be paid a dividend of $2.09 per share. The ex-dividend date is Wednesday, September 29th. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.58%. Essex Property Trust’s dividend payout ratio (DPR) is presently 65.21%.
In other news, Director Thomas E. Robinson sold 7,329 shares of the business’s stock in a transaction dated Thursday, September 9th. The stock was sold at an average price of $330.76, for a total value of $2,424,140.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas E. Robinson sold 2,500 shares of the business’s stock in a transaction dated Tuesday, August 31st. The shares were sold at an average price of $329.30, for a total value of $823,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,179 shares of company stock valued at $9,616,198. 3.80% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of ESS. Cullen Frost Bankers Inc. bought a new stake in Essex Property Trust during the second quarter worth about $28,000. E Fund Management Co. Ltd. acquired a new position in Essex Property Trust during the first quarter worth approximately $31,000. Alpha Paradigm Partners LLC acquired a new position in Essex Property Trust during the first quarter worth approximately $40,000. CX Institutional increased its position in Essex Property Trust by 17.9% during the second quarter. CX Institutional now owns 204 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 31 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its position in Essex Property Trust by 160.4% during the second quarter. Arkadios Wealth Advisors now owns 237 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 146 shares during the last quarter. Institutional investors own 92.48% of the company’s stock.
Essex Property Trust Company Profile
Essex Property Trust, Inc operates as a real estate investment trust. It engages in the ownership, operation, management, acquisition, development, and redevelopment of predominantly apartment communities. The company was founded by George M. Marcus in 1971 and is headquartered in San Mateo, CA.
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