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

Essex Property Trust (NYSE:ESS) will post its quarterly earnings results after the market closes on Tuesday, April 30th. Analysts expect Essex Property Trust to post earnings of $3.74 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Essex Property Trust Stock Performance

Shares of Essex Property Trust stock opened at $246.92 on Friday. The company has a market capitalization of $15.85 billion, a PE ratio of 39.13, a P/E/G ratio of 3.65 and a beta of 0.80. The company has a debt-to-equity ratio of 1.11, a quick ratio of 3.26 and a current ratio of 3.26. The company has a 50-day simple moving average of $238.81 and a two-hundred day simple moving average of $231.90. Essex Property Trust has a one year low of $203.85 and a one year high of $252.85.

Essex Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued a $2.45 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Essex Property Trust’s previous quarterly dividend of $2.31. This represents a $9.80 dividend on an annualized basis and a yield of 3.97%. Essex Property Trust’s payout ratio is currently 155.31%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Mizuho upgraded shares of Essex Property Trust from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $255.00 to $250.00 in a report on Wednesday, February 28th. Raymond James upgraded shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price objective on the stock in a report on Monday, March 18th. Stifel Nicolaus cut their price objective on shares of Essex Property Trust from $225.00 to $223.00 and set a “hold” rating on the stock in a report on Wednesday, February 7th. Royal Bank of Canada upped their price objective on shares of Essex Property Trust from $237.00 to $239.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Finally, Truist Financial cut their price objective on shares of Essex Property Trust from $259.00 to $255.00 and set a “hold” rating on the stock in a report on Tuesday, April 9th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $245.37.

About Essex Property Trust

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.