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

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

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.85 by ($2.40). The business had revenue of $442.36 million for the quarter, compared to analysts’ expectations of $433.26 million. Essex Property Trust had a return on equity of 9.14% and a net margin of 30.31%. During the same quarter in the prior year, the company posted $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 Stock Down 2.0 %

Essex Property Trust stock opened at $295.65 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.62 and a quick ratio of 1.62. The stock has a market capitalization of $18.99 billion, a PE ratio of 36.59, a price-to-earnings-growth ratio of 5.31 and a beta of 0.88. The business has a 50 day simple moving average of $297.76 and a 200-day simple moving average of $277.63. Essex Property Trust has a 12 month low of $203.85 and a 12 month high of $317.73.

Essex Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a $2.45 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $9.80 annualized dividend and a dividend yield of 3.31%. Essex Property Trust’s dividend payout ratio (DPR) is 121.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ESS shares. Wells Fargo & Company upped their target price on shares of Essex Property Trust from $269.00 to $314.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. Scotiabank increased their price objective on shares of Essex Property Trust from $309.00 to $329.00 and gave the company a “sector outperform” rating in a report on Monday, September 16th. Royal Bank of Canada boosted their target price on Essex Property Trust from $284.00 to $288.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Stifel Nicolaus increased their price target on Essex Property Trust from $267.00 to $268.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on Essex Property Trust from $265.00 to $297.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $293.40.

Insiders Place Their Bets

In related news, CEO Angela L. Kleiman sold 8,080 shares of Essex Property Trust stock in a transaction on Monday, September 16th. The shares were sold at an average price of $315.10, for a total transaction of $2,546,008.00. Following the sale, the chief executive officer now directly owns 9,494 shares in the company, valued at $2,991,559.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Amal M. Johnson sold 2,453 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $300.00, for a total transaction of $735,900.00. Following the transaction, the director now directly owns 2,585 shares in the company, valued at approximately $775,500. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Angela L. Kleiman sold 8,080 shares of Essex Property Trust stock in a transaction on Monday, September 16th. The shares were sold at an average price of $315.10, for a total transaction of $2,546,008.00. Following the completion of the transaction, the chief executive officer now directly owns 9,494 shares in the company, valued at $2,991,559.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,402 shares of company stock valued at $6,399,663. 3.80% of the stock is owned by corporate 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.