Essex Property Trust, Inc. (NYSE:ESS) – Equities research analysts at Cantor Fitzgerald issued their FY2018 earnings estimates for shares of Essex Property Trust in a note issued to investors on Friday. Cantor Fitzgerald analyst G. Mehta expects that the real estate investment trust will post earnings of $12.51 per share for the year. Cantor Fitzgerald currently has a “Buy” rating and a $269.00 target price on the stock.

A number of other equities analysts have also recently commented on ESS. Evercore ISI cut Essex Property Trust to a “buy” rating in a report on Friday, March 3rd. Royal Bank Of Canada reissued a “buy” rating and set a $248.00 target price on shares of Essex Property Trust in a report on Wednesday, March 29th. Zacks Investment Research cut Essex Property Trust from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Barclays PLC reissued an “overweight” rating and set a $262.00 target price (up previously from $255.00) on shares of Essex Property Trust in a report on Wednesday, April 19th. Finally, Mizuho raised Essex Property Trust from a “neutral” rating to a “buy” rating and increased their target price for the company from $199.00 to $212.00 in a report on Monday, May 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $251.27.

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Essex Property Trust (NYSE ESS) traded up 0.186% on Monday, reaching $266.285. The company’s stock had a trading volume of 6,735 shares. The company has a market capitalization of $17.47 billion, a price-to-earnings ratio of 34.113 and a beta of 0.52. Essex Property Trust has a 1-year low of $200.01 and a 1-year high of $268.97. The firm’s 50 day moving average price is $257.47 and its 200-day moving average price is $236.86.

Essex Property Trust (NYSE:ESS) last posted its earnings results on Thursday, April 27th. The real estate investment trust reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.05. Essex Property Trust had a return on equity of 8.04% and a net margin of 38.94%. The company had revenue of $335.40 million for the quarter, compared to the consensus estimate of $332.80 million. During the same quarter in the prior year, the company earned $2.68 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be given a $1.75 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.63%. Essex Property Trust’s dividend payout ratio (DPR) is presently 89.74%.

In related news, insider Michael J. Schall sold 17,458 shares of the stock in a transaction that occurred on Friday, March 31st. The stock was sold at an average price of $232.01, for a total value of $4,050,430.58. Following the completion of the transaction, the insider now directly owns 59,763 shares in the company, valued at $13,865,613.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Schall sold 13,668 shares of the stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $252.63, for a total value of $3,452,946.84. Following the completion of the transaction, the insider now owns 58,431 shares of the company’s stock, valued at $14,761,423.53. The disclosure for this sale can be found here. Insiders sold 57,743 shares of company stock valued at $14,042,328 over the last 90 days. Company insiders own 3.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Brookfield Asset Management Inc. raised its position in shares of Essex Property Trust by 27.6% in the fourth quarter. Brookfield Asset Management Inc. now owns 554,555 shares of the real estate investment trust’s stock valued at $128,934,000 after buying an additional 119,880 shares during the last quarter. Comerica Bank raised its position in shares of Essex Property Trust by 3.0% in the first quarter. Comerica Bank now owns 18,878 shares of the real estate investment trust’s stock valued at $4,558,000 after buying an additional 555 shares during the last quarter. National Pension Service raised its position in shares of Essex Property Trust by 7.2% in the first quarter. National Pension Service now owns 58,109 shares of the real estate investment trust’s stock valued at $13,514,000 after buying an additional 3,888 shares during the last quarter. Sei Investments Co. raised its position in shares of Essex Property Trust by 46.2% in the first quarter. Sei Investments Co. now owns 88,306 shares of the real estate investment trust’s stock valued at $20,446,000 after buying an additional 27,900 shares during the last quarter. Finally, Federated Investors Inc. PA raised its position in shares of Essex Property Trust by 16.0% in the fourth quarter. Federated Investors Inc. PA now owns 1,715 shares of the real estate investment trust’s stock valued at $399,000 after buying an additional 237 shares during the last quarter. Institutional investors own 98.94% of the company’s stock.

About Essex Property Trust

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.

Earnings History and Estimates for Essex Property Trust (NYSE:ESS)

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