Wall Street brokerages expect that Essex Property Trust Inc (NYSE:ESS) will announce sales of $346.07 million for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Essex Property Trust’s earnings. The lowest sales estimate is $343.50 million and the highest is $349.48 million. Essex Property Trust posted sales of $329.04 million during the same quarter last year, which suggests a positive year-over-year growth rate of 5.2%. The firm is scheduled to announce its next earnings results after the market closes on Wednesday, February 7th.

On average, analysts expect that Essex Property Trust will report full-year sales of $346.07 million for the current financial year, with estimates ranging from $1.36 billion to $1.37 billion. For the next fiscal year, analysts expect that the company will post sales of $1.42 billion per share, with estimates ranging from $1.39 billion to $1.45 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Essex Property Trust.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.96 by ($1.74). Essex Property Trust had a net margin of 38.95% and a return on equity of 8.19%.

A number of brokerages have recently issued reports on ESS. Robert W. Baird reaffirmed a “buy” rating and set a $273.00 price target on shares of Essex Property Trust in a report on Tuesday, October 17th. Mitsubishi UFJ Financial Group raised shares of Essex Property Trust from a “neutral” rating to an “overweight” rating in a report on Wednesday, January 3rd. Mizuho downgraded shares of Essex Property Trust from a “neutral” rating to an “underperform” rating and set a $250.00 price target on the stock. in a report on Monday, November 6th. SunTrust Banks reissued a “hold” rating and issued a $270.00 price objective on shares of Essex Property Trust in a report on Friday, November 3rd. Finally, Citigroup raised shares of Essex Property Trust to an “overweight” rating and raised their price objective for the stock from $253.00 to $278.00 in a report on Wednesday, January 3rd. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Essex Property Trust presently has a consensus rating of “Hold” and an average target price of $269.41.

In other Essex Property Trust news, CEO Michael J. Schall sold 334 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $255.50, for a total transaction of $85,337.00. Following the sale, the chief executive officer now owns 45,097 shares in the company, valued at approximately $11,522,283.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Craig K. Zimmerman sold 167 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $255.50, for a total transaction of $42,668.50. Following the sale, the insider now owns 10,450 shares in the company, valued at approximately $2,669,975. The disclosure for this sale can be found here. In the last three months, insiders sold 9,687 shares of company stock worth $2,408,772. 3.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Essex Property Trust by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 11,496,906 shares of the real estate investment trust’s stock worth $2,957,809,000 after acquiring an additional 92,531 shares during the period. State Street Corp raised its stake in Essex Property Trust by 0.7% during the 2nd quarter. State Street Corp now owns 4,744,926 shares of the real estate investment trust’s stock worth $1,220,731,000 after acquiring an additional 30,726 shares during the period. Principal Financial Group Inc. raised its stake in Essex Property Trust by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,328,165 shares of the real estate investment trust’s stock worth $591,424,000 after acquiring an additional 80,573 shares during the period. Northern Trust Corp raised its stake in Essex Property Trust by 3.6% during the 2nd quarter. Northern Trust Corp now owns 1,094,493 shares of the real estate investment trust’s stock worth $281,580,000 after acquiring an additional 37,953 shares during the period. Finally, Bank of Montreal Can raised its stake in Essex Property Trust by 5.4% during the 4th quarter. Bank of Montreal Can now owns 1,034,873 shares of the real estate investment trust’s stock worth $249,787,000 after acquiring an additional 53,102 shares during the period. Institutional investors own 97.15% of the company’s stock.

Shares of Essex Property Trust (NYSE ESS) traded up $0.50 during midday trading on Tuesday, hitting $227.60. 379,091 shares of the stock were exchanged, compared to its average volume of 378,020. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $14,990.00, a P/E ratio of 28.52, a PEG ratio of 2.93 and a beta of 0.50. Essex Property Trust has a 12-month low of $218.41 and a 12-month high of $270.04.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Thursday, December 28th. Essex Property Trust’s payout ratio is 87.72%.

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Essex Property Trust Company Profile

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.

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

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