FY2019 Earnings Forecast for Essex Property Trust Inc Issued By Jefferies Group (ESS)
Essex Property Trust Inc (NYSE:ESS) – Analysts at Jefferies Group reduced their FY2019 earnings per share (EPS) estimates for Essex Property Trust in a report released on Tuesday. Jefferies Group analyst O. Okusanya now forecasts that the real estate investment trust will earn $13.41 per share for the year, down from their prior forecast of $13.43.
Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.96 by ($1.74). Essex Property Trust had a return on equity of 8.19% and a net margin of 38.95%.
Shares of Essex Property Trust (NYSE:ESS) traded down $2.76 during mid-day trading on Thursday, reaching $224.60. The company had a trading volume of 478,753 shares, compared to its average volume of 389,992. Essex Property Trust has a 52-week low of $218.41 and a 52-week high of $270.04. The firm has a market capitalization of $15,030.03, a price-to-earnings ratio of 28.11, a PEG ratio of 2.94 and a beta of 0.50. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.83 and a quick ratio of 0.83.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Thursday, December 28th. Essex Property Trust’s payout ratio is currently 87.61%.
In related news, CFO Angela L. Kleiman sold 600 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $247.16, for a total transaction of $148,296.00. Following the sale, the chief financial officer now owns 7,777 shares of the company’s stock, valued at $1,922,163.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Schall sold 4,801 shares of the stock in a transaction on Monday, December 11th. The shares were sold at an average price of $247.37, for a total value of $1,187,623.37. Following the sale, the chief executive officer now directly owns 49,564 shares in the company, valued at approximately $12,260,646.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,687 shares of company stock worth $2,408,772. Corporate insiders own 3.30% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Essex Property Trust by 0.8% during the second quarter. Vanguard Group Inc. now owns 11,496,906 shares of the real estate investment trust’s stock valued at $2,957,809,000 after acquiring an additional 92,531 shares during the last quarter. State Street Corp boosted its stake in shares of Essex Property Trust by 0.7% during the second quarter. State Street Corp now owns 4,744,926 shares of the real estate investment trust’s stock valued at $1,220,731,000 after acquiring an additional 30,726 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Essex Property Trust by 3.6% during the third quarter. Principal Financial Group Inc. now owns 2,328,165 shares of the real estate investment trust’s stock valued at $591,424,000 after acquiring an additional 80,573 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Essex Property Trust by 3.6% during the second quarter. Northern Trust Corp now owns 1,094,493 shares of the real estate investment trust’s stock valued at $281,580,000 after acquiring an additional 37,953 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Essex Property Trust by 5.4% during the fourth quarter. Bank of Montreal Can now owns 1,034,873 shares of the real estate investment trust’s stock valued at $249,787,000 after acquiring an additional 53,102 shares during the last quarter. 97.15% of the stock is currently owned by institutional investors and hedge funds.
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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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