Q4 2017 EPS Estimates for Essex Property Trust Inc Boosted by Analyst (ESS)
Essex Property Trust Inc (NYSE:ESS) – Equities research analysts at Jefferies Group boosted their Q4 2017 earnings per share (EPS) estimates for shares of Essex Property Trust in a research note issued to investors on Tuesday. Jefferies Group analyst O. Okusanya now anticipates that the real estate investment trust will post earnings of $3.00 per share for the quarter, up from their previous forecast of $2.99.
A number of other brokerages have also recently issued reports on ESS. Raymond James Financial reissued an “underperform” rating on shares of Essex Property Trust in a research note on Monday, January 8th. BMO Capital Markets reissued a “hold” rating and issued a $257.00 price objective on shares of Essex Property Trust in a research note on Monday, November 27th. Stifel Nicolaus cut shares of Essex Property Trust from a “buy” rating to a “hold” rating and decreased their price objective for the company from $280.00 to $235.00 in a research note on Friday. Mitsubishi UFJ Financial Group reissued a “neutral” rating on shares of Essex Property Trust in a research note on Friday, November 3rd. Finally, Zacks Investment Research raised shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $289.00 price objective on the stock in a research note on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Essex Property Trust has an average rating of “Hold” and an average price target of $265.94.
Essex Property Trust (NYSE:ESS) last released its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $1.22 earnings per share 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%.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a dividend of $1.75 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.12%. Essex Property Trust’s payout ratio is presently 87.72%.
In other Essex Property Trust news, CEO Michael J. Schall sold 4,801 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $247.37, for a total transaction of $1,187,623.37. Following the sale, the chief executive officer now owns 49,564 shares of the company’s stock, valued at $12,260,646.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Angela L. Kleiman sold 600 shares of the business’s 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 directly owns 7,777 shares in the company, valued at approximately $1,922,163.32. 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. Insiders own 3.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its stake in shares of Essex Property Trust by 145.3% during the second quarter. Tower Research Capital LLC TRC now owns 471 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 279 shares during the last quarter. Sun Life Financial INC grew its stake in shares of Essex Property Trust by 5,900.0% during the second quarter. Sun Life Financial INC now owns 480 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 472 shares during the last quarter. Breton Hill Capital Ltd. bought a new stake in shares of Essex Property Trust during the third quarter worth $200,000. Beacon Investment Advisory Services Inc. bought a new stake in shares of Essex Property Trust during the third quarter worth $200,000. Finally, Beaton Management Co. Inc. bought a new stake in shares of Essex Property Trust in the second quarter worth $207,000. 97.15% of the stock is currently owned by hedge funds and other institutional investors.
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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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