Essex Property Trust (ESS) to Release Earnings on Wednesday

Essex Property Trust (NYSE:ESS) will release its earnings data after the market closes on Wednesday, January 31st.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $1.22 EPS for the quarter, missing the Zacks’ consensus estimate of $2.96 by ($1.74). Essex Property Trust had a net margin of 38.95% and a return on equity of 8.19%. On average, analysts expect Essex Property Trust to post $12 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Shares of Essex Property Trust (ESS) opened at $231.83 on Wednesday. The company has a market cap of $15,300.00, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 2.89 and a beta of 0.50. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 0.83. Essex Property Trust has a one year low of $218.41 and a one year high of $270.04.

The firm also recently declared 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 yield of 3.02%. Essex Property Trust’s dividend payout ratio (DPR) is presently 87.72%.

A number of brokerages have commented on ESS. SunTrust Banks upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating in a research note on Monday. Stifel Nicolaus lowered shares of Essex Property Trust from a “buy” rating to a “hold” rating and decreased their price target for the company from $280.00 to $235.00 in a research note on Friday, January 19th. Sandler O’Neill set a $250.00 price target on shares of Essex Property Trust and gave the company a “hold” rating in a research note on Friday, January 12th. BMO Capital Markets restated a “hold” rating and set a $250.00 price target on shares of Essex Property Trust in a research note on Tuesday, January 9th. Finally, Raymond James Financial restated an “underperform” rating on shares of Essex Property Trust in a research note on Monday, January 8th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $265.94.

In other news, insider Craig K. Zimmerman sold 167 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $255.50, for a total value of $42,668.50. Following the completion of the sale, the insider now owns 10,450 shares in the company, valued at approximately $2,669,975. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Angela L. Kleiman sold 600 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $247.16, for a total transaction of $148,296.00. Following the completion of the transaction, the chief financial officer now directly owns 7,777 shares in the company, valued at $1,922,163.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,687 shares of company stock valued at $2,408,772. Company insiders own 3.30% of the company’s stock.

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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.

Earnings History for Essex Property Trust (NYSE:ESS)

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