Essex Property Trust Inc (ESS) to Post Q1 2018 Earnings of $3.12 Per Share, DA Davidson Forecasts

Essex Property Trust Inc (NYSE:ESS) – Analysts at DA Davidson upped their Q1 2018 earnings estimates for shares of Essex Property Trust in a research report issued to clients and investors on Friday. DA Davidson analyst J. Lykins now expects that the real estate investment trust will post earnings per share of $3.12 for the quarter, up from their prior estimate of $3.06. DA Davidson also issued estimates for Essex Property Trust’s Q2 2018 earnings at $3.19 EPS, Q3 2018 earnings at $3.14 EPS, Q4 2018 earnings at $3.16 EPS, FY2018 earnings at $12.61 EPS and FY2019 earnings at $13.41 EPS.

Other equities analysts have also recently issued reports about the company. Citigroup upgraded Essex Property Trust to an “overweight” rating and lifted their price target for the company from $253.00 to $278.00 in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. BMO Capital Markets reiterated a “hold” rating and set a $250.00 price target on shares of Essex Property Trust in a research report on Tuesday, January 9th. Barclays reiterated a “buy” rating and set a $283.00 price target on shares of Essex Property Trust in a research report on Thursday, October 19th. Mizuho cut Essex Property Trust from a “neutral” rating to an “underperform” rating and set a $250.00 price target on the stock. in a research report on Monday, November 6th. Finally, Cantor Fitzgerald set a $279.00 price target on Essex Property Trust and gave the company a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $262.76.

Shares of Essex Property Trust (NYSE ESS) opened at $227.94 on Monday. Essex Property Trust has a 1 year low of $214.03 and a 1 year high of $270.04. The company has a market capitalization of $15,056.35, a P/E ratio of 34.64, a P/E/G ratio of 2.94 and a beta of 0.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.83 and a quick ratio of 0.83.

Essex Property Trust (NYSE:ESS) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 EPS for the quarter, beating the consensus estimate of $3.00 by $0.01. Essex Property Trust had a return on equity of 6.76% and a net margin of 31.75%. The firm had revenue of $345.06 million for the quarter, compared to analysts’ expectations of $346.50 million. During the same period last year, the firm earned $2.85 EPS.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ESS. Advisor Group Inc. boosted its stake in shares of Essex Property Trust by 14.2% during the 2nd quarter. Advisor Group Inc. now owns 1,021 shares of the real estate investment trust’s stock worth $262,000 after acquiring an additional 127 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Essex Property Trust by 1,333.6% during the 2nd quarter. Janus Henderson Group PLC now owns 119,666 shares of the real estate investment trust’s stock worth $30,787,000 after acquiring an additional 111,319 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Essex Property Trust by 178.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,591 shares of the real estate investment trust’s stock worth $924,000 after acquiring an additional 2,302 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Essex Property Trust by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 70,180 shares of the real estate investment trust’s stock worth $18,055,000 after acquiring an additional 1,979 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Essex Property Trust by 1.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,821 shares of the real estate investment trust’s stock worth $1,240,000 after acquiring an additional 49 shares in the last quarter. 96.82% of the stock is owned by institutional investors and hedge funds.

In other news, CFO Angela L. Kleiman sold 600 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 7,777 shares of the company’s stock, valued at approximately $1,922,163.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Schall sold 4,801 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was 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 of the company’s stock, valued at $12,260,646.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,102 shares of company stock valued at $2,003,715. Corporate insiders own 3.30% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, December 28th. Essex Property Trust’s dividend payout ratio is presently 106.38%.

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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 and Estimates for Essex Property Trust (NYSE:ESS)

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