Essex Property Trust Inc (NYSE:ESS) – Jefferies Group issued their Q1 2018 earnings estimates for shares of Essex Property Trust in a research report issued to clients and investors on Monday. Jefferies Group analyst O. Okusanya forecasts that the real estate investment trust will post earnings per share of $3.02 for the quarter. Jefferies Group currently has a “Hold” rating and a $252.00 target price on the stock. Jefferies Group also issued estimates for Essex Property Trust’s Q2 2018 earnings at $3.09 EPS, Q3 2018 earnings at $3.13 EPS, Q4 2018 earnings at $3.20 EPS, FY2018 earnings at $12.45 EPS, Q1 2019 earnings at $3.22 EPS, Q2 2019 earnings at $3.31 EPS, Q3 2019 earnings at $3.35 EPS, Q4 2019 earnings at $3.43 EPS, FY2019 earnings at $13.30 EPS and FY2020 earnings at $14.20 EPS.
Essex Property Trust (NYSE:ESS) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. Essex Property Trust had a net margin of 31.75% and a return on equity of 6.76%. The business had revenue of $345.06 million during the quarter, compared to analysts’ expectations of $346.50 million. During the same period last year, the business earned $2.85 earnings per share.
Shares of Essex Property Trust (ESS) opened at $228.28 on Wednesday. Essex Property Trust has a 12-month low of $214.03 and a 12-month high of $270.04. The firm has a market cap of $15,050.40, a PE ratio of 34.69, a price-to-earnings-growth ratio of 2.93 and a beta of 0.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 0.83.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a $1.75 dividend. The ex-dividend date was Thursday, December 28th. This represents a $7.00 dividend on an annualized basis and a yield of 3.07%. Essex Property Trust’s dividend payout ratio is currently 106.38%.
In related news, EVP John D. Eudy sold 1,700 shares of Essex Property Trust stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $247.24, for a total value of $420,308.00. Following the completion of the transaction, the executive vice president now owns 10,130 shares in the company, valued at $2,504,541.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary P. Martin sold 500 shares of Essex Property Trust stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $223.43, for a total transaction of $111,715.00. Following the completion of the transaction, the director now owns 5,736 shares of the company’s stock, valued at approximately $1,281,594.48. The disclosure for this sale can be found here. Insiders sold 8,602 shares of company stock valued at $2,115,430 in the last quarter. 3.30% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. lifted its stake in Essex Property Trust by 1.0% in the second 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 during the last quarter. Phocas Financial Corp. lifted its position in shares of Essex Property Trust by 3.4% during the 2nd quarter. Phocas Financial Corp. now owns 4,252 shares of the real estate investment trust’s stock worth $1,094,000 after buying an additional 138 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Essex Property Trust by 0.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,110 shares of the real estate investment trust’s stock worth $5,363,000 after buying an additional 194 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its position in shares of Essex Property Trust by 1.9% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 10,841 shares of the real estate investment trust’s stock worth $2,754,000 after buying an additional 200 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of Essex Property Trust by 0.7% during the 3rd quarter. Retirement Systems of Alabama now owns 32,014 shares of the real estate investment trust’s stock worth $8,133,000 after buying an additional 208 shares during the last quarter. Institutional investors own 96.31% of the company’s stock.
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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