Q3 2021 EPS Estimates for Essex Property Trust, Inc. (NYSE:ESS) Lowered by Jefferies Financial Group


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Essex Property Trust, Inc. (NYSE:ESS) – Stock analysts at Jefferies Financial Group cut their Q3 2021 earnings estimates for shares of Essex Property Trust in a research note issued to investors on Wednesday, January 13th. Jefferies Financial Group analyst J. Petersen now anticipates that the real estate investment trust will post earnings of $3.11 per share for the quarter, down from their previous estimate of $3.29. Jefferies Financial Group also issued estimates for Essex Property Trust’s Q2 2022 earnings at $3.40 EPS, Q3 2022 earnings at $3.45 EPS, Q4 2022 earnings at $3.57 EPS, FY2022 earnings at $13.79 EPS and FY2023 earnings at $14.92 EPS.

Several other research firms have also issued reports on ESS. KeyCorp reduced their price objective on shares of Essex Property Trust from $342.00 to $255.00 and set an “overweight” rating for the company in a research note on Thursday, October 15th. BMO Capital Markets raised Essex Property Trust from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $245.00 to $255.00 in a research report on Thursday, December 3rd. BidaskClub lowered Essex Property Trust from a “hold” rating to a “sell” rating in a report on Thursday, December 17th. Zacks Investment Research raised Essex Property Trust from a “sell” rating to a “hold” rating and set a $229.00 price objective on the stock in a research note on Friday, October 9th. Finally, BTIG Research raised Essex Property Trust from a “neutral” rating to a “buy” rating and set a $314.00 target price for the company in a research report on Thursday, November 12th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. Essex Property Trust currently has a consensus rating of “Hold” and a consensus target price of $253.25.

Shares of ESS opened at $236.34 on Thursday. The company’s fifty day moving average is $240.53 and its 200-day moving average is $225.32. Essex Property Trust has a 12 month low of $175.81 and a 12 month high of $329.74. The firm has a market cap of $15.41 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 7.52 and a beta of 0.78. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 1.05.

Essex Property Trust (NYSE:ESS) last released its quarterly earnings data on Wednesday, October 28th. The real estate investment trust reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($2.03). Essex Property Trust had a return on equity of 9.46% and a net margin of 39.89%.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, January 4th will be given a dividend of $2.0775 per share. The ex-dividend date is Thursday, December 31st. This represents a $8.31 annualized dividend and a dividend yield of 3.52%. Essex Property Trust’s dividend payout ratio is currently 62.11%.

A number of institutional investors and hedge funds have recently made changes to their positions in ESS. IFM Investors Pty Ltd grew its stake in shares of Essex Property Trust by 15.9% in the fourth quarter. IFM Investors Pty Ltd now owns 6,342 shares of the real estate investment trust’s stock worth $1,506,000 after acquiring an additional 869 shares in the last quarter. Redpoint Investment Management Pty Ltd grew its stake in Essex Property Trust by 6.9% during the 4th quarter. Redpoint Investment Management Pty Ltd now owns 6,224 shares of the real estate investment trust’s stock worth $1,478,000 after purchasing an additional 404 shares in the last quarter. Cox Capital Mgt LLC increased its holdings in Essex Property Trust by 2.4% during the 4th quarter. Cox Capital Mgt LLC now owns 5,647 shares of the real estate investment trust’s stock worth $1,341,000 after purchasing an additional 131 shares during the period. Louisiana State Employees Retirement System raised its position in Essex Property Trust by 21.2% in the 4th quarter. Louisiana State Employees Retirement System now owns 4,000 shares of the real estate investment trust’s stock valued at $950,000 after purchasing an additional 700 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Essex Property Trust by 5.6% in the 3rd quarter. Sei Investments Co. now owns 214,448 shares of the real estate investment trust’s stock valued at $43,044,000 after buying an additional 11,315 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Essex Property Trust Company Profile

Essex Property Trust, Inc operates as a real estate investment trust. It engages in the ownership, operation, management, acquisition, development, and redevelopment of predominantly apartment communities. The company was founded by George M. Marcus in 1971 and is headquartered in San Mateo, CA.

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Earnings History and Estimates for Essex Property Trust (NYSE:ESS)

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