Essex Property Trust (ESS) Scheduled to Post Earnings on Tuesday

Essex Property Trust (NYSE:ESS) is set to post its quarterly earnings results after the market closes on Tuesday, April 30th. Analysts expect Essex Property Trust to post earnings of $3.74 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Essex Property Trust Stock Performance

NYSE:ESS opened at $239.89 on Tuesday. The company has a market capitalization of $15.40 billion, a PE ratio of 38.02, a P/E/G ratio of 3.47 and a beta of 0.80. The company has a 50 day simple moving average of $237.58 and a two-hundred day simple moving average of $231.20. The company has a debt-to-equity ratio of 1.11, a quick ratio of 3.26 and a current ratio of 3.26. Essex Property Trust has a fifty-two week low of $203.85 and a fifty-two week high of $252.85.

Essex Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a dividend of $2.45 per share. This is an increase from Essex Property Trust’s previous quarterly dividend of $2.31. The ex-dividend date was Wednesday, March 27th. This represents a $9.80 annualized dividend and a dividend yield of 4.09%. Essex Property Trust’s dividend payout ratio (DPR) is 155.31%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ESS shares. Mizuho raised shares of Essex Property Trust from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $255.00 to $250.00 in a research report on Wednesday, February 28th. Royal Bank of Canada raised their price objective on shares of Essex Property Trust from $237.00 to $239.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Raymond James raised shares of Essex Property Trust from a “market perform” rating to an “outperform” rating and set a $265.00 price objective for the company in a research report on Monday, March 18th. Piper Sandler reaffirmed an “overweight” rating and set a $291.00 price objective on shares of Essex Property Trust in a research report on Tuesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Essex Property Trust in a research report on Tuesday, January 30th. They set a “hold” rating and a $240.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Essex Property Trust presently has a consensus rating of “Hold” and a consensus price target of $245.37.

Essex Property Trust Company Profile

Essex Property Trust, Inc, an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.