Essex Property Trust (ESS) to Release Earnings on Tuesday

Essex Property Trust (NYSE:ESS) is projected to announce its earnings results after the market closes on Tuesday, February 4th. Analysts expect Essex Property Trust to post earnings of $1.40 per share and revenue of $449,882.21 billion for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Essex Property Trust (NYSE:ESS) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.88 by ($2.04). The business had revenue of $450.70 million during the quarter, compared to analyst estimates of $445.88 million. Essex Property Trust had a net margin of 31.55% and a return on equity of 9.72%. During the same period in the previous year, the firm posted $3.78 earnings per share. On average, analysts expect Essex Property Trust to post $16 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Essex Property Trust Trading Up 1.7 %

NYSE ESS opened at $282.72 on Tuesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.14 and a quick ratio of 1.14. The stock’s 50-day moving average is $290.92 and its 200-day moving average is $292.21. Essex Property Trust has a one year low of $223.06 and a one year high of $317.73. The firm has a market cap of $18.17 billion, a P/E ratio of 33.03, a P/E/G ratio of 5.36 and a beta of 0.92.

Essex Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were issued a dividend of $2.45 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $9.80 annualized dividend and a yield of 3.47%. Essex Property Trust’s dividend payout ratio (DPR) is currently 114.49%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ESS shares. Raymond James downgraded shares of Essex Property Trust from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Mizuho dropped their price target on Essex Property Trust from $325.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Barclays reduced their price objective on Essex Property Trust from $316.00 to $302.00 and set an “equal weight” rating for the company in a research report on Friday. JPMorgan Chase & Co. lowered Essex Property Trust from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $297.00 to $303.00 in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company reduced their price target on Essex Property Trust from $314.00 to $305.00 and set an “equal weight” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned 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 $304.32.

About Essex Property Trust

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.