Essex Property Trust (ESS) Set to Announce Earnings on Tuesday

Essex Property Trust (NYSE:ESS) will be posting its quarterly earnings results after the market closes on Tuesday, October 29th. Analysts expect Essex Property Trust to post earnings of $3.88 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.85 by ($2.40). Essex Property Trust had a return on equity of 9.14% and a net margin of 30.31%. The firm had revenue of $442.36 million for the quarter, compared to analyst estimates of $433.26 million. During the same period in the prior year, the company posted $3.77 EPS. 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 Stock Down 2.0 %

NYSE:ESS opened at $295.65 on Monday. The stock’s fifty day moving average price is $297.76 and its two-hundred day moving average price is $278.06. Essex Property Trust has a 52-week low of $203.85 and a 52-week high of $317.73. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market cap of $18.99 billion, a price-to-earnings ratio of 36.59, a P/E/G ratio of 5.31 and a beta of 0.88.

Essex Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Monday, September 30th. Essex Property Trust’s dividend payout ratio is 121.29%.

Insider Activity at Essex Property Trust

In related news, Director Amal M. Johnson sold 2,453 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $300.00, for a total value of $735,900.00. Following the completion of the sale, the director now directly owns 2,585 shares in the company, valued at approximately $775,500. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Amal M. Johnson sold 2,453 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $300.00, for a total value of $735,900.00. Following the completion of the sale, the director now directly owns 2,585 shares in the company, valued at approximately $775,500. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Anne Morrison sold 2,571 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $314.79, for a total transaction of $809,325.09. Following the completion of the sale, the chief accounting officer now owns 2,321 shares of the company’s stock, valued at $730,627.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,402 shares of company stock worth $6,399,663. Insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

ESS has been the topic of a number of analyst reports. Royal Bank of Canada increased their price target on Essex Property Trust from $284.00 to $288.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Wells Fargo & Company increased their price target on Essex Property Trust from $269.00 to $314.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. Stifel Nicolaus increased their price target on Essex Property Trust from $267.00 to $268.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Bank of America cut shares of Essex Property Trust from a “buy” rating to a “neutral” rating and upped their price objective for the company from $307.00 to $321.00 in a research report on Tuesday, September 24th. Finally, Piper Sandler upped their price objective on shares of Essex Property Trust from $315.00 to $355.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $293.40.

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.