Essex Property Trust, Inc. (NYSE:ESS) – Investment analysts at KeyCorp issued their FY2017 earnings per share (EPS) estimates for shares of Essex Property Trust in a report issued on Monday. KeyCorp analyst A. Wurschmidt expects that the brokerage will earn $11.73 per share for the year. KeyCorp currently has a “Overweight” rating on the stock.

Essex Property Trust (NYSE:ESS) last released its earnings results on Thursday, February 2nd. The real estate investment trust reported $2.81 earnings per share for the quarter, missing analysts’ consensus estimates of $2.82 by $0.01. Essex Property Trust had a net margin of 32.07% and a return on equity of 6.55%. During the same period in the prior year, the business posted $2.63 earnings per share.

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

Several other research firms have also commented on ESS. Zacks Investment Research upgraded Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, January 24th. JMP Securities lowered Essex Property Trust from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 24th. Barclays PLC upgraded Essex Property Trust from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $232.00 to $255.00 in a research note on Monday, January 23rd. They noted that the move was a valuation call. Zelman & Associates lowered Essex Property Trust from a “hold” rating to a “sell” rating in a research note on Monday. Finally, BMO Capital Markets restated a “hold” rating and issued a $238.00 price objective on shares of Essex Property Trust in a research note on Thursday, February 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. Essex Property Trust has an average rating of “Hold” and an average price target of $244.62.

Essex Property Trust (NYSE:ESS) traded down 0.65% during midday trading on Wednesday, hitting $226.41. The stock had a trading volume of 154,204 shares. The stock’s 50-day moving average is $227.50 and its 200-day moving average is $222.24. The company has a market capitalization of $14.84 billion, a PE ratio of 36.11 and a beta of 0.52. Essex Property Trust has a 1-year low of $200.01 and a 1-year high of $237.50.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hanson McClain Inc. raised its position in shares of Essex Property Trust by 0.5% in the second quarter. Hanson McClain Inc. now owns 608 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 3 shares during the last quarter. Washington Trust Bank raised its position in shares of Essex Property Trust by 1.3% in the third quarter. Washington Trust Bank now owns 472 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 6 shares during the last quarter. Great Lakes Advisors LLC raised its position in shares of Essex Property Trust by 0.4% in the third quarter. Great Lakes Advisors LLC now owns 2,118 shares of the real estate investment trust’s stock worth $472,000 after buying an additional 9 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Essex Property Trust by 0.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 2,070 shares of the real estate investment trust’s stock worth $461,000 after buying an additional 10 shares during the last quarter. Finally, Cleararc Capital Inc. raised its position in shares of Essex Property Trust by 0.9% in the fourth quarter. Cleararc Capital Inc. now owns 1,608 shares of the real estate investment trust’s stock worth $374,000 after buying an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

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In other news, insider Craig K. Zimmerman sold 6,800 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $225.41, for a total transaction of $1,532,788.00. Following the completion of the transaction, the insider now owns 17,083 shares in the company, valued at $3,850,679.03. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gary P. Martin sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $223.03, for a total value of $223,030.00. Following the transaction, the director now owns 6,000 shares of the company’s stock, valued at approximately $1,338,180. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,200 shares of company stock valued at $3,649,264. Company insiders own 3.50% 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 (REIT). The Company owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. (the Operating Partnership). The Company is engaged in the ownership, operation, management, acquisition, development and redevelopment of apartment communities.

5 Day Chart for NYSE:ESS

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