Essex Property Trust (NYSE:ESS) is set to announce its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $3.19 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Wednesday, January 30th. The real estate investment trust reported $3.19 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $3.19. The firm had revenue of $353.16 million during the quarter, compared to analysts’ expectations of $351.76 million. Essex Property Trust had a net margin of 27.87% and a return on equity of 5.74%. During the same period last year, the firm posted $3.01 earnings per share. On average, analysts expect Essex Property Trust to post $13 EPS for the current fiscal year and $14 EPS for the next fiscal year.

Shares of NYSE:ESS opened at $275.17 on Tuesday. The company has a market cap of $18.28 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 3.69 and a beta of 0.48. Essex Property Trust has a 1-year low of $226.22 and a 1-year high of $294.61. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.88.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 2.83%. This is a boost from Essex Property Trust’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, March 28th. Essex Property Trust’s dividend payout ratio (DPR) is presently 62.05%.

A number of analysts recently weighed in on ESS shares. BMO Capital Markets restated a “hold” rating and set a $260.00 target price on shares of Essex Property Trust in a report on Wednesday, January 30th. Barclays upgraded shares of Essex Property Trust from a “neutral” rating to a “positive” rating in a report on Monday, February 4th. Citigroup set a $275.00 target price on shares of Essex Property Trust and gave the stock a “hold” rating in a report on Tuesday, February 5th. Jefferies Financial Group cut shares of Essex Property Trust from a “buy” rating to a “hold” rating and raised their target price for the stock from $290.00 to $295.00 in a report on Thursday, February 7th. They noted that the move was a valuation call. Finally, KeyCorp raised their target price on shares of Essex Property Trust from $268.00 to $301.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $279.57.

In related news, Director Byron A. Scordelis sold 2,324 shares of the company’s stock in a transaction that occurred on Friday, February 8th. The shares were sold at an average price of $277.44, for a total value of $644,770.56. Following the completion of the sale, the director now owns 4,824 shares in the company, valued at approximately $1,338,370.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Angela L. Kleiman sold 1,177 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $289.72, for a total transaction of $341,000.44. Following the completion of the sale, the chief financial officer now owns 6,916 shares of the company’s stock, valued at approximately $2,003,703.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,184 shares of company stock valued at $4,904,753. 3.60% of the stock is owned by insiders.

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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 245 apartment communities with an additional 6 properties in various stages of active development.

Featured Article: Diluted Earnings Per Share

Earnings History for Essex Property Trust (NYSE:ESS)

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