Essex Property Trust, Inc. (ESS) Forecasted to Earn Q1 2018 Earnings of $3.06 Per Share
Essex Property Trust, Inc. (NYSE:ESS) – Analysts at DA Davidson issued their Q1 2018 earnings per share (EPS) estimates for shares of Essex Property Trust in a report released on Friday. DA Davidson analyst J. Lykins anticipates that the real estate investment trust will post earnings per share of $3.06 for the quarter. DA Davidson also issued estimates for Essex Property Trust’s Q2 2018 earnings at $3.13 EPS, Q3 2018 earnings at $3.15 EPS and Q4 2018 earnings at $3.19 EPS.
Several other research firms have also commented on ESS. Stifel Nicolaus began coverage on shares of Essex Property Trust in a research report on Friday, September 1st. They set a “buy” rating and a $294.00 price target on the stock. Mizuho lowered Essex Property Trust from a “buy” rating to a “neutral” rating and set a $283.00 target price on the stock. in a research report on Monday, July 31st. Canaccord Genuity set a $270.00 target price on Essex Property Trust and gave the company a “hold” rating in a research report on Monday, July 31st. Robert W. Baird reissued a “buy” rating and issued a $273.00 target price on shares of Essex Property Trust in a research report on Tuesday, September 12th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $280.00 target price on shares of Essex Property Trust in a research report on Wednesday, September 13th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Essex Property Trust currently has a consensus rating of “Hold” and a consensus target price of $266.93.
Essex Property Trust (NYSE:ESS) traded up $0.14 during mid-day trading on Monday, hitting $253.98. 538,193 shares of the stock traded hands, compared to its average volume of 286,099. The stock has a market cap of $16,772.09, a price-to-earnings ratio of 21.71, a PEG ratio of 3.59 and a beta of 0.54. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.88. Essex Property Trust has a 1 year low of $208.92 and a 1 year high of $270.04.
Institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its holdings in Essex Property Trust by 145.3% in the second quarter. Tower Research Capital LLC TRC now owns 471 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 279 shares in the last quarter. Sun Life Financial INC increased its holdings in Essex Property Trust by 5,900.0% in the second quarter. Sun Life Financial INC now owns 480 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 472 shares in the last quarter. Wetherby Asset Management Inc. purchased a new position in Essex Property Trust in the second quarter valued at about $203,000. Breton Hill Capital Ltd. purchased a new position in Essex Property Trust in the third quarter valued at about $200,000. Finally, Beaton Management Co. Inc. purchased a new position in Essex Property Trust in the second quarter valued at about $207,000. 99.98% of the stock is owned by institutional investors.
In related news, insider John D. Eudy sold 166 shares of the stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $257.92, for a total transaction of $42,814.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Schall sold 333 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $263.97, for a total transaction of $87,902.01. Following the completion of the transaction, the chief executive officer now directly owns 45,096 shares of the company’s stock, valued at $11,903,991.12. The disclosure for this sale can be found here. Insiders have sold 10,064 shares of company stock valued at $2,673,529 over the last three months. 3.30% of the stock is currently owned by corporate insiders.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a $1.75 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.76%. Essex Property Trust’s payout ratio is 87.61%.
Essex Property Trust Company Profile
Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.
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