Essex Property Trust Inc (NYSE:ESS) – Equities researchers at SunTrust Banks upped their FY2017 earnings per share estimates for shares of Essex Property Trust in a research report issued on Thursday. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will earn $11.83 per share for the year, up from their prior estimate of $11.70. SunTrust Banks currently has a “Hold” rating and a $257.00 target price on the stock. SunTrust Banks also issued estimates for Essex Property Trust’s Q1 2018 earnings at $3.07 EPS, Q2 2018 earnings at $3.12 EPS, Q3 2018 earnings at $3.13 EPS, Q4 2018 earnings at $3.17 EPS, FY2019 earnings at $13.14 EPS, FY2020 earnings at $13.83 EPS and FY2021 earnings at $14.52 EPS.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $2.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.05. Essex Property Trust had a net margin of 22.35% and a return on equity of 4.51%. The company had revenue of $339.06 million for the quarter, compared to the consensus estimate of $336.17 million. During the same period in the prior year, the firm posted $2.74 EPS.

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ESS has been the topic of several other research reports. Canaccord Genuity set a $255.00 price target on Essex Property Trust and gave the stock a “hold” rating in a research report on Monday, May 1st. Cantor Fitzgerald reaffirmed a “buy” rating and set a $278.00 price target on shares of Essex Property Trust in a research report on Thursday, July 27th. Zacks Investment Research raised Essex Property Trust from a “sell” rating to a “hold” rating in a research report on Monday, April 24th. Barclays PLC lifted their price target on Essex Property Trust from $267.00 to $269.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 18th. Finally, BTIG Research lowered Essex Property Trust from a “buy” rating to a “neutral” rating in a research report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $263.46.

Essex Property Trust (ESS) traded up 0.08% during trading on Friday, hitting $262.75. 27,978 shares of the company were exchanged. The firm’s 50 day moving average price is $260.66 and its 200-day moving average price is $245.45. Essex Property Trust has a 1-year low of $200.01 and a 1-year high of $268.97. The stock has a market capitalization of $17.34 billion, a PE ratio of 33.79 and a beta of 0.52.

Several hedge funds have recently bought and sold shares of ESS. Investec Asset Management LTD increased its stake in Essex Property Trust by 12.2% in the second quarter. Investec Asset Management LTD now owns 4,600 shares of the real estate investment trust’s stock worth $1,183,000 after buying an additional 500 shares during the period. Kempen Capital Management N.V. increased its stake in Essex Property Trust by 13.6% in the second quarter. Kempen Capital Management N.V. now owns 13,104 shares of the real estate investment trust’s stock worth $3,371,000 after buying an additional 1,573 shares during the last quarter. Thrivent Financial For Lutherans increased its stake in Essex Property Trust by 1.3% in the second quarter. Thrivent Financial For Lutherans now owns 34,533 shares of the real estate investment trust’s stock worth $8,884,000 after buying an additional 450 shares during the last quarter. Profund Advisors LLC increased its stake in Essex Property Trust by 19.6% in the second quarter. Profund Advisors LLC now owns 4,049 shares of the real estate investment trust’s stock worth $1,042,000 after buying an additional 663 shares during the last quarter. Finally, Laurion Capital Management LP purchased a new stake in Essex Property Trust during the second quarter worth approximately $257,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

In related news, Director Janice L. Sears sold 3,000 shares of Essex Property Trust stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $253.92, for a total value of $761,760.00. Following the sale, the director now directly owns 3,698 shares in the company, valued at $938,996.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael J. Schall sold 333 shares of Essex Property Trust stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $256.06, for a total value of $85,267.98. Following the completion of the sale, the insider now owns 45,096 shares in the company, valued at $11,547,281.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,106 shares of company stock worth $1,562,983. Company insiders own 3.30% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a $1.75 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.67%. Essex Property Trust’s dividend payout ratio (DPR) is presently 89.97%.

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.

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

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