Essex Property Trust Inc (NYSE:ESS) – KeyCorp increased their FY2018 earnings per share estimates for Essex Property Trust in a report released on Monday, September 24th. KeyCorp analyst A. Wurschmidt now forecasts that the real estate investment trust will post earnings of $12.87 per share for the year, up from their prior forecast of $12.74. KeyCorp also issued estimates for Essex Property Trust’s FY2019 earnings at $13.13 EPS.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.04. The business had revenue of $348.72 million for the quarter, compared to analyst estimates of $348.58 million. Essex Property Trust had a return on equity of 5.52% and a net margin of 27.05%. During the same quarter in the previous year, the company posted $2.97 EPS.

Several other research analysts also recently commented on ESS. Mizuho reaffirmed a “hold” rating and set a $263.00 target price on shares of Essex Property Trust in a report on Monday, August 6th. DA Davidson reaffirmed a “neutral” rating on shares of Essex Property Trust in a report on Monday, August 6th. Raymond James raised Essex Property Trust from an “underperform” rating to a “market perform” rating in a report on Monday, July 23rd. Morgan Stanley cut their target price on Essex Property Trust from $267.00 to $260.00 and set an “overweight” rating on the stock in a report on Thursday, June 14th. Finally, ValuEngine raised Essex Property Trust from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Essex Property Trust currently has a consensus rating of “Buy” and an average price target of $263.44.

Shares of ESS stock opened at $241.89 on Thursday. The firm has a market cap of $16.06 billion, a P/E ratio of 20.33, a PEG ratio of 3.17 and a beta of 0.30. Essex Property Trust has a twelve month low of $214.03 and a twelve month high of $264.07. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.85 and a current ratio of 1.85.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Friday, September 28th will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Thursday, September 27th. Essex Property Trust’s dividend payout ratio is 62.47%.

In other news, insider Angela L. Kleiman sold 750 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $240.80, for a total value of $180,600.00. Following the transaction, the insider now directly owns 9,149 shares of the company’s stock, valued at approximately $2,203,079.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in ESS. Point72 Asia Hong Kong Ltd acquired a new position in shares of Essex Property Trust in the 1st quarter valued at about $105,000. McKinley Carter Wealth Services Inc. acquired a new position in shares of Essex Property Trust in the 1st quarter valued at about $130,000. Piedmont Investment Advisors LLC acquired a new position in shares of Essex Property Trust in the 2nd quarter valued at about $185,000. First Midwest Bank Trust Division acquired a new position in shares of Essex Property Trust in the 2nd quarter valued at about $218,000. Finally, First Allied Advisory Services Inc. acquired a new position in shares of Essex Property Trust in the 2nd quarter valued at about $230,000. 96.19% of the stock is currently owned by institutional investors.

About Essex Property Trust

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. The Company currently has ownership interests in 247 apartment communities comprising approximately 60,000 apartment homes, excluding six properties in various stages of active development, one commercial building, preferred equity co-investments, and loan investments.

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

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