Somewhat Favorable News Coverage Somewhat Unlikely to Impact Essex Property Trust (ESS) Stock Price
Media coverage about Essex Property Trust (NYSE:ESS) has been trending somewhat positive this week, Accern Sentiment reports. The research group ranks the sentiment of news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Essex Property Trust earned a coverage optimism score of 0.16 on Accern’s scale. Accern also assigned news stories about the real estate investment trust an impact score of 46.0607403768267 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
Essex Property Trust (ESS) opened at 257.01 on Monday. The firm has a market cap of $16.96 billion, a P/E ratio of 33.05 and a beta of 0.53. Essex Property Trust has a 12-month low of $200.01 and a 12-month high of $270.04. The stock’s 50 day moving average is $260.85 and its 200 day moving average is $254.82.
Essex Property Trust (NYSE:ESS) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.05. The firm had revenue of $339.06 million during the quarter, compared to analysts’ expectations of $336.17 million. Essex Property Trust had a return on equity of 8.03% and a net margin of 38.33%. During the same quarter in the previous year, the business earned $2.74 earnings per share. On average, equities research analysts expect that Essex Property Trust will post $5.89 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 2.72%. The ex-dividend date is Thursday, September 28th. Essex Property Trust’s payout ratio is 89.97%.
ESS has been the subject of a number of recent research reports. BidaskClub upgraded shares of Essex Property Trust from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Barclays PLC boosted their target price on shares of Essex Property Trust from $267.00 to $269.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. BTIG Research downgraded shares of Essex Property Trust from a “buy” rating to a “neutral” rating in a report on Friday, June 30th. Zacks Investment Research upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and set a $289.00 target price for the company in a report on Tuesday, July 18th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $267.00 target price on shares of Essex Property Trust in a report on Sunday, July 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $268.07.
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In related news, insider Craig K. Zimmerman sold 167 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $267.02, for a total transaction of $44,592.34. Following the completion of the sale, the insider now owns 10,450 shares in the company, valued at $2,790,359. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael J. Schall sold 333 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $263.97, for a total value of $87,902.01. Following the sale, the chief executive officer now owns 45,096 shares of the company’s stock, valued at approximately $11,903,991.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,981 shares of company stock valued at $2,914,681. 3.30% of the stock is owned by company insiders.
About Essex Property Trust
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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