Essex Property Trust Inc (NYSE:ESS) – Equities research analysts at KeyCorp issued their FY2019 earnings per share (EPS) estimates for shares of Essex Property Trust in a report issued on Tuesday, Zacks Investment Research reports. KeyCorp analyst A. Wurschmidt forecasts that the real estate investment trust will earn $12.65 per share for the year.
Several other brokerages have also recently weighed in on ESS. Raymond James Financial reaffirmed an “underperform” rating on shares of Essex Property Trust in a research note on Monday, January 8th. BMO Capital Markets reaffirmed a “hold” rating and set a $257.00 target price on shares of Essex Property Trust in a research note on Monday, November 27th. Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating on shares of Essex Property Trust in a research note on Friday, November 3rd. Zacks Investment Research upgraded Essex Property Trust from a “hold” rating to a “buy” rating and set a $289.00 price target for the company in a research report on Tuesday, October 10th. Finally, JMP Securities reiterated a “hold” rating on shares of Essex Property Trust in a research report on Wednesday, December 27th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $269.41.
Essex Property Trust (NYSE:ESS) opened at $227.10 on Thursday. Essex Property Trust has a 52 week low of $218.41 and a 52 week high of $270.04. The firm has a market capitalization of $14,997.00, a PE ratio of 19.41, a P/E/G ratio of 2.93 and a beta of 0.50. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88.
Several institutional investors and hedge funds have recently bought and sold shares of ESS. Tower Research Capital LLC TRC raised its stake in shares of Essex Property Trust by 145.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 471 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 279 shares in the last quarter. Sun Life Financial INC raised its stake in shares of Essex Property Trust by 5,900.0% during the 2nd quarter. Sun Life Financial INC now owns 480 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 472 shares in the last quarter. Breton Hill Capital Ltd. purchased a new stake in shares of Essex Property Trust during the 3rd quarter worth about $200,000. Beacon Investment Advisory Services Inc. purchased a new stake in shares of Essex Property Trust during the 3rd quarter worth about $200,000. Finally, Beaton Management Co. Inc. purchased a new stake in shares of Essex Property Trust during the 2nd quarter worth about $207,000. 97.14% of the stock is owned by institutional investors.
In related news, insider Craig K. Zimmerman sold 167 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $255.50, for a total value of $42,668.50. Following the completion of the sale, the insider now directly owns 10,450 shares of the company’s stock, valued at approximately $2,669,975. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary P. Martin sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $255.59, for a total value of $255,590.00. Following the sale, the director now directly owns 6,236 shares of the company’s stock, valued at $1,593,859.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,687 shares of company stock valued at $2,408,772. Company insiders own 3.30% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 3.08%. The ex-dividend date is Thursday, December 28th. Essex Property Trust’s dividend payout ratio is currently 87.61%.
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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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