Brokerages Anticipate Essex Property Trust Inc (ESS) to Announce $3.05 Earnings Per Share

Analysts expect that Essex Property Trust Inc (NYSE:ESS) will announce earnings per share (EPS) of $3.05 for the current quarter, Zacks reports. Five analysts have provided estimates for Essex Property Trust’s earnings, with the highest EPS estimate coming in at $3.09 and the lowest estimate coming in at $3.02. Essex Property Trust reported earnings per share of $2.94 in the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The company is expected to announce its next quarterly earnings report on Thursday, April 26th.

On average, analysts expect that Essex Property Trust will report full-year earnings of $12.42 per share for the current financial year, with EPS estimates ranging from $12.19 to $12.50. For the next fiscal year, analysts forecast that the firm will report earnings of $13.00 per share, with EPS estimates ranging from $12.65 to $13.30. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Essex Property Trust.

Essex Property Trust (NYSE:ESS) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $3.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.00 by $0.01. Essex Property Trust had a return on equity of 6.76% and a net margin of 31.75%. The company had revenue of $345.06 million for the quarter, compared to analyst estimates of $346.50 million. During the same quarter last year, the firm earned $2.85 EPS.

Several analysts recently commented on the company. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $279.00 price target on shares of Essex Property Trust in a research note on Wednesday, November 8th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Essex Property Trust in a research note on Sunday, November 12th. SunTrust Banks reaffirmed a “hold” rating and issued a $270.00 price target on shares of Essex Property Trust in a research note on Friday, November 3rd. Mizuho lowered Essex Property Trust from a “neutral” rating to an “underperform” rating and set a $250.00 price target on the stock. in a research note on Monday, November 6th. Finally, Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating on shares of Essex Property Trust in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Essex Property Trust has an average rating of “Buy” and a consensus price target of $264.21.

Shares of Essex Property Trust (NYSE ESS) traded down $2.70 during trading hours on Friday, hitting $226.97. The stock had a trading volume of 243,083 shares, compared to its average volume of 453,691. Essex Property Trust has a one year low of $214.03 and a one year high of $270.04. The firm has a market cap of $15,170.62, a price-to-earnings ratio of 34.59, a PEG ratio of 3.12 and a beta of 0.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.83 and a quick ratio of 0.83.

In other Essex Property Trust news, EVP John D. Eudy sold 1,700 shares of Essex Property Trust stock in a transaction on Monday, December 11th. The stock was sold at an average price of $247.24, for a total value of $420,308.00. Following the completion of the transaction, the executive vice president now owns 10,130 shares in the company, valued at approximately $2,504,541.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Schall sold 4,801 shares of Essex Property Trust stock in a transaction on Monday, December 11th. The shares were sold at an average price of $247.37, for a total value of $1,187,623.37. Following the completion of the transaction, the chief executive officer now owns 49,564 shares of the company’s stock, valued at approximately $12,260,646.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,602 shares of company stock valued at $2,115,430. Corporate insiders own 3.30% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its position in Essex Property Trust by 1.4% in the 4th quarter. BlackRock Inc. now owns 6,812,160 shares of the real estate investment trust’s stock valued at $1,644,253,000 after purchasing an additional 94,542 shares during the last quarter. Principal Financial Group Inc. raised its position in Essex Property Trust by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,328,165 shares of the real estate investment trust’s stock valued at $591,424,000 after purchasing an additional 80,573 shares during the last quarter. Cbre Clarion Securities LLC raised its position in Essex Property Trust by 6.1% in the 4th quarter. Cbre Clarion Securities LLC now owns 1,091,140 shares of the real estate investment trust’s stock valued at $263,368,000 after purchasing an additional 62,762 shares during the last quarter. Bank of Montreal Can raised its position in Essex Property Trust by 5.4% in the 4th quarter. Bank of Montreal Can now owns 1,034,873 shares of the real estate investment trust’s stock valued at $249,787,000 after purchasing an additional 53,102 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Essex Property Trust by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 940,078 shares of the real estate investment trust’s stock worth $238,806,000 after acquiring an additional 18,322 shares during the last quarter. Hedge funds and other institutional investors own 96.57% of the company’s stock.

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

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