Equities research analysts expect that Essex Property Trust, Inc. (NYSE:ESS) will report $336.58 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Essex Property Trust’s earnings, with estimates ranging from $334.25 million to $338.21 million. Essex Property Trust posted sales of $321.59 million in the same quarter last year, which would indicate a positive year over year growth rate of 4.7%. The business is scheduled to report its next earnings results after the market closes on Thursday, July 27th.

On average, analysts expect that Essex Property Trust will report full year sales of $336.58 million for the current year, with estimates ranging from $1.34 billion to $1.36 billion. For the next financial year, analysts expect that the business will post sales of $1.42 billion per share, with estimates ranging from $1.39 billion to $1.45 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Essex Property Trust.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Thursday, April 27th. The real estate investment trust reported $2.94 EPS for the quarter, topping the consensus estimate of $2.89 by $0.05. The company had revenue of $335.40 million for the quarter, compared to the consensus estimate of $332.80 million. Essex Property Trust had a net margin of 38.94% and a return on equity of 8.04%. During the same period in the previous year, the firm earned $2.68 earnings per share.

A number of analysts have weighed in on ESS shares. Canaccord Genuity set a $255.00 target price on Essex Property Trust and gave the stock a “hold” rating in a research note on Monday, May 1st. Zacks Investment Research upgraded Essex Property Trust from a “sell” rating to a “hold” rating in a research note on Monday, April 24th. Royal Bank Of Canada reiterated a “buy” rating and issued a $248.00 target price on shares of Essex Property Trust in a research note on Wednesday, March 29th. BidaskClub upgraded Essex Property Trust from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Finally, BTIG Research lowered Essex Property Trust from a “buy” rating to a “neutral” rating in a research note on Friday, June 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Essex Property Trust presently has a consensus rating of “Hold” and a consensus target price of $253.92.

In related news, insider John D. Eudy sold 4,301 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $252.40, for a total transaction of $1,085,572.40. Following the sale, the insider now owns 12,731 shares of the company’s stock, valued at $3,213,304.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John F. Burkart sold 167 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $254.75, for a total value of $42,543.25. Following the sale, the insider now directly owns 4,652 shares in the company, valued at approximately $1,185,097. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,660 shares of company stock worth $8,230,670. 3.30% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. RB Capital Management LLC acquired a new stake in shares of Essex Property Trust during the second quarter valued at $218,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Essex Property Trust by 0.6% in the first quarter. Nomura Asset Management Co. Ltd. now owns 50,167 shares of the real estate investment trust’s stock valued at $11,615,000 after buying an additional 279 shares in the last quarter. Perigon Wealth Management LLC increased its stake in shares of Essex Property Trust by 835.2% in the first quarter. Perigon Wealth Management LLC now owns 823 shares of the real estate investment trust’s stock valued at $192,000 after buying an additional 735 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Essex Property Trust by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 363,920 shares of the real estate investment trust’s stock valued at $84,258,000 after buying an additional 91,298 shares in the last quarter. Finally, Bank of Nova Scotia increased its stake in shares of Essex Property Trust by 69.5% in the first quarter. Bank of Nova Scotia now owns 25,192 shares of the real estate investment trust’s stock valued at $5,832,000 after buying an additional 10,332 shares in the last quarter.

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Essex Property Trust (NYSE:ESS) opened at 251.73 on Wednesday. Essex Property Trust has a 12 month low of $200.01 and a 12 month high of $268.97. The firm’s 50-day moving average is $260.16 and its 200-day moving average is $238.93. The stock has a market capitalization of $16.51 billion, a P/E ratio of 32.25 and a beta of 0.52.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Wednesday, June 28th. Essex Property Trust’s payout ratio is currently 89.74%.

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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