Essex Property Trust Inc (NYSE:ESS) – Stock analysts at DA Davidson lifted their Q1 2018 earnings per share estimates for Essex Property Trust in a research note issued to investors on Friday. DA Davidson analyst J. Lykins now expects that the real estate investment trust will earn $3.12 per share for the quarter, up from their prior forecast of $3.06. DA Davidson also issued estimates for Essex Property Trust’s Q2 2018 earnings at $3.19 EPS, Q3 2018 earnings at $3.14 EPS, Q4 2018 earnings at $3.16 EPS, FY2018 earnings at $12.61 EPS and FY2019 earnings at $13.41 EPS.

A number of other analysts also recently commented on the company. Jefferies Group restated a “hold” rating and issued a $252.00 target price on shares of Essex Property Trust in a research note on Tuesday. Bank of America upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and increased their price target for the stock from $227.85 to $284.00 in a research report on Tuesday. Sandler O’Neill set a $235.00 price target on Essex Property Trust and gave the stock a “hold” rating in a research report on Friday, February 9th. Mizuho upgraded Essex Property Trust from an “underperform” rating to a “neutral” rating and set a $223.00 price target on the stock in a research report on Friday, February 9th. They noted that the move was a valuation call. Finally, Cantor Fitzgerald set a $279.00 price target on Essex Property Trust and gave the stock a “buy” rating in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Essex Property Trust currently has a consensus rating of “Buy” and a consensus price target of $264.94.

Shares of Essex Property Trust (NYSE ESS) opened at $228.28 on Monday. Essex Property Trust has a one year low of $214.03 and a one year high of $270.04. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $15,050.40, a PE ratio of 34.69, a PEG ratio of 2.93 and a beta of 0.42.

Essex Property Trust (NYSE:ESS) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $345.06 million for the quarter, compared to the consensus estimate of $346.50 million. During the same quarter in the prior year, the business earned $2.85 earnings per share.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were issued a dividend of $1.75 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.07%. Essex Property Trust’s payout ratio is currently 106.38%.

In other Essex Property Trust news, CFO Angela L. Kleiman sold 600 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $247.16, for a total transaction of $148,296.00. Following the completion of the transaction, the chief financial officer now owns 7,777 shares of the company’s stock, valued at $1,922,163.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary P. Martin sold 500 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $223.43, for a total value of $111,715.00. Following the transaction, the director now directly owns 5,736 shares of the company’s stock, valued at approximately $1,281,594.48. The disclosure for this sale can be found here. Insiders have sold 8,602 shares of company stock valued at $2,115,430 in the last three months. Insiders own 3.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in ESS. Advisor Group Inc. raised its holdings in shares of Essex Property Trust by 14.2% during the second quarter. Advisor Group Inc. now owns 1,021 shares of the real estate investment trust’s stock valued at $262,000 after acquiring an additional 127 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Essex Property Trust by 1,333.6% during the second quarter. Janus Henderson Group PLC now owns 119,666 shares of the real estate investment trust’s stock valued at $30,787,000 after acquiring an additional 111,319 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Essex Property Trust by 178.6% during the second quarter. Cubist Systematic Strategies LLC now owns 3,591 shares of the real estate investment trust’s stock valued at $924,000 after acquiring an additional 2,302 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Essex Property Trust by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 70,180 shares of the real estate investment trust’s stock valued at $18,055,000 after acquiring an additional 1,979 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Essex Property Trust by 1.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 4,821 shares of the real estate investment trust’s stock valued at $1,240,000 after acquiring an additional 49 shares during the last quarter. 96.31% of the stock is owned by institutional investors and hedge funds.

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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.

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

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