Brokerages expect Essex Property Trust Inc (NYSE:ESS) to report $372.25 million in sales for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Essex Property Trust’s earnings. The highest sales estimate is $386.86 million and the lowest is $364.52 million. Essex Property Trust posted sales of $353.16 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.4%. The company is scheduled to announce its next quarterly earnings results on Wednesday, January 29th.

According to Zacks, analysts expect that Essex Property Trust will report full-year sales of $1.45 billion for the current fiscal year, with estimates ranging from $1.44 billion to $1.47 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.53 billion, with estimates ranging from $1.47 billion to $1.61 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Essex Property Trust.

Essex Property Trust (NYSE:ESS) last issued its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($1.83). Essex Property Trust had a net margin of 29.78% and a return on equity of 6.73%. The company had revenue of $366.93 million for the quarter, compared to analysts’ expectations of $365.49 million. During the same quarter last year, the company earned $3.15 earnings per share.

A number of brokerages have issued reports on ESS. Stifel Nicolaus set a $355.00 price objective on Essex Property Trust and gave the company a “buy” rating in a research report on Friday, October 25th. Morgan Stanley upped their price objective on Essex Property Trust from $320.00 to $354.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. KeyCorp upped their price objective on Essex Property Trust from $320.00 to $342.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Capital One Financial restated an “equal weight” rating on shares of Essex Property Trust in a research report on Monday, September 16th. Finally, BTIG Research upgraded Essex Property Trust from a “neutral” rating to a “buy” rating and set a $335.00 price objective on the stock in a research report on Thursday, August 15th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Essex Property Trust has an average rating of “Buy” and an average price target of $324.43.

In other news, Director Janice L. Sears sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $324.26, for a total transaction of $810,650.00. Following the transaction, the director now owns 3,583 shares of the company’s stock, valued at $1,161,823.58. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John F. Burkart sold 1,546 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $321.99, for a total value of $497,796.54. Following the transaction, the executive vice president now directly owns 5,465 shares in the company, valued at approximately $1,759,675.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,732 shares of company stock worth $18,126,036. Insiders own 3.60% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Krane Funds Advisors LLC bought a new position in Essex Property Trust in the second quarter worth approximately $25,000. CX Institutional grew its stake in Essex Property Trust by 100.0% in the third quarter. CX Institutional now owns 84 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 42 shares in the last quarter. CSat Investment Advisory L.P. grew its stake in Essex Property Trust by 144.6% in the second quarter. CSat Investment Advisory L.P. now owns 137 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 81 shares in the last quarter. Prime Capital Investment Advisors LLC bought a new position in Essex Property Trust in the third quarter worth approximately $46,000. Finally, Flagship Harbor Advisors LLC grew its stake in Essex Property Trust by 243.9% in the second quarter. Flagship Harbor Advisors LLC now owns 141 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 100 shares in the last quarter. 96.49% of the stock is currently owned by institutional investors.

ESS stock traded up $4.75 during midday trading on Monday, reaching $319.00. 252,542 shares of the company traded hands, compared to its average volume of 350,124. Essex Property Trust has a 52-week low of $235.51 and a 52-week high of $334.17. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.59 and a current ratio of 1.59. The business has a 50 day moving average of $324.94 and a 200-day moving average of $308.01. The firm has a market capitalization of $20.69 billion, a price-to-earnings ratio of 25.38, a P/E/G ratio of 3.74 and a beta of 0.30.

About Essex Property Trust

Essex Property Trust, Inc, an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 245 apartment communities with an additional 6 properties in various stages of active development.

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

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