Wall Street analysts forecast that Essex Property Trust Inc (NYSE:ESS) will announce earnings of $3.05 per share for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Essex Property Trust’s earnings. The highest EPS estimate is $3.09 and the lowest is $3.02. Essex Property Trust reported earnings per share of $2.94 during the same quarter last year, which would suggest a positive year over year growth rate of 3.7%. The firm is scheduled to report its next earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Essex Property Trust will report full-year earnings of $12.44 per share for the current year, with EPS estimates ranging from $12.30 to $12.50. For the next financial year, analysts forecast that the firm will post earnings of $13.00 per share, with EPS estimates ranging from $12.65 to $13.30. Zacks’ EPS averages are an average based on a survey of analysts that cover Essex Property Trust.
Essex Property Trust (NYSE:ESS) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $3.01 EPS for the quarter, topping the consensus estimate of $3.00 by $0.01. The company had revenue of $345.06 million during the quarter, compared to the consensus estimate of $346.50 million. Essex Property Trust had a net margin of 31.75% and a return on equity of 6.76%. During the same period in the previous year, the firm posted $2.85 earnings per share.
In other news, insider Glenn Olnick sold 1,600,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $0.10, for a total transaction of $160,000.00. 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 transaction of $111,715.00. Following the transaction, the director now directly owns 5,736 shares of the company’s stock, valued at $1,281,594.48. The disclosure for this sale can be found here. Insiders sold a total of 1,608,602 shares of company stock valued at $2,275,430 over the last ninety days. 3.30% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new position in shares of Essex Property Trust during the 4th quarter valued at approximately $100,000. Breton Hill Capital Ltd. bought a new position in shares of Essex Property Trust during the 3rd quarter valued at approximately $200,000. Beacon Investment Advisory Services Inc. bought a new position in shares of Essex Property Trust during the 3rd quarter valued at approximately $200,000. Shelton Capital Management bought a new position in shares of Essex Property Trust during the 4th quarter valued at approximately $208,000. Finally, Checchi Capital Advisers LLC bought a new position in shares of Essex Property Trust during the 4th quarter valued at approximately $217,000. 96.21% of the stock is owned by hedge funds and other institutional investors.
Essex Property Trust (NYSE ESS) traded up $3.37 during trading hours on Monday, hitting $237.52. 503,891 shares of the stock traded hands, compared to its average volume of 483,201. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $15,463.34, a P/E ratio of 36.10, a PEG ratio of 3.19 and a beta of 0.45. Essex Property Trust has a one year low of $214.03 and a one year high of $270.04.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 3.13%. This is an increase from Essex Property Trust’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Wednesday, March 28th. Essex Property Trust’s dividend payout ratio is presently 106.38%.
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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