Essex Property Trust, Inc. (ESS) Expected to Earn Q1 2017 Earnings of $2.91 Per Share

Essex Property Trust, Inc. (NYSE:ESS) – Analysts at KeyCorp issued their Q1 2017 EPS estimates for Essex Property Trust in a research note issued on Monday. KeyCorp analyst A. Wurschmidt expects that the brokerage will post earnings per share of $2.91 for the quarter. KeyCorp has a “Overweight” rating on the stock. KeyCorp also issued estimates for Essex Property Trust’s Q2 2017 earnings at $2.94 EPS, Q3 2017 earnings at $2.93 EPS, Q4 2017 earnings at $2.95 EPS and FY2018 earnings at $12.33 EPS.

A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Essex Property Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, January 11th. Canaccord Genuity lifted their target price on shares of Essex Property Trust from $230.00 to $238.00 and gave the company a “hold” rating in a research note on Wednesday, February 8th. Cantor Fitzgerald reiterated a “buy” rating and issued a $252.00 target price on shares of Essex Property Trust in a research note on Friday, October 28th. Barclays PLC upgraded shares of Essex Property Trust from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $232.00 to $255.00 in a research note on Monday, January 23rd. They noted that the move was a valuation call. Finally, Evercore ISI upgraded shares of Essex Property Trust from a “hold” rating to a “buy” rating and lifted their target price for the company from $234.00 to $238.00 in a research note on Monday, November 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $244.62.

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

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Shares of Essex Property Trust (NYSE:ESS) opened at 226.71 on Tuesday. The firm’s 50-day moving average price is $227.65 and its 200-day moving average price is $222.24. Essex Property Trust has a 52-week low of $193.80 and a 52-week high of $237.50. The stock has a market capitalization of $14.86 billion, a P/E ratio of 36.16 and a beta of 0.52.

Essex Property Trust (NYSE:ESS) last posted its earnings results on Thursday, February 2nd. The real estate investment trust reported $2.81 EPS for the quarter, missing the Zacks’ consensus estimate of $2.82 by $0.01. Essex Property Trust had a return on equity of 6.55% and a net margin of 32.07%. During the same period in the previous year, the company earned $2.63 EPS.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Wednesday, December 28th. Essex Property Trust’s dividend payout ratio (DPR) is 102.07%.

In other news, insider Angela L. Kleiman sold 300 shares of the business’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $232.00, for a total value of $69,600.00. Following the completion of the transaction, the insider now owns 7,477 shares of the company’s stock, valued at approximately $1,734,664. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Angela L. Kleiman sold 1,200 shares of the business’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $219.55, for a total transaction of $263,460.00. Following the completion of the transaction, the insider now directly owns 7,997 shares of the company’s stock, valued at approximately $1,755,741.35. The disclosure for this sale can be found here. Insiders sold a total of 9,400 shares of company stock valued at $2,116,476 in the last three months. 3.50% of the stock is owned by company insiders.

This report was posted by sleekmoney and is the property of of sleekmoney. If you are reading this report on another publication, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The original version of this report can be viewed at http://sleekmoney.com/essex-property-trust-inc-ess-expected-to-earn-q1-2017-earnings-of-2-91-per-share/1660271.html.

Several institutional investors have recently made changes to their positions in the stock. Hanson McClain Inc. raised its position in shares of Essex Property Trust by 0.5% in the second quarter. Hanson McClain Inc. now owns 608 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 3 shares during the period. Washington Trust Bank raised its position in shares of Essex Property Trust by 1.3% in the third quarter. Washington Trust Bank now owns 472 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 6 shares during the period. Great Lakes Advisors LLC raised its position in shares of Essex Property Trust by 0.4% in the third quarter. Great Lakes Advisors LLC now owns 2,118 shares of the real estate investment trust’s stock valued at $472,000 after buying an additional 9 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of Essex Property Trust by 0.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 2,070 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 10 shares during the period. Finally, Cleararc Capital Inc. raised its position in shares of Essex Property Trust by 0.9% in the fourth quarter. Cleararc Capital Inc. now owns 1,608 shares of the real estate investment trust’s stock valued at $374,000 after buying an additional 15 shares during the period. 98.95% of the stock is owned by institutional investors.

Essex Property Trust Company Profile

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. (the Operating Partnership). The Company is engaged in the ownership, operation, management, acquisition, development and redevelopment of apartment communities.

5 Day Chart for NYSE:ESS

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