Essex Property Trust (ESS) Scheduled to Post Quarterly Earnings on Tuesday

Essex Property Trust (NYSE:ESS - Get Free Report) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $3.88 per share for the quarter. Investors interested in participating in the company's conference call can do so using this link.

Essex Property Trust (NYSE:ESS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.45 earnings per share for the quarter, missing analysts' consensus estimates of $3.85 by ($2.40). Essex Property Trust had a return on equity of 9.14% and a net margin of 30.31%. The company had revenue of $442.36 million for the quarter, compared to analyst estimates of $433.26 million. During the same quarter in the prior year, the company posted $3.77 earnings per share. On average, analysts expect Essex Property Trust to post $16 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Essex Property Trust Price Performance

Shares of NYSE ESS traded up $2.03 during trading on Tuesday, hitting $293.40. The company had a trading volume of 206,517 shares, compared to its average volume of 379,208. The firm has a market capitalization of $18.84 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 5.21 and a beta of 0.88. The stock has a fifty day simple moving average of $296.92 and a two-hundred day simple moving average of $276.93. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.11. Essex Property Trust has a fifty-two week low of $203.85 and a fifty-two week high of $317.73.

Essex Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $2.45 dividend. This represents a $9.80 annualized dividend and a yield of 3.34%. The ex-dividend date was Monday, September 30th. Essex Property Trust's payout ratio is 119.80%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ESS shares. Royal Bank of Canada raised their target price on Essex Property Trust from $284.00 to $288.00 and gave the company an "outperform" rating in a research report on Thursday, August 1st. Evercore ISI lifted their target price on shares of Essex Property Trust from $283.00 to $287.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. Truist Financial increased their target price on shares of Essex Property Trust from $282.00 to $294.00 and gave the company a "hold" rating in a research report on Tuesday, August 27th. Bank of America cut shares of Essex Property Trust from a "buy" rating to a "neutral" rating and upped their price objective for the company from $307.00 to $321.00 in a research note on Tuesday, September 24th. Finally, Raymond James lowered shares of Essex Property Trust from an "outperform" rating to a "market perform" rating in a research note on Monday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $293.40.

Insider Activity

In other Essex Property Trust news, Director Amal M. Johnson sold 2,453 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $300.00, for a total transaction of $735,900.00. Following the sale, the director now directly owns 2,585 shares in the company, valued at $775,500. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Amal M. Johnson sold 2,453 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $300.00, for a total value of $735,900.00. Following the completion of the sale, the director now directly owns 2,585 shares of the company's stock, valued at approximately $775,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Angela L. Kleiman sold 8,080 shares of Essex Property Trust stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $315.10, for a total value of $2,546,008.00. Following the completion of the sale, the chief executive officer now owns 9,494 shares in the company, valued at approximately $2,991,559.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,402 shares of company stock valued at $6,399,663. 3.80% of the stock is currently owned by company insiders.

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 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.