Research Analysts Issue Forecasts for ESS FY2025 Earnings

Essex Property Trust, Inc. (NYSE:ESS - Free Report) - Analysts at Wedbush dropped their FY2025 EPS estimates for shares of Essex Property Trust in a report released on Monday, February 10th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings of $15.94 per share for the year, down from their prior estimate of $16.08. The consensus estimate for Essex Property Trust's current full-year earnings is $15.96 per share. Wedbush also issued estimates for Essex Property Trust's FY2026 earnings at $16.54 EPS.

ESS has been the topic of several other reports. Evercore ISI lifted their target price on shares of Essex Property Trust from $297.00 to $302.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft raised shares of Essex Property Trust from a "hold" rating to a "buy" rating and boosted their price objective for the company from $308.00 to $310.00 in a research report on Tuesday, January 21st. Mizuho lowered their price objective on shares of Essex Property Trust from $325.00 to $300.00 and set an "outperform" rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada boosted their price objective on shares of Essex Property Trust from $302.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut shares of Essex Property Trust from a "neutral" rating to an "underweight" rating and lifted their target price for the company from $297.00 to $303.00 in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $306.53.

Essex Property Trust Price Performance

Shares of NYSE ESS traded down $3.53 during midday trading on Wednesday, reaching $288.09. The company's stock had a trading volume of 441,874 shares, compared to its average volume of 474,074. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.15. The company has a 50 day moving average price of $285.71 and a 200 day moving average price of $292.55. Essex Property Trust has a one year low of $225.40 and a one year high of $317.73. The company has a market cap of $18.52 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 6.93 and a beta of 0.92.

Essex Property Trust (NYSE:ESS - Get Free Report) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.92 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $2.52. Essex Property Trust had a net margin of 41.79% and a return on equity of 13.05%.

Hedge Funds Weigh In On Essex Property Trust

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Essex Property Trust by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 10,353,157 shares of the real estate investment trust's stock valued at $2,955,205,000 after buying an additional 61,645 shares during the period. Geode Capital Management LLC grew its holdings in shares of Essex Property Trust by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 1,758,174 shares of the real estate investment trust's stock worth $500,688,000 after purchasing an additional 32,102 shares during the last quarter. Norges Bank bought a new stake in shares of Essex Property Trust in the 4th quarter worth about $471,258,000. Principal Financial Group Inc. grew its holdings in shares of Essex Property Trust by 5.0% in the 4th quarter. Principal Financial Group Inc. now owns 1,494,298 shares of the real estate investment trust's stock worth $426,532,000 after purchasing an additional 70,785 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Essex Property Trust by 16.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,329,516 shares of the real estate investment trust's stock worth $392,766,000 after purchasing an additional 183,947 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Essex Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were paid a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Thursday, January 2nd. Essex Property Trust's payout ratio is currently 84.92%.

Essex Property Trust Company Profile

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.